Japan Post (6178) Q2 2026 earnings summary

Executive summary

• Ordinary income for the six months ended September 30, 2025, rose to ¥5,682.4 billion, up 3.1% year-over-year; net ordinary income increased by 12.6% to ¥521.6 billion; net income attributable to shareholders was ¥142.5 billion, up 2.2%.

• Comprehensive income surged to ¥1,079.1 billion from a loss in the prior year period.

• Segment results were mixed: Japan Post Co. posted a net loss of ¥9.2 billion, while Japan Post Bank and Japan Post Insurance reported net incomes of ¥240.3 billion and ¥93.8 billion, respectively.

• Major business combination: acquisition of Tonami Holdings Co., Ltd., and inclusion of 33 new companies in consolidation.

Financial highlights

• Consolidated ordinary income for the six months ended September 30, 2025, was ¥5,682.4 billion, a 3.1% increase year-over-year.

• Net ordinary income reached ¥521.6 billion, up 12.6% year-over-year; net income attributable to the holding company was ¥142.5 billion, a 2.2% increase.

• Net income per share was ¥48.03, up from ¥44.00 a year earlier.

• Net income including non-controlling interests was ¥326.5 billion, up 24.4% year-over-year.

• Total assets as of September 30, 2025, were ¥296,289.3 billion; total net assets were ¥15,984.7 billion.

Outlook and guidance

• Full-year forecast for net ordinary income revised down to ¥960.0 billion (from ¥1,020.0 billion); net income forecast lowered to ¥320.0 billion (from ¥380.0 billion) due to slower parcel revenue growth and administrative issues.

• Life insurance segment forecast raised, with net income expected to increase by ¥23.0 billion.

• Net income per share forecasted at ¥109.65.

• Interim dividend set at ¥25 per share, with full-year dividend forecast unchanged at ¥50 per share.