Financial Highlights
for the Three Months Ended June 30, 2022
August 10, 2022
Japan Post Holdings: Financial Highlights
Results of Operations for the Three Months Ended June 30, 2022 | (Billions of yen) | ||||
Japan Post Holdings | |||||
Japan Post Co. | Japan Post Bank | Japan Post Insurance | |||
(Consolidated) | |||||
(Consolidated) | (Consolidated) | (Consolidated) | |||
Ordinary income | 2,718.2 | 856.3 | 448.8 | 1,608.9 | |
Year-on-year | (145.8) | (47.6) | (56.7) | (56.1) | |
(for the three months ended | |||||
June 30, 2021) | (5.1)% | (5.3)% | (11.2)% | (3.4)% | |
Change | |||||
Net ordinary income | 162.5 | 27.3 | 120.4 | 13.4 | |
Year-on-year | (125.8) | (7.2) | (42.2) | (78.6) | |
(for the three months ended | |||||
June 30, 2021) | (43.6)% | (20.9)% | (25.9)% | (85.4)% | |
Change | |||||
Net income | 118.5 | 29.7 | 88.8 | 11.6 | |
Year-on-year | (41.1) | (2.9) | (32.0) | (29.5) | |
(for the three months ended | |||||
June 30, 2021) | (25.8)% | (9.0)% | (26.4)% | (71.8)% | |
Change |
- Forecast for the Fiscal Year Ending March 31, 2023
Net ordinary income | 700.0 | 95.0 | 445.0 | 160.0 | |
[percentage achievement] | [23.2%] | [28.8%] | [27.0%] | [8.4%] | |
Net income | 400.0 | 60.0 | 320.0 | 71.0 | |
[percentage achievement] | [29.6%] | [49.6%] | [27.7%] | [16.4%] |
Notes: 1.Figures less than ¥0.1 billion are rounded down. The figures of Japan Post Holdings (consolidated) and the combined figures of each subsidiary do not correspond because of other consolidated accounting procedures, etc. 2.The amount of ordinary profit on the consolidated statements of income of Japan Post Insurance has been used for net ordinary income of Japan Post Insurance.
3.The amounts of net income attributable to Japan Post Holdings, net income attributable to Japan Post Co., net income attributable to Japan Post Bank and net income attributable to Japan Post Insurance have been used for net income of Japan Post Holdings (consolidated), Japan Post Co. (consolidated), Japan Post Bank (consolidated) and Japan Post Insurance (consolidated), respectively.
Copyright © 2022 JAPAN POST GROUP. All Rights Reserved. 1
Japan Post Co. (Consolidated) [Postal and Domestic Logistics Business]:
Financial Results
- The volume of items handled decreased by 2.5% in total year-on-year. Mail decreased by 2.5% and Yu-Mail decreased by 1.7%. Yu-Pack(note1) decreased by 5.7% year-on-year (including a decline of 7.3% in Yu-Packet), due mainly to the severe competitive environment.
- Operating income decreased by ¥13.5 billion year-on-year (a decrease of 2.8% year-on-year) due mainly to a decrease in volume of items handled.
- Net operating income decreased by ¥16.3 billion year-on-year (a decrease of 80.5% year-on-year), partly as a result of an increase in operating expenses of ¥2.8 billion year-on-year (an increase of 0.6% year-on-year), despite cost control initiatives and other measures.
Analysis of Year-on-year Change in Net Operating Income
(Billions of yen) | ||||||
〔Trends in Net Operating Income〕 | ||||||
Net operating | 2020 | 2021 | 2022 | |||
15.4 | 20.3 | 3.9 | ||||
income | Decrease in | |||||
(Three months | (three months ended June 30) | |||||
ended June | operating | |||||
30, 2021) | income |
20.3(13.5)
Other expenses (+0.6)
Collection, | ||||||||||||||
transport | Net operating | |||||||||||||
Personnel | and delivery | income | ||||||||||||
expenses | outsourcing | Miscellaneous | (Three months | |||||||||||
+2.1 | expenses | expenses | ended June | |||||||||||
(1.5) | +2.1 | 30, 2022) | ||||||||||||
3.9 | ||||||||||||||
Facility expenses | + 2.0 | ||||||||
Parcels | (7.2) | ||||||||
(Yu-Pack(note1) and Yu-Mail) | |||||||||
Domestic collection, | |||||||||
Sales revenue of | |||||||||
(3.8) | Delivery outsourcing | (0.9) | |||||||
Postage Stamps and Postcards | expenses | ||||||||
Standard mail | (3.3) | International mails | (0.5) | ||||||
delivery expenses | |||||||||
International mails | (3.1) | ||||||||
Revenue from new subsidiaries (note2) | + 6.4 | Salaries and allowances, etc. | + 1.5 | ||||||
Notes: 1. Yu-Pack includes Yu-Packet.
