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Investor Presentaiton

2. Details of Consolidated Financial Forecast for FY18 (2) Financial Forecast by Segment (ii) Merchandise sales Items FY18 (Forecast) FY17 (Results) Initial forecast (May 2018) Change Amount affected due Rate of Change Difference Ratio Ratio Ratio Amount affected due to TIAT consolidation to TIAT consolidation Millions of yen Millions of yen % Millions of yen % Millions of yen % Millions of yen Millions of yen Millions of yen % Sales to external customers Domestic terminal stores 35,700 20.2 35,153 23.6 546 1.6 35,239 21.1 460 International terminal stores 102,100 57.6 62,400 35,497 23.9 66,602 187.6 94,862 56.8 58,364 7,237 Other sales 38,400 21.7 -51,700 77,136 51.9 -38,736 -50.2 36,067 21.6 -47,626 2,332 Subtotal 176,200 99.5 10,700 147,787 99.4 28,412 19.2 166,168 99.5 10,738 10,031 Intersegment sales 900 0.5 860 0.6 39 4.6 842 0.5 57 Total 177,100 100.0 10,700 148,647 100.0 28,452 19.1 167,011 100.0 10,738 10,088 Operating expenses 161,100 91.0 7,400 137,324 92.4 23,775 17.3 148,668 89.0 3,966 12,431 Operating income 16,000 9.0 3,300 11,322 7.6 4,677 41.3 18,342 11.0 6,771 -2,342 (Ratio) ( 9.0%) ( 7.6%) ( 1.4P) ( 11.0%) (-2.0P) . • · Domestic terminal stores: International terminal stores: Increase in sales of directly managed stores at Haneda domestic terminal, etc. Sales of Haneda international terminal duty-free stores Increase in sales of directly managed stores at Narita Airport Decrease in sales of directly managed stores at Kansai Airport Increase in sales of directly managed stores at Chubu Centrair Airport Increase in sales of urban duty-free stores +0.4 billion +62.3 billion +1.5 billion 0.6 billion +1.0 billion • Other sales: +1.7 billion Increase in wholesale sales to Narita Airport, Chubu Centrair Airport and other regional airports +4.4 billion Decrease in Haneda international terminal duty-free store wholesale sales from subsidiary consolidation -43.0 billion * Upon distributing expenses between the facilities management and the merchandise sales segments, differences between the initial forecasts and the results were corrected in the full-year forecast. 31 Note: Figures shown are rounded down to the nearest million yen.
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