News Release

Establishment of Kansai Airports Kobe and
Signing of Project Agreement for Kobe Airport Concession

Sep 26, 2017

The consortium made up of ORIX Corporation ("ORIX"), VINCI Airports S.A.S. ("VINCI Airports") and Kansai Airports, an airport concession holder and operator, today announced the formation of a new company "Kansai Airports Kobe" to manage the Kobe Airport concession. At the same time, Kansai Airports Kobe signed a concession contract ("Project Agreement") with Kobe City for the operation of Kobe Airport. Toward the start of this airport operating business next April, Kansai Airports Kobe will succeed operational procedures from Kobe City in a secure and smooth manner to ensure safety and security at the airport as a top priority.

Kansai Airports Kobe, headquartered in Kobe City, is wholly owned by Kansai Airports and jointly-managed by representative directors, Yoshiyuki Yamaya, CEO, and Emmanuel Menanteau, Co-CEO, as in the case of Kansai Airports.

Kansai Airports, the operator of Kansai International Airport and Osaka International Airport, commenced its business on April 1, 2016, marking the joining of forces between two complementary companies: ORIX, which has a strong footprint in the Kansai region, and VINCI Airports, whose successful track-record in airports operation has been extended in Portugal, Cambodia, France and Chile. ORIX and VINCI Airports each hold a 40% shareholding, while 30 other investors including companies based in Kansai region and financial institutes, hold the remaining 20%.

The transfer of airport operations to Kansai Airports Kobe is scheduled for April 1, 2018. During this period, Kansai Airports Kobe will work closely with Kobe City, airport employees, business partners and local communities.

By managing Kansai Airports Kobe, ORIX, VINCI Airports and Kansai Airports aim to improve services to passengers through appropriate investments and efficient operations, while placing the greatest focus on ensuring safety and security at Kobe Airport. Through the integrated operation of the three airports, the consortium will strive to make Kobe Airport more attractive to increase air traffic demand and promote economic growth across the Kansai region including Kobe.

1. Outline of the Concessionaire
(1) Name: Kansai Airports Kobe
(2) Location: 1, Kobe airport, Chuo-ku, Kobe-shi, Hyogo
(3) Company representatives:
    Representative Director and CEO: Yoshiyuki Yamaya
    Representative Director and Co-CEO: Emmanuel Menanteau
(4) Business scope: Operation and maintenance and management services, etc. of Kobe Airport
(5) Capital: 135 million yen
(6) Date of incorporation: August 10, 2017
(7) Fiscal year end: End of March
(8) Shareholding ratio: Kansai Airports 100%

2. Details of the Project Agreement
(1) Outline of the Project
The Project period is scheduled to be 42 years, from April 1, 2018 to March 31, 2060. In the Project, Kobe City will continue to own the airport site and facilities. The Concessionaire will be granted the operating right from Kobe City pursuant to the "Act on Promotion of Private Finance Initiative," and will engage in the operation of both the aviation-related businesses (operation and maintenance and management of runways, etc.) and non-aviation-related businesses (operation and maintenance and management of terminal buildings, etc.) for Kobe Airport. In principle, the losses and profits from the Project will belong to the Concessionaire. However, the aviation control business is outside the scope of the business of the Concessionaire.

(2) Parties to the agreement
    Kobe City and Kansai Airports Kobe
(3) Execution date of the agreement
    September 26, 2017
(4) Term of the agreement
    From September 26, 2017 to March 31, 2060
      (The term may be extended up to March 31, 2070, if agreed to)
(5) Scheduled commencement date of the Project
    April 1, 2018

September 26, 2017 Press Conference
Kansai Airports Kobe Strategy and Vision [2.0MB]

Kansai Airports
Corporate Communication Dept.

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