Japan Post logs huge profit for 1st year
Japan Post has said that it logged a huge consolidated profit for its first year, which ended March 31.
Its group net profit came to 2,302 billion yen and recurring profit to 2,621.2 billion yen on operating revenue of 24,713.6 billion yen. By sector, the postal service generated a net profit of 27.6 billion yen.
Though revenue decreased from the previous year, when the government’s Postal Services Agency handled the country’s mail, postal savings and postal insurance businesses, cost-cutting effects led to the first black ink in two years.
The postal savings division generated a net profit of 2,274.4 billion yen, thanks to profits from investment in the stock market.
The postal insurance division raised its internal reserves, equivalent to profit, by 92.9 billion yen.
For the current year, Japan Post aims at a black ink of 20 billion yen and 950 billion yen in the mail service and postal savings divisions, respectively, and an increase of 12 billion yen in internal reserves in the postal insurance division.
