AIRPORT FACILITIES Co.,LTD. (8864) Stock Price

Airport Facilities operates real estate businesses both inside and outside airports, airport infrastructure businesses, and other operations. These businesses are conducted by the company and its 9 subsidiaries. Below is a detailed overview of each business segment.

The airport real estate business handles rental of office buildings, hangars, factory buildings, and other properties within airports. Airport Facilities itself plays the primary role in this segment.

The off-airport real estate business manages rental and sales of office buildings, residential apartments, hotels, and other properties. In this field, Airport Facilities and AFC Asset Management Co., Ltd. operate as the main companies.

The airport infrastructure business includes district heating and cooling operations, water supply and sewage operations, and shared telecommunications services. Airport Facilities and Tokyo Airport Air Conditioning Co., Ltd. manage this segment.

Other businesses include overseas real estate rental, loan financing, equipment leasing, and solar power generation. In this area, Airport Facilities and its affiliated companies—AIRPORT FACILITIES ASIA PTE.LTD., AFS PROPERTIES PTE.LTD., AFN PROPERTIES LTD., and AFC Shoji Co., Ltd.—are active.

Haneda Airport Terminal Company is advancing its growth strategy based on a corporate mission to contribute to the future of aviation and the development of attractive cities. Under its medium- to long-term management plan (FY2022–FY2028) established in 2022, business operations are progressing steadily against the backdrop of recovering aviation demand. In particular, the company expects to achieve some of its FY2028 numerical targets ahead of schedule, with FY2025 performance projections indicating early milestone achievement.

The company has positioned the "Haneda Airport Block 1 Project" as a key strategic initiative; however, it is restructuring the plan in response to rising construction costs. In response to capital market expectations, the company is also focusing on investor relations activities aimed at enhancing corporate value and shareholder returns. Through these efforts, the company is strengthening its earnings foundation and pursuing sustainable growth.

In 2025, the company is reviewing its medium- to long-term management plan and restructuring its business strategy and capital policy. It is reorganizing the Haneda Airport Block 1 Project's strategic direction and strengthening capital policies aimed at improving capital efficiency and market valuation. Through these initiatives, the company is targeting an upward revision of FY2028 numerical targets and building a revenue foundation to support sustainable growth.

To realize management that is conscious of capital costs and stock price, the company is targeting improved return on equity (ROE). Current ROE falls below the cost of shareholder capital; however, through the plan review, the company aims to raise ROE to 6.0%. The company will continue implementing growth investments and capital measures to improve capital returns.