Konoike Transport Acquires 20% of Shares of MASCORP, The Leading Airport Ground Handling*1 Company of the Philippines

Konoike Transport Co., Ltd. (Headquarters: Osaka, Japan; Representative Director & President and Chief Executive Officer: Tadahiko Konoike; hereinafter “Konoike Transport”) and MacroAsia Corporation (MAC; Headquarters: Manila, the Philippines; Chief Executive Officer: Dr. Lucio C. Tan) have agreed on the following: Konoike Transport will receive 20% of shares of MacroAsia Airport Services Corporation (MASCORP; Headquarters: Manila, the Philippines; President: Joseph T. Chua), a Philippine airport ground handling company, from MAC, the parent company of MASCORP; and 30% of shares of Japan Airport Service Co., Ltd. (JASCO; Headquarters: Chiba, Japan; Chief Executive Officer: Kazunori Aoto), a consolidated subsidiary of Konoike Transport that operates ground handling business at Narita Airport, will be transferred to MAC from NKS Holding Co., Ltd. (Headquarters: Tokyo, Japan; Chief Executive Officer: Kazunori Aoto), the holding company of JASCO. On November 5, a share transfer agreement was concluded between the two companies (Konoike Transport and MAC) and a signing ceremony was held in Manila.

※1: The term “ground handling” refers to various goods/cargo handling services conducted while aircrafts are on the ground (such as the loading/unloading and delivery of checked baggage, cargo or postal freight, and checked baggage sorting).