Japan Post (6178) Q1 2025 earnings summary

Executive summary

• Net income attributable to Japan Post Holdings rose to ¥74.7 billion, reversing a prior-year loss, driven by improved results across several segments and the absence of prior-year securities valuation losses.

• Ordinary income for Q1 FY2025 was ¥2,735.8 billion, down 3.9% year-over-year, while net ordinary income increased 22.2% to ¥211.4 billion.

• Comprehensive income was negative ¥127.2 billion, compared to ¥760.4 billion in the prior year.

• Segment results were mixed, with banking and real estate showing strong gains, while postal and domestic logistics posted a larger loss.

Financial highlights

• Net income per share was ¥23.36, compared to a loss per share of ¥2.47 a year ago.

• Total assets increased to ¥304.7 trillion as of June 30, 2024.

• Net assets decreased to ¥15.4 trillion as of June 30, 2024.

• Equity ratio declined slightly to 3.3% from 3.4%.

• Net income attributable to non-controlling interests: ¥125.8 billion (up ¥91.4 billion year-over-year).

Outlook and guidance

• First-quarter net income achievement rates for full-year forecasts: 26.7% for Japan Post Holdings, 26.5% for Japan Post Bank, and 26.3% for Japan Post Insurance.

• FY2025 forecast: ordinary income ¥11,280 billion, net ordinary income ¥760 billion, net income attributable to parent ¥280 billion, EPS ¥88.13.

• Annual dividend forecast maintained at ¥50.00 per share.

• The company cautions that actual results may vary due to economic, regulatory, and competitive factors.