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    6178   JP3752900005

JAPAN POST HOLDINGS CO., LTD.

(6178)
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Japan Post : Summary of Consolidated Financial Results for the Three Months Ended June 30, 2021

08/11/2021 | 08:07am EDT

Summary of Consolidated Financial Results for the Three Months Ended June 30, 2021

August 11, 2021

Company name:

Japan Post Holdings Co., Ltd.

Stock exchange listing:

Tokyo Stock Exchange

Code number:

6178

URL:

https://www.japanpost.jp/en/

Representative:

MASUDA Hiroya, Director and Representative Executive Officer, President & CEO

Contact:

SEKI Yoshiyuki, Head of IR Office

Phone:

+81-3-3477-0206

Scheduled date of filing interim securities report:

August 11, 2021

Scheduled date of commencing dividend payments:

-

Trading accounts:

Unestablished

Availability of supplementary briefing material on interim financial results:

Available

Schedule of interim financial results briefing session: Scheduled (for institutional investors and analysts)

(Amounts of less than one million yen are rounded down.)

1. Consolidated Financial Results for the Three Months Ended June 30, 2021

(April 1, 2021 to June 30, 2021)

(1) Consolidated Results of Operations

(% indicates changes from the previous corresponding period.)

Ordinary income

Net ordinary income

Net income attributable to

Japan Post Holdings

Million yen

%

Million yen

%

Million yen

%

Three months ended

2,864,073

2.5

288,495

116.5

159,736

102.7

June 30, 2021

Three months ended

2,793,065

(6.4)

133,229

(34.1)

78,788

(41.7)

June 30, 2020

(Note) Comprehensive income:Three months ended June 30, 2021: ¥407,409 million [(81.3)%]

Three months ended June 30, 2020: ¥2,182,053 million [566.6%]

Net income per share

Diluted net income per share

Yen

Yen

Three months ended

39.99

-

June 30, 2021

Three months ended

19.49

-

June 30, 2020

(Note) Because there was no potential common stock, the amount for diluted net income per share is omitted.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio (Note)

Million yen

Million yen

%

As of June 30, 2021

299,835,049

15,986,503

4.5

As of March 31, 2021

297,738,131

16,071,067

4.6

(Reference) Equity: As of June 30, 2021:

¥13,422,252 million

As of March 31, 2021: ¥13,794,361 million

(Note) Equity ratio = [(Net assets - Non-controlling interests) / Total assets] x 100

2. Dividends

Annual dividend

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

Yen

Yen

Yen

Yen

Yen

Fiscal year ended March 31, 2021

-

0.00

-

50.00

50.00

Fiscal year ending March 31, 2022

-

Fiscal year ending March 31, 2022

0.00

-

50.00

50.00

(Forecast)

(Note) Revision of dividends forecast to the latest announcement: None

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2022 (April 1, 2021 to March 31, 2022)

(% indicates changes from the previous corresponding period.)

Ordinary income

Net ordinary income

Net income attributable

Net income per share

to Japan Post Holdings

Fiscal year ending

Million yen

%

Million yen

%

Million yen

%

Yen

10,600,000

(9.6)

730,000

(20.1)

340,000

(18.7)

88.91

March 31, 2022

(Note) Revision of financial results forecast to the latest announcement: None

* Notes:

  1. Changes in significant subsidiaries during the fiscal period under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
  2. Adoption of accounting method specific to preparation of interim consolidated financial statements: No
  3. Changes in accounting policies, changes in accounting estimates and retrospective restatement
    1. Changes in accounting policies due to the revision of accounting standards: Yes
    2. Changes in accounting policies other than 1) above: No
    3. Changes in accounting estimates: No
    4. Retrospective restatement: No

(Note) Please refer to 2. Interim Consolidated Financial Statements and Primary Notes (3) Notes to Interim Consolidated Financial Statements (Changes in Accounting Policies) on page 7 of the Attachment for details.

  1. Total number of shares issued (common stock)
    1. Total number of shares issued at the end of the fiscal period (including treasury stock): As of June 30, 2021: 3,767,870,229 shares
      As of March 31, 2021: 4,500,000,000 shares
    2. Total number of treasury stock at the end of the fiscal period:

As of June 30, 2021:

564,800 shares

As of March 31, 2021: 456,635,301 shares

3) Average number of shares during the fiscal period:

Three months ended June 30, 2021:

3,994,844,988 shares

Three months ended June 30, 2020:

4,043,339,598 shares

(Note) The total number of treasury stock at the end of the fiscal period includes the shares of the Company held by the management board benefit trust of 464,800 shares and 496,100 shares as of June 30, 2021 and March 31, 2021, respectively. The number of treasury stock excluded from calculation of the average number of shares during the fiscal period includes the shares of the Company held by the management board benefit trust of 472,367 shares and 521,201 shares for the three months ended June 30, 2021 and 2020, respectively.

