Sojitz and Japan Airport Terminal Join Project to Manage Operations at Palau International Airport

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Aug. 21, 2017
Sojitz Corporation
Japan Airport Terminal Co., Ltd.

Sojitz Corporation (“Sojitz”) and Japan Airport Terminal Co., Ltd. (“Japan Airport Terminal”), through an intermediate holding company already established by the two companies, have set up Palau International Airport Corporation—a joint venture to manage operations at Palau International Airport—together with the government of Palau. Furthermore, the companies have concluded a contract with the government which will entrust them with airport operations for a 20-year period. This will be the first time for Sojitz and Japan Airport Terminal to participate in this kind of airport operations project overseas.

Total costs for the project are estimated at approximately JPY 3.5 billion, as it will entail not only refurbishing and expanding the existing international terminal to meet rising passenger numbers in Palau, but also administration and maintenance. Operations and remodeling/expansion work is scheduled to begin between March and May 2018, once the Palau government completes their in-kind investment and project handover.

Palau International Airport is the country’s sole international airport, and in recent years, it has grown in importance as the number of tourists and other visitors to Palau continues to increase. In taking over operation of this airport, the companies will combine their strengths to reduce congestion and provide more sophisticated and convenient airport services, as well as raise profitability by bolstering the lineup of airport stores and improving airline marketing. Sojitz will bring its abundant airport industry knowledge and network of contacts, while Japan Airport Terminal will contribute its expertise in airport terminal quality control and other experience gained through management of Haneda Airport’s passenger terminal.

Through this project, Sojitz and Japan Airport Terminal aim to help create sustainable social and economic growth in Palau, a country for which tourism remains a core industry.



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【Concept art of the completed Palau International Airport】

Related Information:

Overview of Palau International Airport

Location Airai, Babelthuap Island, Palau
(just outside of Koror, Palau’s largest city)
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Annual Number of Passengers
Approx. 280,000
(in 2016; excluding travelers with Palauan nationality)

Palau International Airport Corporation – Company Overview

Representative Director Koichi Yamaguchi, President & CEO
Main Business
Airport operations and management (passenger terminals, etc.)
Ownership
Palau government:49.0%
Japan Airport Management Partners Co. Ltd.:51.0%
(* Intermediate holding company: Sojitz – 50.0%, Japan Airport Terminal – 50.0%)

Sojitz Corporation – Company Overview

Representative Director Masayoshi Fujimoto, President & CEO
Stock Listing First Section, Tokyo Stock Exchange
Capitalization JPY 160,339,000,000
Main Business General trading company
Established April 1st, 2003
Homepage https://www.sojitz.com

Japan Airport Terminal Co., Ltd. – Company Overview

Representative Director Nobuaki Yokota, President & COO
Stock Listing First Section, Tokyo Stock Exchange
Capitalization JPY 17,489,200,000
Main Business Management of Haneda Airport’s passenger terminal, etc.
Established July 20th, 1953
Homepage https://www.tokyo-airport-bldg.co.jp

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