IR Financial Highlights

Consolidated Operating Results

Units: 100 mil. yen

  FY2014 FY2015 FY2016 FY2017 FY2018
Operating Revenue 13,447 13,366 12,889 13,832 14,872
Operating Expense 11,650 11,274 11,186 12,086 13,111
Operating Profit 1,796 2,091 1,703 1,745 1,761
Operating Profit margin 13.4% 15.7% 13.2% 12.6% 11.8%
Net Income *1 1,490 1,744 1,641 1,354 1,508
EBITDA *2 2,655 2,977 2,661 2,854 3,002
EBITDAR *3 2,927 3,211 2,862 3,054 3,201

Consolidated Financial Position

Units: 100 mil. yen

  FY2014 FY2015 FY2016 FY2017 FY2018
Total Assets 14,733 15,789 17,287 18,542 20,303
Shareholders' Equity 7,764 8,430 9,720 10,603 11,651
Shareholders' Equity Ratio 52.7% 53.4% 56.2% 57.2% 57.4%
Interest-Bearing Debt 1,005 926 1,160 1,257 1,423

Consolidated Cash Flows

Units: 100 mil. yen

  FY2014 FY2015 FY2016 FY2017 FY2018
Cash flows from operating activities 2,611 3,123 2,531 2,815 2,967
Cash Flow from Investing Activities *4 (1,992) (2,072) (2,155) (1,801) (1,863)
Cash flows from financing activities (673) (496) (535) (558) (370)

* Amounts are rounded down.

*1 Net income attributable to owners of the parent
*2 EBITDA = Operating Profit + Depreciation and Amortization
*3 EBITDAR = Operating Profit + Depreciation and Amortization + Aircraft Rent
*4 Exclude deposits and withdrawals from deposit accounts

Rating Information

Announcement Date: May 17, 2019

Rating and Investment Information, Inc. (R&I) Issuer Rating A- (Positive)
Japan Credit Rating Agency, Ltd. (JCR) Long-term Issuer Rating A (Stable)