Japan Airport Terminal executives resign amid misconduct investigation

Japan Airport Terminal Co., Ltd. (TSE:9706) announced that Chairman and CEO Isao Takashiro and President and COO Nobuaki Yokota have resigned after a special investigation revealed serious compliance breaches. The investigation uncovered that the executives engaged in inappropriate transactions related to supplier selection and transactions involving massage chairs at Haneda Airport, benefiting a company linked to the son of a former politician. These actions included directing business to specific companies and manipulating contract terms, leading to a filing of an amended tax return and a payment of more than JPY 66 million in total by subsidiary Big Wing Co., Ltd. Furthermore, an agency contract was entered into with Company W for advertising in Haneda Airport. As of the end of March 2025, the outstanding balance amounted to about JPY 19.28 million. JATCO filed an amended tax return and paid just under JPY 11 million in total for a service contract with Company Z. The company intends to implement strict disciplinary actions, enhance compliance measures, and reform its corporate governance to restore trust.