【9706.T FY2026 Q2 Earnings Call】Japan Airport Terminal Posts Record First-Half Operating Profit of ¥27.7 Billion, Up 29%; Full-Year Operating Profit Poised to Top ¥50 Billion for First Time, Led by Haneda Duty-Free - …

Japan Airport Terminal reported its second-quarter results for the fiscal year ending March 2027, with revenue of ¥148.6 billion and operating profit of ¥27.7 billion, both marking record highs for a first half.

The company benefited from rising international passenger traffic at Haneda Airport and a weak yen, with Haneda duty-free stores seeing gross merchandise value rise 20% year-on-year to ¥61.1 billion.

Selling, general and administrative expenses grew only modestly, contributing to the notable profit gain. The firm lifted its full-year outlook to revenue of ¥304.7 billion and operating profit of ¥51.5 billion, signaling an expected operating profit above ¥50 billion for the first time.

First-half net profit reached ¥14.1 billion, up 5.9%, but stayed below the initial forecast due to front-loaded tax expenses associated with the elimination of tax-loss carryforwards at some subsidiaries.

In capital policy, following a September secondary share offering of about ¥64.3 billion, the company announced a share buyback of up to ¥15 billion and a 1-for-3 stock split. President Tanaka noted the moves aim to ease overhang concerns and broaden the shareholder base.