Financial Report for the Third Quarter of the Fiscal Year Ending March 31, 2026 (FY2025) [J-GAAP] (Consolidated)
February 4, 2026 Company name: Japan Airport Terminal Co., Ltd. ("the Company") Listed stock exchange: Tokyo, Prime Market Code number: 9706 URL: https://www.tokyo-airport-bldg.co.jp/company/en/
Representative: Kazuhito Tanaka, Representative Director and President
Contact: Isamu Jinguji, Director and Senior Managing Executive Officer TEL 03-5757-8409 Scheduled date of commencing dividend payment: -
Supplementary materials on financial results (yes/no): Yes
Holding of quarterly investors' meeting (yes/no): Yes (for institutional investors and financial analysts)
(Figures are rounded down to the nearest million yen.)
Consolidated Financial Results for the First Nine Months of FY2025 (April 1, 2025 to December 31, 2025)
Consolidated Business Results (Cumulative) (%: Change from the same period of the previous year)
Operating revenues
Operating income
Ordinary income
Net income attributable to owners of the parent
Millions of yen
%
Millions of yen
%
Millions of yen
%
Millions of yen
%
First nine months of FY2025
217,139
7.7
35,582
11.1
34,315
11.4
22,240
18.6
FY2024
201,553
26.7
32,030
37.3
30,801
41.7
18,757
32.8
(Note) Comprehensive income: First nine months of FY2025 28,997 millions of yen (15.3%) First nine months of FY2024 25,147 millions of yen (37.7%)
Net income per share
Diluted net income per share
Yen
Yen
First nine months of FY2025
239.63
-
FY2024
201.76
-
Consolidated Financial Position
Total assets
Net assets
Equity capital to total assets
Net assets per share
Millions of yen
Millions of yen
%
Yen
As of December 31, 2025
483,853
218,091
41.6
2,170.94
As of March 31, 2025
469,955
198,347
39.9
2,019.12
(Reference) Equity capital: As of December 31, 2025 201,513 millions of yen As of March 31, 202 187,383 millions of yen
Dividends
Dividends per share
Q1-End
Q2-End
Q3-End
Year-End
Annual
Yen
Yen
Yen
Yen
Yen
FY2024
-
35.00
-
55.00
90.00
FY2025
-
45.00
-
FY2025 (Forecast)
45.00
90.00
(Note 1) Revisions to the most recently announced dividends forecast for FY2025: No
Forecast of Consolidated Financial Results for FY2025 (April 1, 2025 to March 31, 2026)
(%: Change from the previous fiscal year)
Operating revenues | Operating income | Ordinary income | Net income attributable to owners of the parent | Net income per share | |||||
Full-year | Millions of yen | % | Millions of yen | % | Millions of yen | % | Millions of yen | % | Yen |
288,300 | 6.8 | 41,500 | 7.6 | 39,900 | 11.7 | 25,400 | (7.5) | 273.66 | |
(Note) Revisions to the most recently announced forecast of consolidated financial results for FY2025: No
Notes
Significant changes in subsidiaries during the period under review (changes in specified subsidiaries involving changes in scope of consolidation): No
New: None Excluded: None
Adoption of special accounting methods for the preparation of quarterly consolidated financial statements: Yes
(Note) For details, please refer to page 10 of the appendix materials "2. Quarterly Consolidated Financial Statements and Notes (3) Notes on Quarterly Consolidated Financial Statements: Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements."
Changes in accounting policies, accounting estimates, and restatement of revisions
Changes in accounting policies due to revisions to accounting standards, etc.: None
Changes in accounting policies other than 1) above: None
Changes in accounting estimates: None
Restatement of revisions: None
Number of shares outstanding (common stock)
1) Number of shares outstanding at the period- end (including treasury stock): | As of December 31, 2025 | 93,145,400 | shares | As of March 31, 2025 | 93,145,400 | shares |
2) Number of treasury stock at the period-end: | As of December 31, 2025 | 322,576 | shares | As of March 31, 2025 | 340,876 | shares |
3) Average number of shares outstanding (quarterly consolidated cumulative period): | Nine months ended December 31, 2025 | 92,812,450 | shares | Nine months ended December 31, 2024 | 92,970,360 | shares |
(Note) The Company introduced the Board Incentive Plan (BIP) Trust. The number of shares held by the trust is included in the treasury stock.
