Japan Post Group reports fourth quarter financial results

Japan Post Group

Japan Post Holdings has released its financial results for the fourth quarter ended June 30, 2018. Total ordinary income decreased 3.4% to ¥*3,159.1bn in the fourth quarter, compared with ¥3,271.1bn in the fourth quarter 2017. Net ordinary income decreased as well by 7.9% year-over-year to ¥210.1bn compared with ¥218bn. This was largely driven by the changes in the Japan Post Insurance subsidiary, where ordinary incomes decreased by 6.4%.

Fourth quarter ordinary income for the Japan Post Co. subsidiary totalled ¥950.1bn, an increase of 4.1% over the prior year, primarily driven by the increase in volumes of Yu-Pack handled by the Postal and Domestic Logistics segment. Net ordinary income increased 236.4% year-over-year to ¥25.1bn

In the Post Office segment, operating income totalled ¥331.6bn, a 1.2% increase from the same period 2017. Net operating income decreased 26.6% to ¥10.8bn.  

The Post Co.’s Postal and Domestic Logistics Business segment managed to generate an operating income increase of 36.1% to ¥497.7bn. Segment’s growth was led by growing demands in Yu-Pack and Yu-Mail, where volumes increased by 24.6% year-over-year, respectively 1.84%. Net operating income was 21.3% higher than in Q4 2017.

In the International Logistics Business segment, the operating income totalled ¥169.0bn, a 4.9% increase from the same period 2017. EBIT increased 188.88% to ¥0.6bn, mainly due to a decrease in net operating loss in the Global Express business.

Source: Japan Post Group

*¥=0.0079€/ ¥=0.0090