Overview
Real Estate

AIRPORT FACILITIES Co.,LTD.

Airport Facilities Co., Ltd. is a real estate and infrastructure services company specializing in airport-related properties across Japan and overseas. The company develops, owns, and leases office buildings, hangars, maintenance facilities, and cargo terminals primarily at major Japanese airports including Tokyo International (Haneda), as well as off-airport commercial real estate such as hotels, residential buildings, and logistics centers. In addition, the company operates airport infrastructure services including district heating and cooling, water and sewage management, and shared telecommunications systems, while also pursuing international real estate investments in Singapore and Canada.

Market Cap
¥45.4B
US$290M
EV
¥52.7B
US$336M
Stock¥919▲+0.66%
US$1 = ¥156.80 (2026-10-23)
LTM EV/EBITDA
5.1
x
LTM EV/EBIT
8.6
x
LTM PER
16.1
x
LTM PBR
0.7
x
Stock vs TOPIX (1Y, base=100)vs TOPIX ▼-33.9%pt
1001
Oct 24, 25 – Oct 23, 26StockTOPIX
1Jul 30, 26Q1 FY2027/03 earnings announced
MC → EV Bridge
45.4BUS$290MMarket Cap23.2BUS$148M+ Debt7.24BUS$46.2M− Cash11.5BUS$73.4M− Inv. Sec.2.81BUS$17.9M+ NCI52.7BUS$336MEV
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Performance & Balance
Revenue 5Y (¥B)
23.8US$152M'22/325.5US$163M'23/326.0US$165M'24/331.1US$198M'25/336.8US$235M'26/3
EBITDA 5Y (¥B)
7.42US$47.3M'22/37.33US$46.7M'23/38.00US$51.0M'24/39.21US$58.8M'25/311.2US$71.3M'26/3
Net Income 5Y (¥B)
0.82US$5.24M'22/31.56US$9.97M'23/32.02US$12.9M'24/32.58US$16.4M'25/33.48US$22.2M'26/3
Capital Structure
73%
27%
EquityD/E 0.38xDebt
Liquidity vs Debt 5Y (¥B)▼ Net Debt
CashInv. Sec.Debt
16.2US$103M30.8US$196M'22/317.9US$114M27.3US$174M'23/322.3US$142M32.1US$205M'24/317.7US$113M27.0US$172M'25/324.5US$156M27.6US$176M'26/3
Shareholders
Top 10 hold 73.6%
1
Japan Airlines Co.,Ltd.
21.30%
2
ANA HOLDINGS INC.
21.30%
3
Development Bank of Japan Inc.
14.01%
4
The Master Trust Bank of Japan, Ltd. (Trust Account)
5.95%
5
NORTHERN TRUST CO. (AVFC)RE IEDP AIF CLIENTS NON TREATY ACCOUNT (Standing Proxy: The Hongkong and Shanghai Banking Corporation Limited, Tokyo Branch)
3.24%
6
BNYM AS AGT/CLTS NON TREATY JASDEC (Standing Proxy: MUFG Bank, Ltd.)
2.76%
7
BNYM AS AGT/CLTS TREATY JASDEC (Standing Proxy: MUFG Bank, Ltd.)
1.80%
8
Custody Bank of Japan, Ltd. (Trust Account)
1.41%
9
J.P.MORGAN SE - LUXEMBOURG BRANCH 381639 (Standing Proxy: Mizuho Bank, Ltd.)
1.15%
10
STATE STREET BANK AND TRUST COMPANY 505001 (Standing Proxy: Mizuho Bank, Ltd.)
0.69%
Management
11 officers
Shigeaki TAMURA
Representative Director, Chairman and Executive Officer
Jun 2017 Director, Senior Executive Officer, Head of Facilities Management Center Jun 2020 Senior Managing Director Jun 2022 Director, Managing Executive Officer Jun 2023 Representative Director, President and Executive Officer Jun 2026 Representative Director, Chairman and Executive Officer (current)
1960-03-30
Osamu SASAOKA
Representative Director, President and Executive Officer
Jul 2021 General Manager, Corporate Planning Department Jun 2022 General Manager, Corporate Planning Department, Corporate Planning & Finance Division Jun 2023 Director and Executive Officer Jun 2024 Director, Senior Executive Officer Jun 2025 Director, Managing Executive Officer Jun 2026 Representative Director, President and Executive Officer (current)
1973-12-15
Tadao NISHIO
Director, Executive Vice President and Executive Officer
Apr 2017 Managing Executive Officer, Head of Corporate Planning Division, Japan Airlines Co., Ltd. Apr 2021 Managing Executive Officer, Head of Passenger Sales Division, Japan Airlines Co., Ltd.; Representative Director, President, JAL Sales Co., Ltd. Apr 2022 Representative Director, Chairman, JALPAK Co., Ltd. Jun 2023 Representative Director, Executive Vice President and Executive Officer Jun 2026 Director, Executive Vice President and Executive Officer (current)
1961-10-02
Satoshi WATANABE
Director, Managing Executive Officer
Oct 2019 General Manager, Facilities Department Jun 2022 Executive Officer, General Manager, Facilities Planning Department, Facilities Division Jun 2023 Senior Executive Officer, Head of Engineering Division Jun 2024 Director, Senior Executive Officer Jun 2026 Director, Managing Executive Officer (current)
1966-07-05
Takahiro HAMA
Full-time Audit & Supervisory Board Member