*Review of the attached quarterly consolidated financial report by certified public accountants or auditing firms: No
*Statements regarding the proper use of financial forecast and other special remarks Notes on the use of forward-looking statements
The forecast of the business results reported herein was prepared based on information the Company had in its possession as of the time this report was prepared and on certain assumptions judged to be reasonable. The Company makes no guarantee that these figures will be achieved. Actual results may differ significantly from forecasts due to various factors. For the assumptions used in financial forecasts and other points, please refer to page 5 of the appendix materials, "1. Qualitative Information on Consolidated Financial Results for the First Nine Months of FY2025 (3) Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements."
Supplementary materials on financial results and details of presentation at investors' meeting
An investors' meeting is planned to be held on Friday, February 6, 2026, for financial analysts. Presentation materials used in the meeting will be promptly posted on the Company's website following the meeting.
Contents of the Appendix Materials
2
Qualitative Information on Consolidated Financial Results for the First Nine Months of FY2025 (April 1, 2025 to
December 31, 2025) ……………………………………………………………………………………………………………
Explanation of Operating Results 2
Explanation of Financial Position 5
Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements… 5
Quarterly Consolidated Financial Statements and Notes…………………………………………………………………… 6
Quarterly Consolidated Balance Sheets………………………………………………………………………………… 6
Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income 8
Quarterly Consolidated Statements of Income 8
Quarterly Consolidated Statements of Comprehensive Income 9
Notes on Quarterly Consolidated Financial Statements… 10
(Notes on the Premise of a Going Concern)… 10
(Notes on a Significant Change in Shareholders' Equity)… 10
(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial
Statements)… 10
(Notes on Quarterly Consolidated Statements of Cash Flows)… 10
(Change in Presentation Method) 10
(Segment Information) 11
(Significant Subsequent Events)… 12
Qualitative Information on Consolidated Financial Results for the First Nine Months of FY2025 (April 1, 2025 to December 31, 2025)
Explanation of Operating Results
During the first nine months of the fiscal year ending March 31, 2026, the Japanese economy gradually recovered despite the effects, mainly on the automobile industry, of the U.S. trade policies. Looking ahead, it is expected that the gradual
recovery trend will continue thanks to the impact of various policies and as the situation around labor and income improves. However, it is necessary to pay attention to the risks of downward pressure on the economy such as future price trends and the direction of U.S. trade policies, and continue to monitor the impacts such as fluctuations in the financial and capital markets. The airline industry continued to see an increasing number of foreign tourists visiting Japan, and the number of passengers for domestic flights in the third quarter (from October to December) rose about 1% and that for international flights grew about 7% compared with the same period a year ago. Since mid-November, the Chinese government has been recommending its people refrain from traveling to Japan. However, reduction in the number of international flights due to this has been quite
limited at Haneda Airport.
Under these circumstances, to achieve the long-term vision, "To Be a World Best Airport," the JAT Group is steadily executing various measures outlined in the Medium-Term Business Plan.
In terms of facilities, we aim to develop a safe, comfortable, and advanced airport, and continued to make facilities and material handling equipment earthquake-resistant, upgrade facilities, and make energy-saving improvements to air
conditioning units and lighting equipment. At the same time, we are making smooth progress in the construction of the
satellite building on the north side of Terminal 1. In Terminal 2, we began working on the extension of the satellite building on the north side to add two permanent spots as an initiative to improve the rate of on-time performance. In terms of services, we introduced a new function to the Lost and Found Cloud find that enables across-the-board search of the terminals and transportation operators around the airport. The Tokyo Metropolitan Government's Tokyo Bay eSG Project adopted the next-generation mobility (autonomous transport) field proposal, of which we are a part, as a priority project for fiscal year 2025. We plan to implement field tests under various environments and aim to realize level 4, or full self-driving, automation of buses operated in the restricted areas by fiscal year 2027. We will continue to promote DX and strive to realize total airport management (TAM) aimed at optimization of the airport as a whole by strengthening collaboration with involved business partners.
