Jan 6, 2015

Kansai International / Itami concession
20 Companies pass the Participation Requirements Screening

Nine companies as representative business operators and 11 companies as business operators with airport operation capability, for a total of 20 companies, applied and passed the Participation Requirements Screening by the New Kansai International Airport Co., Ltd. regarding the setting and consignment of operating rights (concession) at Kansai International Airport and Itami Airport to the private sector.
Japanese companies including trade firms and real estate companies applied as representative business operators, and overseas airport operations companies applied as candidates for airport operations, and passed the review. Next, these candidates will undergo various procedures, such as a First Screening, competitive dialogue, and a Second Screening, and the Preferred Negotiation Right Holder will be selected around June this year. After execution of the Project Agreement around September, the project is scheduled to commence around January next year.

Companies which passed the Participation Requirements Screening as candidate representative business operators, or as candidate business operators with airport operation capability, are shown in the table. In the future, these companies will coordinate with airport operation related companies which also passed this review to form a consortium that includes other companies/investors, and prepare for the First Screening.

Looking at the schedule from now, submission deadline of First Screening documents is February 16, and notification and announcement of the results is set for March 17. Competitive dialogues will be carried out from March 18 to April 20, and submission deadline of Second Screening documents is May 20. After that, selection of Preferred Negotiation Right Holder will take place in June, execution of the Basic Agreement in July, grant of operating rights in August, and execution of the Project Agreement in September. Commencement of the Project is planned around January next year.

Kansai International/Itami Concession has indicated as its policy to aim for steady repayment of debt of Kansai International Airport, expansion of air transportation demand in Kansai, and activation of the Kansai and Japanese economy. The idea is to consign operating rights of the airport to the private sector by merging the business of Kansai International Airport with Itami Airport, and pay back the debt using concessions from the operating rights.

The preferred negotiation right holder will establish a special purpose company (SPC) intended only for the operating business of the said airport. SPC will obtain the real estate of the New Kansai International Airport Co., Ltd., as well as accept the settings of the operational rights regarding airport related facilities. Moreover, it will integrate aviation businesses (operation of the runway) and non-aviation business (operation of airport terminal building and cargo terminal building), by receiving a stock transfer of New Kansai group companies, and aims to improve convenience and profitability by providing and managing more flexible services. The business term is set at about 45 years.

* "Steadily Move Forward"

Keiichi Ando, president of New Kansai International Airport Co., Ltd., gave the following comment regarding the publication of the companies which passed the Participation Requirements Screening for the Kansai International/Itami Concession.

* Companies which passed the Participation Requirements Screening related to the "Qualified Project etc. for Airport Operation of Kansai International Airport and Osaka International Airport" were announced. Application guidelines were distributed to investors expressing interest from November 12, 2014, for the review/certification of the participation qualifications as a representative business operator, or a business operator with airport operation capability.

* New Kansai International Airport Co., Ltd., will establish a mechanism which can achieve more effective business operations with watchfulness of the private sector, by switching to an operating system where the investors take a personal investment risk for profit, taking full advantage of their know-how. Through airport business development that takes advantage of the flexible original ingenuity of private sectors, and the prompt and secure repayment of debt by obtaining operating right dividends, the investor will stably implement procedures toward the establishment of the "Qualified Project, etc., for Airport Operation of Kansai International Airport and Osaka International Airport," contributing to the rebirth and strengthening of Kansai International Airport as an international hub airport, and expanding the demand for air transportation throughout the Kansai area, with the cooperation of related personnel.

List of companies which passed the Participation Requirements Screening regarding the Qualified Project, etc., for Airport Operations of Kansai International Airport and Osaka International Airport

Private business operators
ORIX Corporation
Sumitomo Realty & Development Co., Ltd.
Daiwa House Industry Co., Ltd.
Tokyu Corporation
Nippon Life Insurance Company
Marubeni Corporation
Mitsui Fudosan Co., Ltd
Mitsubishi Corporation
Mitsubishi Estate Co., Ltd.

Business operators with airport operation capability
AMP Capital Investors Limited
Atlantia S.p.A.
Changi Airports International Pte.Ltd.
Ferrovial Aeropuertos S.A.U.
Global Infrastructure Management, LLC
GMR Infrastructure Limited
IFM Investors Pty Ltd
Macquarie Capital Group Limited
Manchester Airports Holdings Limited
Public Sector Pension Investment
Board AviAlliance GmbH
VINCI Airports S.A.S.

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