February 17, 2021

To All Concerned Parties

Company name: Japan Airport Terminal Co., Ltd. Representative: Nobuaki Yokota, President & COO (Code: 9706, First Section, Tokyo Stock Exchange) Inquiries: Kazuhito Tanaka

Senior Managing Director General Manger of Planning and Management Department

Tel: 03-5757-8409

Notice Regarding Revision of Forecast of Consolidated Financial Results

Japan Airport Terminal Co., Ltd. (the "Company") hereby notifies the revision of its forecast of consolidated financial results for the year ending March 31, 2021, announced on November 5, 2020.

Details

1. Forecast of Consolidated Financial Results

Forecast of Consolidated Financial Results for FY2020 (April 1, 2020 - March 31, 2021)

Operating revenues

(Millions of yen)

Operating income/(loss)

(Millions of yen)

Ordinary income/(loss)

(Millions of yen)

Net income/(loss)

attributable to owners of the parent (Millions of yen)

Net income/(loss)

per share

(Yen)

Previously announced forecast (A)

61,000

(58,000)

(55,500)

(35,000)

(430.89)

New forecast (B)

55,500

(58,000)

(55,500)

(35,000)

(430.89)

Difference (B - A)

(5,500)

Percentage difference (%)

(9.0)

(Ref) Actual results for previous period (FY2019)

249,756

9,892

8,705

5,012

61.71

2. Reasons for Revision

In the nine-month period ending December 31, 2020, while passenger numbers on domestic routes at Haneda Airport were higher than forecast, passenger numbers on international routes fell short of the forecast. In consolidated financial results, operating revenues exceeded the forecast due to higher-than-expected facility user charges revenue and other revenues. The income/loss situation was also better than forecast due to progress made in cost reductions.

Steady recovery in domestic and international passenger numbers had been forecasted for the 4th quarter (three-month period ending March 31, 2021), but with the issuing of the state of emergency declaration due to the COVID-19 pandemic and the total suspension of all new arrivals of foreign nationals, passenger demand fell significantly once again. Further, recovery of passenger numbers is expected to take time due to the extension of the state of emergency declaration until March 7 and other factors. For these reasons, based on the current situation, the Company decided to review the forecast of consolidated financial results for the whole year that it announced on November 5 last year.

Domestic passenger numbers during the three-month period ending March 31, 2021, upon which the forecast is premised, are anticipated to be approximately 20 to 30% of that prior to the exacerbation of the impact of COVID-19 infections, while international passenger numbers are anticipated to be the same as current levels. Having factored in these circumstances to the maximum extent possible at this stage, the Company has downgraded its revenue forecasts, but due to strengthened efforts to reduce costs, operating income and other income figures have been kept unchanged from the previously announced forecasts.

* Forecasts of financial results are based on information available as of the date of announcement and actual financial results may differ from the forecast figures due to a variety of factors.

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Japan Airport Terminal Co. Ltd. published this content on 17 February 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 24 February 2021 05:33:07 UTC.