2. Revenue from new subsidiaries included in the scope of consolidation from the three months ended September 30, 2021.
Trends in Volume of Items Handled
5,000 | (Volume of items handled in millions) | |||||
4,582 | ( 0.7 %) | 4,549 | ( 2.5 %) | 4,433 | ||
286 | (13.8 %) | 247 | ||||
( 5.7 %) | 233 | |||||
Yu-Pack(note1) | ||||||
4,000 | 781 | +2.6 % | 801 | |||
( 1.7 %) | 787 | |||||
Yu-Mail | ||||||
3,000 | 3,515 | (0.4 %) | ( 2.5 %) | |||
3,501 | 3,414 | |||||
0 | 2020 | 2021 | 2022 | (three months ended June 30) | ||
Results of Operations for the Three Months Ended June 30, 2022
(Billions of yen) | |||||
For the three | |||||
Fmonthsor the | Year-on-year | ||||
three ended | months ended | ||||
change | |||||
June 30, 2022 | June 30, 2021 | ||||
Operating income | 475.0 | 488.5 | (13.5) | ||
Operating expenses | 471.0 | 468.1 | + 2.8 | ||
Personnel expenses | 302.8 | 300.6 | + 2.1 | ||
Other expenses | 168.1 | 167.5 | + 0.6 | ||
Net operating income | 3.9 | 20.3 | (16.3) |
Copyright © 2022 JAPAN POST GROUP. All Rights Reserved. 2
Japan Post Co. (Consolidated) [Post Office Business]:
Financial Results
- Operating income decreased by ¥16.5 billion year-on-year (a decrease of 5.8% year-on-year), with a continuing decrease in insurance commissions and banking commissions.
- Net operating income increased by ¥9.4 billion year-on-year (an increase of 82.9% year-on-year), as operating expenses fell by ¥26.0 billion year-on-year (a decrease of 9.5% year-on-year), primarily as a result of a significant decrease in personnel expenses associated with the transition to the Japan Post Insurance's new sales system from April 2022.
Analysis of Year-on-year Change in Net Operating Income | Trends in the Earnings Structure | ||
〔Trends in Net Operating Income〕 | (Billions of yen) | (Billions of yen) |
2020 | 2021 | 2022 | 303.9 | Other operating income | |||||||||||
Of which: | |||||||||||||||
14.7 | 11.3 | 20.7 | (17.6) | 286.2 | |||||||||||
Net operating | 300.0 | (16.5) | 269.6 | Merchandising | 7.0 | ||||||||||
(three months ended June 30) | 34.3 | (11.8) | 22.5 | business | |||||||||||
income | +3.8 | 26.4 | Real estate | ||||||||||||
Personnel | Other | (Three months | 49.3 | (0.6) | 48.7 | (0.5) | business | 6.8 | |||||||
ended June | 48.2 | Third-party | |||||||||||||
expenses | expenses | 200.0 | |||||||||||||
(27.8) | +1.8 | 30, 2022) | 95.2 | 93.5 | financial product | ||||||||||
Net operating | 20.7 | ( 1.6) | (3.7) | 89.7 | agency services | 1.1 | |||||||||
income | Postal service | ||||||||||||||
commissions | |||||||||||||||
(Three months | Commissions | 100.0 | 51.6 | ( 2.9) | 48.6 | (13.6) | 34.9 | Banking commissions | |||||||
ended June | for business | Insurance commissions | |||||||||||||
30, 2021) | consignment | 73.3 | 72.7 | 70.2 | |||||||||||
( 0.6) | (2.5) | Funds to maintain post | |||||||||||||
11.3 | (17.9) | ||||||||||||||
0.0 | office network | ||||||||||||||
2020 | 2021 | 2022 (three months ended June 30) | |||||||||||||
Results of Operations for the Three Months Ended June 30, 2022 | |||||||||||||||
Funds to | Other operating | For the three | For the three | (Billions of yen) | |||||||||||
Year-on-year | |||||||||||||||
maintain post | income | ||||||||||||||
Operating | months ended | months ended | |||||||||||||
office network | +3.8 | +3.0 | change | ||||||||||||
(2.5) | outsourcing | June 30, 2022 | June 30, 2021 | ||||||||||||
expenses | |||||||||||||||
(0.8) | Operating income | 269.6 | 286.2 | (16.5) | |||||||||||
Depreciation | |||||||||||||||
and amotization |
Insurance | (13.6) | Operating expenses | 248.8 | 274.8 | (26.0) | |||||||||||