In terms of sales, we are actively seeking to capture diverse demand by holding events in collaboration with pop culture intellectual properties (IP) and municipalities. We also opened Haneda-Ya Gate 7 Shop, which combines the functions of gift shop and drug store, in the departure gate of Terminal 1 towards commencement of operations in the summer of 2026. Sales at duty-free stores for international flights in the third quarter (from October to December) exceeded the level in the same
period a year ago. In the general area, we opened Honolu Premier Air HANEDA, a halal-certified Japanese restaurant, in Edo Koji of Terminal 3 and displayed the world's largest Godzilla monument as part of Haneda Godzilla Global Project in a bid to create experience values unique to Haneda Airport. Other than Haneda Airport, in December we opened Air BicCamera Fukuoka Airport International Terminal Store and Ginza Store, which offer merchandise that meets the needs of diverse
Japanese and foreign travelers.
In terms of management foundation, we continued to work on strengthening of corporate governance. We are striving to build a sound and highly transparent governance system through measures such as formulation of the succession plan and development of a structure enabling integrated management of business operations of the group companies. As part of
initiatives for decarbonization of the airport, we have been pushing ahead with the installation of charging facilities for promoting the switch of airport vehicles to EVs and a solar power generation system at the satellite facility currently under construction. In terms of financial strategy, the Company largely achieved 40% in equity ratio, which is a target set under the Medium-Term Business Plan. We will continue to discuss the optimum capital composition together with the future capital investment plan and shareholder return policy to strengthen the cost of capital-conscious management in preparation for the next Medium-Term Business Plan.
As a result of the above, with respect to the consolidated financial results for the first nine months of the fiscal year ending March 31, 2026, operating revenues were ¥217,139 million (an increase of 7.7% year-on-year), as facility user charges
revenue increased. Operating income was ¥35,582 million (an increase of 11.1% year-on-year), ordinary income was ¥34,315 million (an increase of 11.4% year-on-year) and quarterly net income attributable to owners of the parent was 22,240 million (an increase of 18.6% year-on-year).
(Millions of yen)
Operating Results
First nine months of FY2024 (from April 1, 2024 to December 31, 2024)
First nine months of FY2025 (from April 1, 2025 to December 31, 2025)
Year-on-Year (%)
Operating revenues
201,553
217,139
7.7
Facilities
Management
78,634
88,281
12.3
Merchandise Sales
110,463
115,187
4.3
Food and Beverage
12,456
13,670
9.7
Operating income
32,030
35,582
11.1
Ordinary income
30,801
34,315
11.4
Net income attributable to owners of the parent
18,757
22,240
18.6
Haneda Airport Passenger Terminal was awarded the world's highest standard "5-star Airport" rating for the 12th
consecutive year in the "World Airport Star Rating" conducted by SKYTRAX of the United Kingdom. In the World Airport Awards 2025, we were awarded first place in the World's Cleanest Airports category (for the 10th consecutive year), World's Best Domestic Airports category (for the 13th consecutive year), and World's Best PRM* and Accessible Facilities category (for the seventh consecutive year). In addition, Haneda Airport was ranked second in the Best Airports in Asia category, a comprehensive evaluation of airports in Asia, and third in the World's Best Airports category, a comprehensive evaluation of airports.
(*PRM: Persons with reduced mobility, which refers to the elderly and persons with disabilities or injuries.)
The JAT Group will continue to strive to improve convenience, comfort, and functionality while establishing absolute safety at the passenger terminal, which is a social infrastructure, and to contribute to the continuous creation of value at Haneda Airport and the further growth of air transportation, thereby enhancing our corporate value.
Overview by Segment
The following is a breakdown of earnings by segment. Note that the figures for operating revenues of each segment include intersegment sales and the figures for operating income are equivalent to those for segment income.
[Facilities Management]
(Millions of yen)
Operating Results
First nine months of FY2024 (from April 1, 2024 to December 31, 2024)
First nine months of FY2025 (from April 1, 2025 to December 31, 2025)
Year-on-Year (%)
Sales to external customers
78,634
88,281
12.3
Rent revenue
15,498
16,421
6.0
Facility user charges
revenue
44,859
51,166
14.1
Other revenues
18,275
20,693
13.2
Intersegment sales and transfers
2,457
2,511
2.2
Total of operating revenues
81,091
90,792
12.0
Segment income
16,592
22,128
33.4
Rent revenue increased from the previous year primarily due to the increase in rent income on a percentage basis reflecting sales increases at tenant stores and rent revision for domestic terminal stores.
