Japan Post (6178) investor relations material

Executive summary

• Ordinary income for the fiscal year ended March 31, 2026 was ¥11,440.5 billion, down 0.2% year-over-year, while net ordinary income rose 32.0% to ¥1,074.9 billion and net income attributable to shareholders increased 1.1% to ¥374.5 billion.

• Comprehensive income surged to ¥1,792.2 billion from a loss of ¥433.0 billion in the prior year.

• All principal subsidiaries reported higher net income, with Japan Post Bank and Japan Post Insurance showing significant gains.

• Major business developments included the acquisition of Tonami Holdings, administrative actions affecting logistics operations, and ongoing digital transformation and operational reforms.

Financial highlights

• Net income per share was ¥129.14, up from ¥119.30 year-over-year.

• Net income: ¥374.5 billion, up 1.1% year-over-year.

• Net ordinary income: ¥1,074.9 billion, up 32.0% year-over-year.

• Consolidated assets decreased to ¥289,864.5 billion, while net assets increased to ¥16,481.9 billion.

• Cash and cash equivalents at year-end were ¥56,910.2 billion, down ¥10,289.1 billion from the prior year.

Outlook and guidance

• Net income for the fiscal year ending March 31, 2027 is forecast to rise to ¥380.0 billion, driven by higher banking segment profits despite expected declines in postal and logistics.

• Ordinary income is forecast at ¥11,360.0 billion, net ordinary income at ¥1,170.0 billion.

• Dividend per share is projected to rise to ¥60, with a payout ratio of 44.3% and share repurchases up to ¥150.0 billion planned.

• Segment forecasts anticipate higher banking profits due to rising interest rates, offset by lower postal/logistics profits from declining mail volume.