Japan Post Holdings reported ordinary income of ¥*6,379.6bn in the first half of FY18, representing a 2.7% year-over-year decrease. It made net ordinary income of ¥420.6bn, up 38.7%, and net income of ¥180.1bn, up 20.3%.
These overall results were negatively affected by the results of the parcels and logistics company, Japan Post. Although it improved operating income by 2.5% (¥1,834.7bn), it made a net ordinary loss of ¥12.8. This does, however, represent an improvement of ¥14.7bn. It made produced a net loss of ¥17.1bn, but again, this represented an improvement against H1 of FY17.
Japan Post is continuing to show positive momentum in Yu-Pack and Yu-Mail (volumes up 26.2% and 1.3%) respectively. However, operating expenses related to these products increased too. Rising wages, depreciation and amortization also ensured another operating lost for the business.
Operating income from Toll was up 11.0% to ¥342.5bn. Its operating income declined by nearly a half to ¥33bn. However, when looking from a quarter-by-quarter basis, it appears that its net losses bottomed out in Q4 of FY17, and Toll actually produced net operating income of ¥42bn. Global express was profitable for the first time since the takeover, and the only loss making segment was Corporate.
Source: Japan Post
* ¥ 126.2= €/ ¥ 111.0=$
