Japan Post : Overview of Consolidated Financial Results of Japan Post Co.

Overview of

Consolidated Financial Results

of Japan Post Co.

for the Fiscal Year Ended March 31, 2023

May 15, 2023

Copyright © 2023 JAPAN POST GROUP. All Rights Reserved.

Table of Contents

1.	Consolidated Balance Sheets	1
2.	Consolidated Statements of Income and Consolidated Statements of Comprehensive Income ..	3
	(1)	Consolidated Statements of Income	3
	(2)	Consolidated Statements of Comprehensive Income	4
3.	Segment Information	5

1. Consolidated Balance Sheets

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

	Assets
	Current assets
	Cash and deposits			2,116,337
	Notes receivable and operating	305,336
	accounts receivable
	Contract assets			8,471
	Securities	15,000
	Inventories			39,439
	Prepaid expenses	9,358
	Other accounts receivable			3,952
	Outstanding amount of banking	17,988
	business consignment
	Other current assets			30,413
	Reserve for possible loan losses	(1,064)
	Total current assets			2,545,232
	Non-current assets
	Tangible fixed assets
	Buildings	855,718
	Structures			30,410
	Machinery and equipment	79,436
	Vehicles			12,760
	Tools and fixtures	19,699
	Land			1,293,431
	Right-of-use assets	63,946
	Construction in progress			153,820
	Total tangible fixed assets	2,509,224
	Intangible assets
	Leasehold right	1,657
	Transferable development right			14,077
	Software	20,492
	Other intangible assets			11,765
	Total intangible assets	47,994
	Investments and other assets
	Investment securities	15,645
	Claims provable in bankruptcy			3,466
	Long-term prepaid expenses	7,913
	Asset for retirement benefits			1,513
	Other investments and other assets	53,444
	Reserve for possible loan losses			(3,467)
	Total investments and other assets	78,515
	Total non-current assets			2,635,734
	Total assets	5,180,966

1,761,329

275,721

8,587

15,000

56,190

9,416

15,508

13,803

26,083

(968)

2,180,672

844,235

29,640

75,624

15,946

19,100

1,291,080

63,622

219,015

2,558,265

1,652

14,077

17,515

38,914

72,161

17,820

3,456

7,215

1,353

53,468

(3,456)

79,858

2,710,285

4,890,957

1

(Millions of yen)

As of March 31, 2022

As of March 31, 2023

Liabilities

Current liabilities

Notes payable and operating accounts payable

Short-term borrowings

Current portion of long-term

borrowings

Other accounts payable

Outstanding amount of life insurance business consignment

Accrued expenses

Income taxes payable

Consumption taxes payable

Contract liabilities

Deposits received

Fund deposits for post offices

Reserve for bonuses

Reserve for losses on rebuilding of branches

Other current liabilities

Total current liabilities

Long-term liabilities

Lease obligations

Deferred tax liabilities

Reserve for losses on rebuilding of branches

Reserve for management board benefit trust

Liability for retirement benefits

Other long-term liabilities

Total long-term liabilities

Total liabilities

Net assets

Shareholders' equity

Capital stock

Capital surplus

Retained earnings

Total shareholders' equity

Accumulated other comprehensive income

Net unrealized gains (losses) on available-for-sale securities

Net deferred gains (losses) on hedges Foreign currency translation

adjustments Accumulated adjustments for

retirement benefits

108,621

160,569

163,642

248,664

1,583

44,193

24,180

20,400

45,475

221,994

860,000

113,800

-

56,001

2,069,126

103,241

10,990

197

227

1,995,085

91,942

2,201,686

4,270,812

400,000

141,930

327,640

869,571

28

(212)

(112,443)

133,987

104,667

144,506

-

260,969

1,149

64,687

4,052

18,785

51,243

205,542

840,000

105,985

197

50,644

1,852,431

99,381

9,488

-

153

1,988,082

90,064

2,187,169

4,039,601

400,000

141,930

296,534

838,465

143

33

(116,148)

107,911

	Total accumulated other comprehensive	21,360	(8,060)
	income (loss)
	Non-controlling interests			19,222	20,951
	Total net assets	910,154	851,356
	Total liabilities and net assets			5,180,966	4,890,957

2

2. Consolidated Statements of Income and Consolidated Statements of Comprehensive Income

1. Consolidated Statements of Income

	(Millions of yen)
Fiscal year ended	Fiscal year ended
March 31, 2022	March 31, 2023

Operating income

Postal service business income Commissions for banking business

consignment

Commissions for life insurance business consignment

Funds to maintain post office network International logistics business income Other operating income

2,021,945

354,374

190,263

290,991

687,268

112,076

1,980,703

340,055

134,846

280,818

599,182

115,925

Total operating income	3,656,920	3,451,530
Operating costs	3,277,014	3,134,220
Gross operating income	379,905	317,310
Sales, general and administrative costs	231,636	233,515
Net operating income	148,268	83,794

	Other income
	Interest income	319
	Equity in earnings of affiliates			1,234
	Foreign exchange gains	-
	Subsidy income			1,387
	Compensation for damage received	1,259
	Others			1,949
	Total other income	6,151
	Other expenses
	Interest expenses	8,425
	Provision for reserve for possible loan losses			1,299
	Others	1,149
	Total other expenses			10,874
Net ordinary income	143,545
	Extraordinary gains
	Gains on sales of fixed assets	8,882
	Gains on exchange of fixed assets			19
	Insurance claim income	4,383
	Others			3,423
	Total extraordinary gains	16,708
	Extraordinary losses
	Losses on sales of fixed assets	1,059
	Losses on disposal of fixed assets			2,113
	Losses on impairment of fixed assets	4,270
	Losses on sale of businesses			10,898
	Extra payments for early retirements	-
	Litigation expenses			-
	Others	6,207

726

1,194

2,681

1,664

193

3,303

9,763

12,872

54

1,153

14,080

79,477

11,470

2,975

735

1,162

16,344

231

2,486

1,032

-

1,843

969

2,323

	Total extraordinary losses		24,550	8,886
Income before income taxes	135,704	86,935
	Income taxes current		40,811	27,987
Income taxes deferred	2,580	(1,964)
	Total income taxes		43,392	26,023
Net income	92,312	60,911
	Net loss attributable to non-controlling interests		(905)	(1,199)
Net income attributable to Japan Post Co.	93,217	62,111

3