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    6178   JP3752900005

JAPAN POST HOLDINGS CO., LTD.

(6178)
  Report
End-of-day quote. End-of-day quote Japan Exchange - 10/22
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Japan Post : Financial Highlights for the Three Months Ended June 30, 2021

08/11/2021 | 08:07am EDT

Financial Highlights

for the Three Months Ended June 30, 2021

August 11, 2021

Japan Post Holdings: Financial Highlights

Results of Operations for the Three Months Ended June 30, 2021

(Billions of yen)

Japan Post Holdings

Japan Post Co.

Japan Post Bank

Japan Post Insurance

(Consolidated)

(Consolidated)

(Consolidated)

(Consolidated)

Ordinary income

2,864.0

903.9

505.6

1,665.1

Year-on-year

+ 71.0

(23.9)

+ 117.9

(31.2)

(for the three months ended

June 30, 2020)

+ 2.5%

(2.6)%

+ 30.4%

(1.8)%

Change

Net ordinary income

288.4

34.5

162.6

92.0

Year-on-year

+ 155.2

+ 15.3

+ 120.6

+ 22.1

(for the three months ended

June 30, 2020)

+ 116.5%

+ 79.9%

+ 286.8%

+ 31.6%

Change

Net income

159.7

32.6

120.8

41.2

Year-on-year

+ 80.9

+ 15.9

+ 87.5

(5.5)

(for the three months ended

June 30, 2020)

+ 102.7%

+ 95.8%

+ 263.6%

(11.8)%

Change

  • Forecast for the Fiscal Year Ending March 31, 2022

Net ordinary income

730.0

75.0

355.0

290.0

[percentage achievement]

[39.5%]

[46.1%]

[45.8%]

[31.8%]

Net income

340.0

20.0

260.0

118.0

[percentage achievement]

[47.0%]

[163.4%]

[46.4%]

[34.9%]

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 © 2021 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 0.7% in total year-on-year, as the decline in mail due to the impact of the spread of COVID-19 largely abated, etc. On the other hand, Yu-Pack(note) decreased by 13.8% year-on-year(Yu-Packet decreased by 22.7%), due mainly to the effect of increased stay-at-home consumption in the same period previous fiscal year.
  • Operating income decreased by ¥1.6 billion year-on-year (a decrease of 0.3% year-on-year) due mainly to a decrease in income from parcels due to a decline in Yu-Pack(note) volumes, despite a recovery in income from international mails, etc.
  • Net operating income increased by ¥4.9 billion year-on-year (an increase of 31.9% year-on-year), partly as a result of the decrease in operating expenses mainly owing to cost control initiatives.

Analysis of Year-on-year Change in Net Operating Income

Trends in Net Operating Income

(Billions of yen)

2019

2020

2021

21.5

15.4

20.3

Other expenses (2.0)

(three months ended June 30)

Net operating

Collection,

income

transport

(Three months

Net operating

and delivery

Miscellaneous

ended June 30,

income

Personnel

outsourcing

expenses

2021)

(Three months

Decrease in

expenses

expenses

(7.0)

20.3

ended June 30,

operating

(4.5)

+4.9

2020)

income

15.4

(1.6)

.

Salaries and

(3.0)

allowances, etc.

Legal welfare

(0.9)

expenses

Trends in Volume of Items Handled

4,883

(Volume of items handled in millions)

5,000

( 6.2 %)

4,582

227

( 0.7 %)

4,549

26.4 %

Yu-Pack(note)

286

( 13.8 %)

247

857

4,000

( 9.0 %)

781

2.6 %

801

Yu-Mail

3,000

3,799

(7.5 %)

3,515

( 0.4 %)

3,501

Mail

0

2019

2020

2021

(three months ended June 30)

Results of Operations for the Three Months Ended June 30, 2021

For the three

(Billions of yen)

For the three

Year-on-year

months ended

months ended

change

June 30, 2021

June 30, 2020

Parcels

(8.9)

(Yu-Pack(note) and Yu-Mail)

Sales revenue of

(4.0)

Postage Stamps and Postcards

Standard mail

(2.3)

International mail remuneration

7.6

(terminal dues, etc.)

International mails

6.8

Postal service

(3.3)

commissions

Depreciation

(2.7)

and amortization

International mails

4.2

delivery expenses

Domestic collection,

transport and delivery 0.7 outsourcing expenses

Operating income

488.5

490.1

(1.6)

Operating expenses

468.1

474.7

(6.5)

Personnel expenses

300.6

305.1

(4.5)

Other expenses

167.5

169.6

(2.0)

Note: Yu-Pack includes Yu-Packet.

Net operating income

20.3

15.4

+ 4.9

Copyright © 2021 JAPAN POST GROUP. All Rights Reserved. 2

Japan Post Co. (Consolidated) [Post Office Business]:

Financial Results

  • Operating income decreased by ¥17.6 billion year-on-year (a decrease of 5.8% year-on-year), resulting from a decrease in income from the merchandising business due to the impact of the application of a new Accounting Standard for Revenue Recognition (note), as well as a continuing decrease in insurance commissions and banking commissions.
  • Net operating income decreased by ¥3.3 billion year-on-year (a decrease of 22.9% year-on-year), although operating expenses also decreased primarily as a result of a decrease in other expenses in the merchandising business due to the impact of the application of a new Accounting Standard for Revenue Recognition (note).

