Japan Post results announced

Japan Post Holdings has reported results for the nine-month period ended December 31, 2018.

Turnover in that period fell 1.6% year-on-year to ¥9,582.9 billion. This was partly due to the Japan Post Insurance subsidiary, where turnover decreased by 1.4% to ¥214 billion.

Turnover for the Japan Post Co. subsidiary was ¥3,003.6 billion, an increase of 2.5% year-on-year. Turnover increased of 2.5% year-on-year to ¥2,998.6 billion, due to a continuous favourable performance in the postal and domestic logistics business.

The Postal and Domestic Logistics segment reported turnover of ¥1,589.2 billion, year-on-year growth of 5.2%, driven by the expansion trend in parcels and an increase in volume of Yu-Pack handled, which grew by 10.8% year-on-year. Net operating income increased by 200.7% year-on-year to ¥86.9 billion due the growth in turnover exceeding the increase in expenses.

The turnover of the Post Office segment remained almost the same with only an increase of ¥2.3bn to ¥1,038.9 billion. Net operating income increased by 20.5% to ¥47.7 billion year-on-year.

The International Logistics Business segment saw a growth in turnover of 0.2% year-on-year to ¥534.7 billion. Net operating income decreased by 24.4% year-on-year to ¥6.5 billion, due to an increase in operating expenses including temporary factors.