Japan Post Holdings has released its financial results for the fourth quarter ended June 30, 2018. Total ordinary income decreased 3.4% to ¥*3,159.1bn in the fourth quarter, compared with ¥3,271.1bn in the fourth quarter 2017. Net ordinary income decreased as well by 7.9% year-over-year to ¥210.1bn compared with ¥218bn. This was largely driven by the changes in the Japan Post Insurance subsidiary, where ordinary incomes decreased by 6.4%.
Fourth quarter ordinary income for the Japan Post Co. subsidiary totalled ¥950.1bn, an increase of 4.1% over the prior year, primarily driven by the increase in volumes of Yu-Pack handled by the Postal and Domestic Logistics segment. Net ordinary income increased 236.4% year-over-year to ¥25.1bn
In the Post Office segment, operating income totalled ¥331.6bn, a 1.2% increase from the same period 2017. Net operating income decreased 26.6% to ¥10.8bn.
The Post Co.’s Postal and Domestic Logistics Business segment managed to generate an operating income increase of 36.1% to ¥497.7bn. Segment’s growth was led by growing demands in Yu-Pack and Yu-Mail, where volumes increased by 24.6% year-over-year, respectively 1.84%. Net operating income was 21.3% higher than in Q4 2017.
In the International Logistics Business segment, the operating income totalled ¥169.0bn, a 4.9% increase from the same period 2017. EBIT increased 188.88% to ¥0.6bn, mainly due to a decrease in net operating loss in the Global Express business.
Source: Japan Post Group
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