Jun 2014 Deputy General Manager, Internal Audit Office Jun 2016 General Manager, Accounting Department Jun 2018 Executive Officer, General Manager, Accounting Department Jun 2022 Executive Officer, General Manager, Accounting Department, Corporate Planning & Finance Division Jun 2023 Full-time Audit & Supervisory Board Member (current)
1966-01-28
Toshihiro MIYAMAE
Director, Executive Vice President and Executive Officer
Apr 2022 Senior Executive Officer, All Nippon Airways Co., Ltd. Apr 2023 Director and Executive Officer, All Nippon Airways Co., Ltd. Apr 2025 Director, Managing Executive Officer, All Nippon Airways Co., Ltd. Apr 2026 Senior Advisor, ANA Holdings Inc. Jun 2026 Director, Executive Vice President and Executive Officer (current)
1964-02-23
Yasuo MIKI
Director
Oct 2005 Representative Director, President, VMware K.K. Mar 2015 Representative Director, Chairman, VMware K.K. Oct 2018 Chief Technology and Innovation Officer, Tokyo Organising Committee of the Olympic and Paralympic Games Jun 2022 Outside Director (Audit and Supervisory Committee Member), SCSK Corporation Jun 2024 Director (current)
1955-03-01
Mika OHASHI
Director
Apr 1997 Joined Okasan Securities Co., Ltd. Feb 2010 Registered as Attorney-at-law (Tokyo Bar Association) Oct 2018 Joined Nakajima Management Law Office (current) Jun 2025 Director (current)
1974-05-13
Masayuki TSUDA
Full-time Audit & Supervisory Board Member
Jun 2017 Managing Executive Officer, Development Bank of Japan Inc. Jun 2019 Director, Fuji Oil Co., Ltd. Jun 2021 Director and Executive Officer, Fuji Oil Co., Ltd. Jun 2023 Director, Managing Executive Officer, Fuji Oil Co., Ltd. Jun 2026 Full-time Audit & Supervisory Board Member (current)
1962-04-06
Sawako UENO
Audit & Supervisory Board Member
Sep 2019 Director, Deloitte Tohmatsu LLC Jan 2021 Certified Securities Investigator, Securities and Exchange Surveillance Commission, Financial Services Agency Apr 2023 Principal, Sawako Ueno Certified Public Accountant Office (current) Jun 2023 Outside Audit & Supervisory Board Member, Morinaga & Co., Ltd. (current) Jun 2023 Audit & Supervisory Board Member (current) Mar 2024 Outside Director (Audit Committee Member), Sumida Corporation (current) Nov 2025 Representative Director, Japan Integrity Co., Ltd. (current) Mar 2026 Outside Director (Audit and Supervisory Committee Member), AD Works Group Co., Ltd. (current)
1964-08-12
Hirokimi SUZUKI
Audit & Supervisory Board Member
Feb 1994 Registered as Certified Public Accountant Apr 2002 Employed, Suzuki Tax Accountant Office (current) Mar 2003 Registered as Certified Tax Accountant Jun 2016 Outside Audit & Supervisory Board Member, Athena Co., Ltd. (current) Apr 2023 Audit & Supervisory Board Member (resigned Jun 2023) Jul 2023 Audit & Supervisory Board Member (current)
1968-06-11
Large Shareholding Reports
No filings
Disclosures
No disclosures
Primary Source Filings
TDnet
2026-07-30
Q1 Earnings Flash
FY ending Mar 2027
EDINET
2026-06-23
Annual Securities Report
Period: Apr 2025 – Mar 2026
TDnet
2026-01-29
Q3 Earnings Flash
FY ending Mar 2026
EDINET
2025-11-04
Semi-Annual Securities Report
Period: Apr 2025 – Sep 2025
TDnet
2025-07-24
Q1 Earnings Flash
FY ending Mar 2026
EDINET
2025-06-25
Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2025-01-30
Q3 Earnings Flash
FY ending Mar 2025
EDINET
2024-11-01
Semi-Annual Securities Report
Period: Apr 2024 – Mar 2025
TDnet
2024-07-25
Q1 Earnings Flash
FY ending Mar 2025
EDINET
2024-06-27
Annual Securities Report
Period: Apr 2023 – Mar 2024
EDINET
2024-02-01
Quarterly Securities Report
Period: Oct 2023 – Dec 2023
EDINET
2023-11-01
Quarterly Securities Report
Period: Jul 2023 – Sep 2023
EDINET
2023-08-01
Quarterly Securities Report
Period: Apr 2023 – Jun 2023
EDINET
2023-06-30
Annual Securities Report
Period: Apr 2022 – Mar 2023
EDINET
2023-02-01
Quarterly Securities Report
Period: Oct 2022 – Dec 2022
EDINET
2022-11-01
Quarterly Securities Report
EDINET
2022-08-01
Quarterly Securities Report
EDINET
2022-06-29
Annual Securities Report
EDINET
2022-02-01
Quarterly Securities Report
EDINET
2021-11-01
Quarterly Securities Report
EDINET
2021-08-02
Quarterly Securities Report
EDINET
2021-06-29
Annual Securities Report
EDINET
2021-02-01
Quarterly Securities Report
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