Centrair (Central Japan International Airport)

Airports & travel retail

The Japan read

From the company's own filing for Full year to March 2026 · reported 2026-05-15 · the filing

InboundDuty-free sales fell as high-spending Chinese customers dwindled, pulling the commercial segment to ¥22.5bn (97.0% of last year), though other shops' concession sales rose on new and renewed outlets.
InboundInternational passengers rose 9.1% to 5.36m, with foreign visitors a record 3.39m (+5.7%) and Japanese 1.96m (+15.3%); weekly China flights fell from 111 in summer 2025 to 22 in summer 2026.
StoresCentrair opened a new Centrair Duty Free Centerpier store in April 2026 and is refitting its general duty-free shop, which sells cosmetics, while tailoring ranges to each market's tastes.

Other callouts in the filing

OutlookFor the year to March 2027 Centrair guides to sales of ¥51.0bn (-5.8%), operating profit of ¥2.3bn (-67.5%) and 11.0m passengers, with international down 13.3% to 4.65m, assuming no China recovery.
One-offNet income was cut by a one-off tax charge from writing down deferred tax assets, with the tax adjustment swinging to a ¥2.37bn cost from a ¥78m credit, and by interest costs rising to ¥1.03bn.

floortok's reading of the filing, in our own words. Figures are the company's own; where a growth rate is our arithmetic, it says so.

Show figures in

floortok holds 2 reported periods for this company.

Full year to March 2026

Reported 2026-05-15

Net sales¥54.1bn+2.4%

Operating profit¥7.1bn−8.9%

Net income¥3.0bn−55.7%

Centrair, the unlisted company behind Chubu Centrair International Airport near Nagoya, is the clearest example of what happens to an airport floor when Chinese traffic thins: net sales edged up 2.4% to ¥54.1bn in the year to March 2026, but the commercial segment slipped to ¥22.5bn from ¥23.2bn as duty-free sales fell with cuts to China routes, even as the general shops grew. Operating profit fell 8.9% to ¥7.1bn and net income 55.7% to ¥3.0bn. Passengers reached 11.59m, up 5.0%, but the company guides to 11.0m passengers and ¥51.0bn of sales for the year to March 2027, with net income near zero.

H1 (Apr–Sep 2025) · Year-to-Date

Reported 2025-11-14

Net sales¥27.7bn+7.9%

Operating profit¥4.6bn+18.2%

Net income¥2.4bn−24.7%

Centrair's first half to September 2025 grew on passengers: net sales rose 7.9% to ¥27.7bn and operating profit 18.2% to ¥4.6bn, while net income fell 24.7% to ¥2.4bn against a prior-year figure lifted by one-off items. The China-route cuts that hit duty-free sales arrived with the winter schedule, after this period.

InboundThe China-route cuts that later hit duty-free sales arrived with the winter schedule, after this half closed.
One-offNet income fell against a prior-year half that had been lifted by one-off items.