Revenue from new | + 4.1 | Salaries and | (21.8) | |||||||||||||
commissions | subsidiaries (note) | allowances, etc. | ||||||||||||||
Banking | Merchandising business | (0.1) | ||||||||||||||
(3.7) | Legal welfare | (3.6) | Personnel expenses | 180.5 | 208.4 | (27.8) | ||||||||||
commissions | ||||||||||||||||
Real estate business | (0.8) | expenses | ||||||||||||||
Postal service | (0.5) | |||||||||||||||
Other expenses | 68.2 | 66.4 | + 1.8 | |||||||||||||
commissions | ||||||||||||||||
Third-party financial | (0.8) | |||||||||||||||
product agency services | ||||||||||||||||
Net operating income | 20.7 | 11.3 | + 9.4 | |||||||||||||
Note: Revenue from new subsidiaries included in the scope of consolidation from the three months ended September 30, 2021. | ||||||||||||||||
Copyright © 2022 JAPAN POST GROUP. All Rights Reserved. 3 | ||||||||||||||||
Japan Post Co. (Consolidated) [International Logistics Business]:
Financial Results
- Operating income decreased by A$397 million year-on-year (a decrease of 18.5% year-on-year), due to the impact of a reduction in income associated with the transfer of the Global Express business in August 2021, despite a continuing increase in the Global Forwarding business due to greater cargo demand from the previous fiscal year.
- Operating expenses also decreased due to the reduction in expenses related to the Global Express business, but net operating income (EBIT) declined by A$33 million year-on-year (a decrease of 42.8% year-on-year).
Trends in Net Operating Income (Loss) (EBIT)
Total EBIT( | ) | (Millions of Australian dollars) | ||||
(116) | 77 | 44 | ||||
100 |
26 | 12 | ||
50 | |||
20 | |||
53 | |||
18 | 36 | ||
0 | Note 4 | ||
(5) | |||
(6) | (21) | ||
- (101)
(100)
(28) | |||
(150) | 2021 | 2022 | |
2020 | |||
(three months ended June 30) | |||
■ Global Logistics | ■ Global Forwarding | ■ Global Express ■ Corporate/Other |
Results of Operations for the Three Months
Ended June 30, 2022
(Millions of Australian dollars) [Billions of yen]
For the three | For the three | Year-on-year | ||
months ended | months ended | |||
change | ||||
June 30, 2022 | June 30, 2021 | |||
Operating income | 1,750 | 2,148 | (397) | |
(revenue) | [162.0] | [181.1] | [(19.0)] | |
Operating | 1,706 | 2,071 | (364) | |
expenses | [157.9] | [174.6] | [(16.6)] | |
Personnel | 401 | 597 | (196) | |
expenses | [37.1] | [50.3] | [(13.2)] | |
Other | 1,304 | 1,473 | (168) | |
expenses | [120.8] | [124.2] | [(3.4)] | |
44 | 77 | (33) | ||
Net operating | ||||
income (EBIT) | [4.0] | [6.5] | [(2.4)] |
Notes: 1. Operating income (revenue), operating expenses and net operating income (loss) (EBIT) are the total amount of Toll, JP Toll Logistics and Toll Express Japan, respectively.
- Figures for the fiscal year ended March 31, 2022 and 2021 in the above graph have been reclassified due to a partial reclassification of businesses between segments for each fiscal year (total amounts are unchanged).
- Figures in square brackets are presented in billions of yen (Average exchange rate for the three months ended June 30, 2022: ¥92.60 to A$1.00 and for the three months ended June 30, 2021: ¥84.32 to A$1.00).
- Depreciation and amortization that have been suspended based on IFRS are recorded in operating income (loss) (EBIT) for the Global Express business for the three months ended June 30, 2021 (the effect of this is offset through Corporate/Other).
Copyright © 2022 JAPAN POST GROUP. All Rights Reserved. 4
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Japan Post Holdings Co. Ltd. published this content on 10 August 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 August 2022 08:05:09 UTC.