Facility user charges revenue increased from the previous year due to the increase in the number of passengers and the revision to passenger service facility charges for domestic flights carried out in April last year.
Other revenues increased from the previous year primarily thanks to the effects of the price revisions at paid lounges and parking as well as increases in revenues at foreign exchange stores and advertising revenue, in addition to the increase in
number of passengers.
On the expenses side, there was depreciation following the opening of the connection between the satellite building on the north side of Terminal 2 and the main building and an increase in the cost for terminal maintenance and management
reflecting rising prices.
As a result, operating revenues from facilities management operations totaled ¥90,792 million (an increase of 12.0% year-on- year). Operating income for the segment came to ¥22,128 million (an increase of 33.4% year-on-year)..
[Merchandise Sales]
(Millions of yen)
Operating Results
First nine months of FY2024 (from April 1, 2024 to December 31, 2024)
First nine months of FY2025 (from April 1, 2025 to December 31, 2025)
Year-on-Year (%)
Sales to external customers
110,463
115,187
4.3
Sales at domestic
terminal stores
10,935
11,859
8.5
Sales at international
terminal stores
71,847
71,901
0.1
Other revenues
27,680
31,426
13.5
Intersegment sales and transfers
1,332
1,153
(13.4)
Total of operating revenues
111,795
116,341
4.1
Segment income
22,742
20,775
(8.6)
Sales at domestic terminal stores increased from the previous year owing to an increase in the number of passengers for domestic flights and the efforts to capitalize on passenger demand by actively hosting fairs and events.
Sales at international terminal stores saw a significant year-on-year decline in the first quarter (April-June) for Haneda Duty Free. However, in the third quarter (October-December), sales exceeded the previous year, and with increases at other locations as well, the cumulative total slightly exceeded the level of the same period last year.
Other revenues increased from the previous year because of the increase in wholesale revenue from other airports due to the increase in foreign passengers visiting Japan.
On the expenses side, the cost of goods sold increased as wholesale sales, which have a relatively high cost of sales ratio, rose while labor costs, advertising expenses, and rent expenses at business bases other than Haneda Airport also increased.
As a result, operating revenues from merchandise sales operations were ¥116,341 million (an increase of 4.1% year-on-year), and operating income for the segment was ¥20,775 million (a decrease of 8.6% year-on-year).
[Food and Beverage]
(Millions of yen)
Operating Results
First nine months of FY2024 (from April 1, 2024 to December 31,
2024)
First nine months of FY2025 (from April 1, 2025 to December 31, 2025)
Year-on-Year (%)
Sales to external customers
12,456
13,670
9.7
Sales from food and
beverage stores
6,467
6,520
0.8
Sales from in-flight meals
5,041
5,946
18.0
Other revenues
947
1,203
26.9
Intersegment sales and transfers
707
757
7.1
Total of operating revenues
13,163
14,428
9.6
Segment income
451
1,143
153.5
Sales from food and beverage stores increased from the previous fiscal year as the number of passengers grew, despite the decline in the number of directly operated restaurants following the renovation of the Terminal 1 food court.
Sales from in-flight meals increased from the previous year due mainly to the increase in passenger volume of the foreign carriers at Haneda Airport and Narita Airport and a rise in the unit price of meals.
As a result, operating revenues from food and beverage operations totaled ¥14,428 million (an increase of 9.6% year-on-year). Operating income for the segment came to ¥1,143 million (an increase of 153.5% year-on-year) in spite of the impacts from soaring prices of food ingredients as well as the rise in labor costs.
Explanation of Financial Position (Assets)
Current assets increased by ¥9,500 million from the previous fiscal year end to ¥140,434 million. This was primarily due to an increase in accounts receivable for facility user charges revenue. Fixed assets increased by ¥4,397 million from the previous fiscal year end to ¥343,419 million. This was mainly attributable to the acquisition of fixed assets associated with the construction of the satellite building on the north side of Terminal 1.