  • This summary of interim consolidated financial results is outside the scope of interim audit procedures by Certified Public Accountants or Audit Firm.
  • Explanation on appropriate use of financial results forecast and other specific matters

Forecasts and other forward-looking statements presented in this document are based on information that the Company is aware of as of June 30, 2021 and certain assumptions that the Company has deemed reasonable, and the Company provides no assurance that the forecasts will be achieved or with respect to any other forward- looking statements. The actual future results may vary considerably depending upon various factors, such as the impact of the spread of COVID-19, interest rate fluctuations, stock price fluctuations, foreign exchange fluctuations, asset value fluctuations, changes in the economic and financial environment, changes in the competitive environment, the occurrence of large-scale disasters, etc. and changes in laws and regulations. The Company disclaims any responsibility to update any forward-looking statements contained herein to the extent permitted by law or stock exchange rule.

Japan Post Holdings Co., Ltd

[Attachment]

Table of Contents

1.

Qualitative Information on Interim Consolidated Financial Results for the Fiscal Period under Review..............

2

(1)

Explanation of Results of Operations................................................................................................................

2

(2)

Explanation of Financial Position .....................................................................................................................

2

(3)

Explanation of Consolidated Financial Results Forecast and Other Future Projections ...................................

2

2.

Interim Consolidated Financial Statements and Primary Notes .............................................................................

3

(1)

Interim Consolidated Balance Sheets................................................................................................................

3

  1. Interim Consolidated Statements of Income and Interim Consolidated Statements of Comprehensive Income
    ........................................................................................................................................................................... 5

(3) Notes to Interim Consolidated Financial Statements ........................................................................................

7

(Notes on Going-Concern Assumption)..............................................................................................................

7

(Notes to Significant Changes in Shareholders' Equity).....................................................................................

7

(Changes in Accounting Policies).......................................................................................................................

7

(Additional Information).....................................................................................................................................

8

(Segment Information)........................................................................................................................................

9

Supplementary Briefing Material:

Materials for Consolidated Financial Results for the Three Months Ended June 30, 2021

1

Japan Post Holdings Co., Ltd

1. Qualitative Information on Interim Consolidated Financial Results for the Fiscal Period under Review

(1) Explanation of Results of Operations

Consolidated ordinary income for the three months ended June 30, 2021 amounted to ¥2,864,073 million (up ¥71,007 million year-on-year), of which the postal and domestic logistics business segment accounted for ¥489,113 million (down ¥1,788 million year-on-year); the post office business segment accounted for ¥287,253 million (down ¥17,046 million year-on-year); the international logistics business segment accounted for ¥181,168 million (down ¥4,490 million year-on-year); the banking business segment accounted for ¥505,595 million (up ¥117,997 million year-on-year); and the life insurance business segment accounted for ¥1,665,111 million (down ¥31,279 million year-on-year).

Consolidated net ordinary income amounted to ¥288,495 million (up ¥155,265 million year-on-year) as a result of net ordinary income of ¥20,734 million in the postal and domestic logistics business segment (up ¥4,931 million year-on-year); net ordinary income of ¥11,191 million in the post office business segment (down ¥3,692 million year-on-year); net ordinary income of ¥3,953 million in the international logistics business segment (net ordinary loss of ¥10,940 million for the same period of the previous fiscal year); net ordinary income of ¥162,680 million in the banking business segment (up ¥120,630 million year-on-year); and net ordinary income of ¥92,077 million in the life insurance business segment (up ¥22,120 million year-on-year).

As a result of the above, net income attributable to Japan Post Holdings amounted to ¥159,736 million (up ¥80,947 million year-on-year), which comprises consolidated net ordinary income after adjusting for extraordinary gains (losses), provision for reserve for policyholder dividends, income taxes and net income attributable to non-controlling interests.

  1. Explanation of Financial Position
    1. Assets

Consolidated total assets were ¥299,835,049 million, up ¥2,096,918 million from the end of the previous fiscal year.

Major factors include an increase in securities of ¥2,878,098 million and an increase in receivables under resale agreements of ¥2,170,408 million, as well as a decrease in receivables under securities borrowing transactions of ¥2,563,464 million.

2) Liabilities

Consolidated total liabilities were ¥283,848,546 million, up ¥2,181,482 million from the end of the previous fiscal year.

Major factors include an increase in payables under repurchase agreements of ¥2,591,966 million and an increase in deposits of ¥2,375,353 million, as well as a decrease in payables under securities lending transactions of ¥2,322,294 million and a decrease in policy reserves of ¥736,158 million.

3) Net Assets

Consolidated total net assets were ¥15,986,503 million, down ¥84,563 million from the end of the previous fiscal year.

Major factors include an increase in retained earnings of ¥1,421,890 million, an increase of treasury stock of ¥830,885 million due to the cancellation, etc., and an increase in non-controlling interests of ¥287,545 million, as well as a decrease in capital surplus of ¥2,626,453 million.

(3) Explanation of Consolidated Financial Results Forecast and Other Future Projections

The consolidated financial results forecast for the fiscal year ending March 31, 2022 remains unchanged from the full year forecast announced on May 14, 2021.

2

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.


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Net Debt 2022 - - -
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Yield 2022 5,63%
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Technical analysis trends JAPAN POST HOLDINGS CO., LTD.
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Income Statement Evolution
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Mean consensus HOLD
Number of Analysts 6
Last Close Price 888,80 JPY
Average target price 1 000,00 JPY
Spread / Average Target 12,5%
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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