JAPAN. NAA Retailing, the new joint venture between Japan Airport Terminal Co (JATCO) and Narita Airport Authority, will take over ten shops and restaurants at Tokyo Narita Airport on 1 July.
NAA Retailing Corporation Senior Vice-President Takaaki Iwamatsu told The Moodie Report that three further shops will be opened subsequently by the partnership. In late November a duty free shop will be opened in terminal one. The 110sq m satellite shop will sell cosmetics, fragrances, tobacco, liquor and fashion items.
Additionally a book shop will be opened in T1 airside in July and a “˜Wagon shop’ will also open that month in T1 as a satellite store selling Japanese souvenirs, food and beverages.
Existing shops and food & beverage outlets to be operated by the partnership are as follows:
* Two travel kiosks: T1 airside, dealing in travel goods and Japanese souvenirs
* Three gift shops: two in T1 landside and one in T1 airside, mainly dealing in Japanese souvenirs
* One electronics shop: T1 airside
* One restaurant: T1 airside
* One cafe: T1 airside
* Two brand boutiques: T1 airside
Initially, purchasing will be conducted with the established JATCO operation.
Iwamatsu said NAA Retailing is targeting sales of ¥2.7 billion (US$24.4 million) for the 2004 financial year and ¥10 billion (US$90.5 million) by 2006. By 2006 duty free will account for around 60% of revenues with other sources such as F&B generating the balance.
NAA Retailing was formally established on 26 May with a paid-up capital of Â¥90 million (US$0.8 million) and 1800 shares and some 90 employees. Narita Airport Authority holds 1200 shares and JATCO 600. The board members are NAA’s Takao Nagai who is President and CEO, plus Senior Vice-Presidents Yoshio Kobayashi (NAA) and Takaaki Iwamatsu (JATCO).
NAA Retailing Corporation is the commercial arm of Narita International Airport Corp, which was unveiled last month as the privatized successor to the New Tokyo International Airport Authority. The new airport body has announced three joint ventures to manage duty free retailing and other commercial activities at Narita – with JATCO, All Nippon Airways and Japan Airlines System Corp respectively.
MORE STORIES ON TOKYO NARITA AIRPORT
Iwamatsu promoted within new joint venture – 28/05/04
Golden Week begins with a rush at Narita, Kansai – 29/04/04 Narita posts rise in international traffic though Kansai slips – 05/04/04
New Narita airport body announces duty free structure – 02/04/04
