Japan Post Holdings has overturned its net loss from the prior year. The group’s net income was ¥460.6bn, up from its loss of ¥29.0bn in the year before. Its net ordinary income of ¥916bn was up 15.2% and its ordinary income of ¥12,920bn was 3.0% lower than in 2017.
In the Postal and Domestic Logistics business, operating income of ¥2,022.5bn was ¥92.5bn higher than in the previous year. Yu-Pack and Yu-Packet volumes increased 25.6%. Its net operating income of ¥41.9bn was up from ¥12.0bn in FY17.
Revenues from its International Logistics segment (Toll) grew 9.3% to ¥704.3bn. Its EBIT of ¥10.2bn was up from ¥5.6bn in the prior year. However, it is still less than half its 2016 value. Its global logistics segment is the only segment showing profitability, but the global forwarding and global express segments are beginning to stronger signs after a dour 2017.
Source: Japan Post
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