As a result, total assets increased by ¥13,897 million from the end of the previous fiscal year to ¥483,853 million.
(Liabilities)
Total liabilities declined by ¥5,846 million from the previous fiscal year end to ¥265,761 million. This was primarily due to a decline in long-term loans payable reflecting scheduled repayment and redemption before maturity despite an increase in accounts payable from merchandise purchases.
(Net assets)
Total net assets increased by ¥19,744 million from the previous fiscal year end to ¥218,091 million. This was primarily due to increases in retained earnings and non-controlling interests.
As a result, the equity ratio was 41.6% (compared with 39.9% at the end of the previous fiscal year).
Explanation of Consolidated Financial Forecasts and Other Forward-looking Statements
During the first nine months of the fiscal year ending March 31, 2026, the number of passengers at Haneda Airport came generally in line with the forecast. Operating revenues exceeded the forecast and operating income also outperformed the forecast, partly reflecting efforts to reduce selling, general and administrative expenses.
Going forward, the Chinese government has been recommending its people refrain from traveling to Japan and there is a risk of sales at duty-free stores and wholesale sales to other airports decreasing as the number of Chinese travelers visiting Japan declines. While the number of passengers for international flights at Haneda Airport is currently steady, the outlook remains unclear, because of which we are not revising the full-year financial forecasts. We will continue to closely monitor the future development.
Quarterly Consolidated Financial Statements and Notes
Quarterly Consolidated Balance Sheets
(Millions of yen)
FY2024
(As of March 31, 2025)
First Nine Months of FY2025 (As of December 31, 2025)
ASSETS
Current assets
Cash and deposits
85,908
87,381
Accounts receivable
27,387
30,580
Merchandise and finished products
11,148
11,831
Raw materials and stored goods
328
415
Other current assets
6,310
10,395
Allowance for doubtful accounts
(150)
(170)
Total current assets
130,933
140,434
Fixed assets
Tangible fixed assets
Buildings and structures
593,957
597,452
Accumulated depreciation and impairment loss
(380,574)
(395,804)
Buildings and structures (net)
213,383
201,647
Machinery, equipment and vehicles
37,419
37,321
Accumulated depreciation and impairment loss
(25,028)
(26,036)
Machinery, equipment and vehicles (net)
12,391
11,285
Land
12,907
12,907
Lease assets
3,901
4,101
Accumulated depreciation and impairment loss
(2,888)
(3,195)
Lease assets (net)
1,013
906
Construction in progress
16,184
33,080
Other tangible fixed assets
74,848
75,862
Accumulated depreciation and impairment loss
(62,562)
(64,934)
Other tangible fixed assets (net)
12,285
10,928
Total tangible fixed assets
268,165
270,755
Intangible fixed assets
Leasehold right
25,981
24,597
Other intangible fixed assets
4,645
4,316
Total intangible fixed assets
30,627
28,914
Investments and other assets
Investment securities
22,766
26,048
Deferred tax assets
11,555
11,699
Net defined benefit assets
2,224
2,334
Other investments
4,131
4,115
Allowance for doubtful accounts
(449)
(449)
Total investments and other assets
40,228
43,748
Total fixed assets
339,021
343,419
TOTAL ASSETS
469,955
483,853
(Millions of yen)
FY2024
(As of March 31, 2025)
First nine months of FY2025 (As of December 31, 2025)
LIABILITIES
Current liabilities
Accounts payable
13,496
16,299
Short-term loans payable
14,358
14,903
Accrued expenses
15,600
15,921
Income taxes payable
4,615
4,373
Allowance for employees' bonuses
2,903
1,479
Allowance for directors' bonuses
356
226
Other current liabilities
17,722
11,960
Total current liabilities
69,053
65,166
Fixed liabilities
Bonds
56,832
76,714
Long-term loans payable
134,541
113,625
Lease obligations
664
533
Deferred tax liabilities
518
208
Provision for share awards
458
746
Net defined benefit liabilities
4,551
4,797
Asset retirement obligations
