Japan Post Holdings has reported results for the nine-month period ended December 31, 2018. Turnover in that period fell 1.6% year-on-year to ¥*9,582.9bn. This was partly due to the Japan Post Insurance subsidiary, where turnover decreased by 1.4% to ¥214bn.
Turnover for the Japan Post Co. subsidiary was ¥3,003.6bn, an increase of 2.5% year-on-year. Turnover increased of 2.5% year-on-year to ¥2,998.6bn due to a continuous favourable performance in the postal and domestic logistics business.
The Postal and Domestic Logistics segment reported turnover of ¥1,589.2bn, year-on-year growth of 5.2%, driven by the expansion trend in parcels and an increase in volume of Yu-Pack handled, which grew by 10.8% year-on-year. Net operating income increased by 200.7% year-on-year to ¥86.9bn due the growth in turnover exceeding the increase in expenses.
The turnover of the Post Office segment remained almost the same with only an increase of ¥2.3bn to ¥1,038.9bn. Net operating income increased by 20.5% to ¥47.7bn year-on-year.
The International Logistics Business segment saw a growth in turnover of 0.2% year-on-year to ¥534.7bn. Net operating income decreased by 24.4% year-on-year to ¥6.5bn, due to an increase in operating expenses including temporary factors.
Source: Japan Post Group
*$= ¥113.2 /€=¥127.2