Japan Post Group has released its financial results for the first nine months of 2019 ending on December 31, 2019. Japan Post Holdings reported revenues (stated as ordinary income in the company’s statements) of ¥*9,054.5bn, a Y-o-Y decrease of 5.5%. The Group reported an operating profit (stated as net ordinary income) of ¥688.8bn, a year-on-year increase of 7.8%.
In Japan Post Company’s Postal and Domestic Logistics business, revenue (stated as operating income) totalled ¥1,601.6bn, a Y-o-Y increase of ¥12.4bn, or 0.8%. Operating Profit (stated as net operating income) was ¥119.3bn, a Y-o-Y increase of ¥32.3bn, or 37.3%. The increase was primarily due to a continuing increase in the volume of Yu-Packet handled and a rise in income from the parcel field resulting from the impact of the revision of price per unit.
Revenues (stated as operating income) in the International Logistics business, Toll Holdings Limited, totalled ¥486.4bn, a Y-o-Y decrease of ¥48.2bn, owing to a decrease in the volume of Global Forwarding and an overall slowing of the global economy, especially the Australian economy and tensions resulting from the US-China trade war. EBIT recorded a decrease of 12.4% to produce a loss of ¥5.9bn, this was primarily due to an increase in personnel expenses.
Source: Japan Source Group
*$= ¥109.875 / €= ¥119.169