644
649
Other fixed liabilities
4,342
3,319
Total fixed liabilities
202,554
200,595
TOTAL LIABILITIES
271,608
265,761
NET ASSETS
Shareholders' equity
Common stock
38,126
38,126
Capital surplus
54,083
54,083
Retained earnings
92,678
105,605
Treasury stock
(1,653)
(1,555)
Total shareholders' equity
183,235
196,260
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
3,103
4,240
Deferred gains (losses) on hedges
69
74
Foreign currency translation adjustment
198
175
Remeasurements of defined benefit plans
776
762
Total accumulated other comprehensive income
4,148
5,253
Non-controlling interests
10,963
16,578
TOTAL NET ASSETS
198,347
218,091
TOTAL LIABILITIES AND NET ASSETS
469,955
483,853
Quarterly Consolidated Statements of Income and Quarterly Consolidated Statements of Comprehensive Income Quarterly Consolidated Statements of Income
(Millions of yen)
First Nine Months of FY2024 (from April 1, 2024 to December
31, 2024)
First Nine Months of FY2025 (from April 1, 2025 to December
31, 2025)
Operating revenues
Rent revenue
15,498
16,421
Facility user charges revenue
44,859
51,166
Other revenues
18,949
21,345
Sale of merchandise
110,261
114,864
Sale of food and beverage
11,984
13,342
Total operating revenues
201,553
217,139
Cost of sales
Cost of sales of merchandise
64,862
68,095
Cost of sales of food and beverage
6,803
7,483
Total cost of sales
71,666
75,579
Gross profit
129,887
141,560
Selling, general and administrative expenses
97,856
105,977
Operating income
32,030
35,582
Non-operating income
Interest income
55
132
Dividends income
462
547
Equity in earnings of affiliates
798
973
Miscellaneous income
738
924
Total non-operating income
2,055
2,577
Non-operating expenses
Interest expenses
2,466
2,743
Loss on retirement of fixed assets
542
567
Miscellaneous expenses
274
534
Total non-operating expenses
3,283
3,845
Ordinary income
30,801
34,315
Extraordinary gains
National subsidies
142
87
Total extraordinary gains
142
87
Extraordinary loss
Loss on reduction entry of fixed assets
84
67
Loss on valuation of investment securities
500
-
Total extraordinary loss
584
67
Quarterly income before income taxes and non-controlling
interests
30,359
34,334
Income taxes - current
5,322
6,472
Quarterly income
25,037
27,861
Quarterly net income attributable to non-controlling
interests
6,279
5,620
Net income attributable to owners of the parent
18,757
22,240
Quarterly Consolidated Statements of Comprehensive Income
(Millions of yen)
First Nine Months of FY2024 (from April 1, 2024 to
December 31, 2024)
First Nine Months of FY2025 (from April 1, 2025 to
December 31, 2025)
Quarterly income
25,037
27,861
Other comprehensive income
Valuation difference on available-for-sale securities
(231)
1,167
Deferred gains (losses) on hedges
413
9
Foreign currency translation adjustment
8
(22)
Remeasurements of defined benefit plans
(77)
(53)
Share of other comprehensive income of associates
accounted for using equity method
(2)
35
Total other comprehensive income
109
1,136
Comprehensive income
25,147
28,997
Comprehensive income attributable to:
Comprehensive income attributable to owners of the
parent
18,836
23,345
Comprehensive income attributable to non-controlling
interests
6,311
5,652
Notes on Quarterly Consolidated Financial Statements (Notes on the Premise of a Going Concern)
Not applicable
(Notes on a Significant Change in Shareholders' Equity)
Not applicable
(Adoption of Special Accounting Methods for Preparation of Quarterly Consolidated Financial Statements)
Calculation of tax expenses
The effective tax rate on income before taxes for the consolidated fiscal year, including the first nine months under review after the application of tax effect accounting is reasonably estimated, and that estimated rate is applied to quarterly income before taxes to calculate estimated tax expenses. However, in cases where the use of such an estimated effective tax rate would result in a significant lack of rationality, the statutory effective tax rate is applied.
