Japan Post : Overview of Consolidated Financial Results of Japan Post Co. for the Three Months Ended June 30, 2023

Overview of

Consolidated Financial Results

of Japan Post Co.

for the Three Months Ended June 30, 2023

August 10, 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, 2023

As of June 30, 2023

	Assets
	Current assets
	Cash and deposits			1,761,329
	Notes receivable, operating accounts	284,308
	receivable and contract assets
	Securities			15,000
	Inventories	56,190
	Outstanding amount of banking
			13,803
	business consignment
	Other current assets	51,169
	Reserve for possible loan losses			(968)
	Total current assets	2,180,833
	Non-current assets
	Tangible fixed assets
	Buildings			844,242
	Land	1,291,080
	Right-of-use assets			48,380
	Other tangible fixed assets	359,327
	Total tangible fixed assets			2,543,030
	Intangible assets	72,161
	Investments and other assets
	Other investments and other assets	80,455
	Reserve for possible loan losses			(3,456)
	Total investments and other assets	76,998
	Total non-current assets			2,692,190
	Total assets	4,873,023

1,438,366

302,600

15,000

57,573

32,581

78,219

(927)

1,923,412

908,489

1,356,930

53,639

207,284

2,526,343

79,512

81,230

(3,318)

77,912

2,683,767

4,607,180

1

(Millions of yen)

As of March 31, 2023

As of June 30, 2023

Liabilities

Current liabilities

Notes payable and operating accounts payable

Short-term borrowings Other accounts payable Outstanding amount of life insurance

business consignment Income taxes payable 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 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

104,703

144,506

260,965

1,149

4,127

205,542

840,000

105,985

197

182,059

1,849,237

86,598

9,488

153

1,988,082

90,194

2,174,517

4,023,754

400,000

141,930

294,446

836,377

143

33

(116,148)

107,911

104,205

150,671

167,218

1,137

7,191

197,497

810,000

33,028

197

169,764

1,640,913

90,510

10,351

135

1,986,599

86,922

2,174,520

3,815,433

400,000

141,930

241,727

783,658

273

-

(115,617)

102,435

	Total accumulated other comprehensive			(8,060)		(12,907)
	loss
	Non-controlling interests	20,951	20,995
	Total net assets			849,268		791,746
Total liabilities and net assets	4,873,023	4,607,180

2

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

1. Consolidated Statements of Income Three months ended June 30

	(Millions of yen)
Three months ended	Three months ended
June 30, 2022	June 30, 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

485,821

89,797

34,967

70,204

147,073

25,690

479,428

84,604

31,956

75,014

103,445

26,979

Total operating income	853,555	801,430
Operating costs	769,642	738,420
Gross operating income	83,913	63,009
Sales, general and administrative costs	57,161	53,395
Net operating income	26,751	9,614

	Other income
	Interest income	116
	Dividend income			114
	Equity in earnings of affiliates	493
	Foreign exchange gains			1,116
	Others	945
	Total other income			2,786
Other expenses
	Interest expenses			1,986
	Equity in losses of affiliates	-
	Others			167
	Total other expenses	2,154
	Net ordinary income			27,383
Extraordinary gains
	Gains on sales of fixed assets			5,457
	Compensation for transfer	72
	Insurance claim income			-
	Others	-
	Total extraordinary gains			5,529
Extraordinary losses
	Losses on sales of fixed assets			50
	Losses on disposal of fixed assets	141
	Losses on impairment of fixed assets			29
	Losses on business restructuring	-
	Others			23

297

6

-

349

858

1,512

2,390

80

249

2,720

8,406

471

1,191

2,093

456

4,212

156

408

-

203

20

	Total extraordinary losses	245	789
	Income before income taxes		32,668	11,830
Income taxes current	2,852	1,949
	Income taxes deferred		190	768
Total income taxes	3,042	2,717
	Net income		29,625	9,112
Net loss attributable to non-controlling interests	(129)	(279)

Net income attributable to Japan Post Co.

29,754

9,392

3