Analysis of Year-on-year Change in Net Operating Income

Trends in Net Operating Income

(Billions of yen)

2019

2020

2021

21.8

14.7

11.3

Net operating

(three months ended June 30)

income

Net operating

(Three months

Commissions

income

ended June 30,

for business

(Three months

2020)

consignment

Funds to

Other

ended June 30,

14.7

(5.2)

expenses

2021)

maintain post

Other operating

office network

(13.1)

11.3

income

(0.6)

(11.8)

Personnel

expenses

(1.2)

Insurance

(2.9)

Merchandising

(11.6)

commissions

business (note)

Merchandising

(12.1)

Banking

(1.6)

Third-party

business (note)

commissions

financial product

(0.8)

agency services

Postal service

(0.6)

Legal welfare

Real estate

+ 0.4

(1.1)

commissions

expenses

business

Note: Pursuant to the application of Accounting Standard for Revenue Recognition, some Merchandising, etc. correspond to transactions undertaken as an agent, and the amount of income recognized for these transactions has changed from a gross amount to a net amount (resulting in a reduction of ¥11.7 billion). As purchase cost (other expenses) has been reduced by the same amount, the change has no effect on profit or loss.

Trends in the Earnings Structure

400.0

334.9

( 31.0)

303.9

(Billions of yen)

Other operating income

41.7

(17.6)

286.2

300.0

( 7.4)

34.3

Of which:

47.3

(11.8)

22.5

Real estate

7.7

1.9

49.3

business

(0.6)

48.7

Merchandising

200.0

97.7

business (note)

7.2

( 2.5)

Third-party

95.2

(1.6)

93.5

financial product

agency services

2.0

74.2

Postal service

100.0

( 22.6)

51.6

(2.9)

48.6

commissions

Banking commissions

73.8

( 0.4)

73.3

(0.6)

72.7

Insurance commissions

Funds to maintain post

0.0

office network

2019

2020

2021

(three months ended June 30)

Results of Operations for the Three Months Ended June 30, 2021

(Billions of yen)

For the three

For the three

Year-on-year

months ended

months ended

change

June 30, 2021

June 30, 2020

Operating income

286.2

303.9

(17.6)

Operating expenses

274.8

289.1

(14.3)

Personnel expenses

208.4

209.6

(1.2)

Other expenses

66.4

79.5

(13.1)

Net operating income

11.3

14.7

(3.3)

Copyright © 2021 JAPAN POST GROUP. All Rights Reserved.

3

Japan Post Co. (Consolidated) [International Logistics Business]:

Financial Results

  • Operating income decreased by A$478 million year-on-year (a decrease of 18.2% year-on-year) overall, due mainly to a decrease in large-scale handling of COVID-19 prevention supplies by the Global Logistics Asia division, despite an increase in the Global Forwarding business, mainly as a result of an increase in cargo due to greater global demand, and an increase in the Global Express business, mainly as a result of the recovery from a temporary decline in transactions due to targeted cyber attacks in the previous fiscal year.
  • Operating expenses also decreased, by A$672 million year-on-year (a decrease of 24.5% year-on-year), due mainly to the decrease in large-scale handling by the Global Logistics Asia division, resulting in a return to profit, with a year-on-year increase in net operating income (EBIT) of A$193 million.

Results of Operations for the Three Months

Trends in Net Operating Income (Loss) (EBIT)

Ended June 30, 2021

90

30

(30)

(90)

(150)

Total EBIT(

)

(Millions of Australian dollars)

(Millions of Australian dollars)

(24)

(116)

77

[Billions of yen]

For the three

For the three

Year-on-year

months ended

months ended

26

change

June 30, 2021

June 30, 2020

20

Operating income

2,148

2,627

(478)

36

17

19

Note 4

(revenue)

[181.1]

[185.6]

[(4.4)]

(4)

(5)

(6)

Operating

2,071

2,743

(672)

(23)

(14)

(101)

expenses

[174.6]

[193.8]

[(19.1)]

Personnel

597

656

(59)

expenses

[50.3]

[46.3]

[+ 3.9]

(28)

Other

1,473

2,086

(613)

expenses

[124.2]

[147.4]

[(23.1)]

2019

2020

2021

Net operating

77

(116)

+ 193

(three months ended June 30)

income (loss)

[6.5]

[(8.2)]

[+ 14.7]

Global Logistics

Global Forwarding

(EBIT

Global Express

Corporate/Other

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.

  1. Figures for the fiscal year ended March 31, 2021 and 2020 in the above graph have been reclassified due to a partial reclassification of businesses between segments for each fiscal year (total amounts are unchanged).
  2. Figures in square brackets are presented in billions of yen (Average exchange rate for the three months ended June 30, 2021: ¥84.32 to A$1.00 and for the three months ended June 30, 2020: ¥70.65 to A$1.00).
  3. 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 © 2021 JAPAN POST GROUP. All Rights Reserved. 4

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

Japan Post Holdings Co. Ltd. published this content on 11 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2021 08:15:05 UTC.


© Publicnow 2021
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Sales 2022 11 163 B 98 346 M 98 346 M
Net income 2022 406 B 3 575 M 3 575 M
Net Debt 2022 - - -
P/E ratio 2022 8,30x
Yield 2022 5,47%
Capitalization 3 303 B 29 048 M 29 101 M
Capi. / Sales 2022 0,30x
Capi. / Sales 2023 0,30x
Nbr of Employees 243 612
Free-Float 37,3%
Chart JAPAN POST HOLDINGS CO., LTD.
Duration : Period :
Japan Post Holdings Co., Ltd. Technical Analysis Chart | 6178 | JP3752900005 | MarketScreener
Technical analysis trends JAPAN POST HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 6
Last Close Price 876,80 JPY
Average target price 1 000,00 JPY
Spread / Average Target 14,1%
EPS Revisions
Managers and Directors
Hiroya Masuda President & Chief Executive Officer
Akio Mimura Independent Outside Director
Tadashi Yagi Independent Outside Director
Kunio Ishihara Independent Outside Director
Charles Ditmars Lake Independent Outside Director