(Notes on Quarterly Consolidated Statements of Cash Flows)
Quarterly consolidated statements of cash flows for the first nine months of the fiscal year ending March 31, 2026, have not been prepared. Depreciation and amortization (including amortization related to intangible assets) for the first nine months of the current fiscal year is as follows:
First nine months of FY2024 (from April 1, 2024 to
December 31, 2024)
First nine months of FY2025 (from April 1, 2025 to
December 31, 2025)
Depreciation 20,823 millions of yen 22,336 millions of yen
(Change in Presentation Method)
(Quarterly Consolidated Statements of Income)
Starting the third quarter of the current consolidated fiscal year, we adopted a method to collectively record "Selling, general and administrative expenses," rather than categorizing and recording them under separate expense items, to improve
comprehensibility and clarity of quarterly consolidated statements of income. We have reclassified the quarterly consolidated financial statements for the third quarter of the previous consolidated fiscal year to reflect the change in the presentation method.
Starting the third quarter of the current consolidated fiscal year, we renamed what had been recorded as "miscellaneous income" under non-operating income in the third quarter of the previous fiscal year as "other" under non-operating income, and what had been recorded as "miscellaneous expenses" under non-operating expenses as "other" under non-operating expenses to improve consistency and clarity of quarterly consolidated statements of income. We have reclassified the quarterly consolidated financial statements for the third quarter of the previous consolidated fiscal year to reflect the change in the
presentation method.
As a result, ¥738 million in "miscellaneous income" under non-operating income in the quarterly consolidated statement of income for the third quarter of the previous fiscal year was reclassified as ¥738 million in "other" under non-operating income, and ¥274 million in "miscellaneous expenses" under non-operating expenses was reclassified as ¥274 million in "other" under non-operating expenses.
(Segment Information)
Segment Information
First nine months of FY2024 (from April 1, 2024 to December 31, 2024)
Sales and income by reportable segment
(Millions of yen)
Reportable segments
Adjustments (Note 1)
Quarterly consolidated financial
statements (Note 2)
Facilities Management
Merchandise Sales
Food and Beverage
Total
Operating revenues
Sales to external customers
78,634
110,463
12,456
201,553
-
201,553
Intersegment sales and transfers
2,457
1,332
707
4,496
(4,496)
-
Total
81,091
111,795
13,163
206,050
(4,496)
201,553
Segment income
16,592
22,742
451
39,786
(7,755)
32,030
(Notes) 1. Adjustments to the segment income include ¥7,760 million in administration expenses for administration divisions at the parent company's head office and some of the subsidiaries, which are not allocated to each of the reportable segments.
Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.
2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment Not applicable
First nine months of FY2025 (from April 1, 2025 to December 31, 2025)
Sales and income by reportable segment
(Millions of yen)
Reportable segments
Adjustments (Note 1)
Quarterly consolidated financial
statements (Note 2)
Facilities Management
Merchandise Sales
Food and Beverage
Total
Operating revenues
Sales to external customers
88,281
115,187
13,670
217,139
-
217,139
Intersegment sales and transfers
2,511
1,153
757
4,422
(4,422)
-
Total
90,792
116,341
14,428
221,561
(4,422)
217,139
Segment income
22,128
20,775
1,143
44,047
(8,464)
35,582
(Notes) 1. Adjustments to the segment income include ¥8,480 million in administration expenses for administration divisions at the parent company's head office and some of the subsidiaries, which are not allocated to each of the reportable segments.
Segment income is adjusted with operating income recorded in the Quarterly Consolidated Statements of Income.
2. Information on impairment loss on fixed assets and goodwill, etc., by reportable segment Not applicable
(Significant Subsequent Events)
(Future Direction of Consolidated Subsidiary)
The Company, at its Board of Directors Meeting held on February 4, 2026, resolved to withdraw a down-town duty-free store operated by the Company's consolidated subsidiary, Japan Duty Free Fa-So-La Mitsukoshi Isetan Co., Ltd. (the "Subsidiary"), from Ginza Mitsukoshi. In addition, the Company would begin discussions with the Subsidiary's other shareholders regarding the Subsidiary's future direction, including the dissolution and liquidation of the subsidiary.
For details, see the press release titled "Withdrawal of a Downtown Duty-Free Store from Ginza Mitsukoshi and Future Direction of the Consolidated Subsidiary" published today.
The Company expects the move to have negligible impact on its consolidated financial results for the current fiscal year. Should any matters requiring disclosure arise, the Company will announce them promptly.