Sojitz Completes the JALUX Acquisition Alongside a Move into the Urban Air Mobility Business

Justin Lee

Singapore

December 31, 2022

1024px Kumamoto Airport Domestic 2015

The Aerospace & Transportation Project Division of Sojitz, which manages Sojitz’s small airport business, saw an improvement in its earnings for the six months ended 30 September 2022.

Mainly driven by improvement in the division’s aircraft-related businesses, the division’s gross profit improved from JPY6.7bn in the six months ended 30 September 2021 to JPY9.0bn in the six months ended 30 September 2022, while the profit for the period increased from JPY 1.4bn in the six months ended 30 September 2021 to JPY2.0mn in the six months ended 30 September 2022.

Sojitz Aerospace and Transportation

© Sojitz Corporation H1 FY22 Results

Sojitz’s income from airport operations from Kumamoto, Shimojishima, Palau and Khabarovsk airports has not been publicy-disclosed.

Khabarovsk

© Wikimedia Commons

Nevertheless, a significant achievement for Sojitz’s airport business in 2022 was the opening of the  new Palau International Airport Terminal on 8 May 2022. The new terminal was constructed through a public-private partnership with Sojitz Corporation, Japan Airport Terminal Co., Ltd. (JATCO), Japan Overseas Infrastructure Investment Corporation for Transport & Urban Development (JOIN) and the Palau government.

The development of the Palau International Airport terminal is the largest infrastructure development project in Palau and the first public-private partnership (PPP) project in a Pacific Island country which is supported by Japan.

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