Japan Post : Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

Japan Post Holdings Co., Ltd.

Summary of Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

			May 15, 2023
Company name:	Japan Post Holdings Co., Ltd.	Stock exchange listing:	Tokyo Stock Exchange
Code number:	6178	URL:	https://www.japanpost.jp/en/
Representative:	MASUDA Hiroya, Director and Representative Executive Officer, President & CEO
Contact:	ISHIKAWA Takanori, Head of IR Office, Corporate Planning Dept.
Phone:	[phone]

Scheduled date of Annual General Meeting of Shareholders:	June 21, 2023
Scheduled date of filing securities report:	June 22, 2023
Scheduled date of commencing dividend payments:	June 22, 2023

Trading accounts:	Unestablished
Availability of supplementary briefing material on financial results:	Available
Schedule of financial results briefing session:	Scheduled (for institutional investors and analysts)
								(Amounts of less than one million yen are rounded down.)
1. Consolidated Financial Results for the Fiscal Year Ended March 31, 2023
	(April 1, 2022 to March 31, 2023)
(1) Consolidated Results of Operations			(% indicates changes from the previous corresponding period.)
			Ordinary income		Net ordinary income		Net income attributable to
					Japan Post Holdings
			Million yen			%		Million yen		%			Million yen	%
	Fiscal year ended		11,138,580				(1.1)		657,499	(33.7)			431,066	(14.1)
	March 31, 2023
	Fiscal year ended		11,264,774				(3.9)		991,464		8.5			501,685	20.0
	March 31, 2022
(Note) Comprehensive income: Fiscal year ended March 31, 2023: ¥(305,224) million [- %]
			Fiscal year ended March 31, 2022: ¥(805,187) million [- %]
			Net income per			Diluted net			Net ordinary			Net ordinary
					Return on equity	income to total		income to
			share		income per share
							assets			ordinary income
			Yen					Yen		%			%		%
	Fiscal year ended		120.82				-	3.9		0.2				5.9
	March 31, 2023
	Fiscal year ended		131.93				-	3.8		0.3				8.8
	March 31, 2022

(Reference) Equity in earnings (losses) of affiliates:Fiscal year ended March 31, 2023: ¥1,387 million Fiscal year ended March 31, 2022: ¥1,527 million

(Note) Because there was no potential common stock, the amount for diluted net income per share is omitted.

Japan Post Holdings Co., Ltd.

(2) Consolidated Financial Position

Total assets

Net assets

Equity ratio (Note)

Net assets per share

Million yen

Million yen

%

Yen

As of March 31, 2023

296,111,587

15,098,256

3.4

2,912.76

As of March 31, 2022

303,846,980

14,688,981

4.1

3,361.06

(Reference) Equity: As of March 31, 2023: ¥10,077,594 million

As of March 31, 2022: ¥12,309,391 million

(Note) Equity ratio = [(Net assets - Non-controlling interests) / Total assets] x 100

(3) Consolidated Cash Flows

Net cash provided by

Net cash provided by

Net cash provided by

Cash and cash

(used in) operating

(used in) investing

(used in) financing

equivalents at the end

activities

activities

activities

of the fiscal year

Million yen

Million yen

Million yen

Million yen

Fiscal year ended

(8,151,226)

9,352,146

549,640

70,181,478

March 31, 2023

Fiscal year ended

4,984,168

1,413,220

(621,040)

68,419,223

March 31, 2022

2. Dividends

Annual dividend

Total

Dividend

Dividends on

dividends paid

payout ratio

net assets ratio

1st

2nd

3rd

Year-end

Total

quarter-end

quarter-end

quarter-end

(Annual)

(Consolidated)

(Consolidated)

Yen

Yen

Yen

Yen

Yen

Million yen

%

%

Fiscal year ended

-

0.00

-

50.00

50.00

183,136

37.9

1.5

March 31, 2022

Fiscal year ended

-

0.00

-

50.00

50.00

173,047

41.4

1.6

March 31, 2023

Fiscal year ending

March 31, 2024

-

25.00

-

25.00

50.00

72.1

(Forecast)

3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2024 (April 1, 2023 to March 31, 2024)

(% indicates changes from the previous corresponding period.)

	Ordinary income	Net ordinary income	Net income attributable	Net income per share
	to Japan Post Holdings
Fiscal year ending	Million yen	%	Million yen	%	Million yen	%	Yen
10,860,000	(2.5)	620,000	(5.7)	240,000	(44.3)	69.37
March 31, 2024

(Note) Net income attributable to Japan Post Holdings has been calculated based on the ratio of shareholders' equity held by Japan Post Holdings in Japan Post Bank (approximately 60%) and Japan Post Insurance (approximately 49%), etc.

Net income per share in the consolidated financial results forecast has been calculated without considering the impact of the share repurchase based on the separate "Notice Concerning the Determination of Matters Related to the Acquisition of Treasury Stock" released today.

Japan Post Holdings Co., Ltd.

* Notes:

1. Changes in significant subsidiaries during the fiscal year under review (changes in specified subsidiaries resulting in changes in scope of consolidation): No
2. Changes in accounting policies, changes in accounting estimates and retrospective restatement
3. 1. Changes in accounting policies due to the revision of accounting standards: Yes
   2. Changes in accounting policies other than 1) above: No
   3. Changes in accounting estimates: No
   4. Retrospective restatement: No

(Note) Please refer to 3. Consolidated Financial Statements and Primary Notes (5) Notes to Consolidated Financial Statements (Changes in Accounting Policies) on page 15 of the Attachment for details.

1. Total number of shares issued (common stock)
2. 1. Total number of shares issued at the end of the fiscal year (including treasury stock): As of March 31, 2023: 3,657,797,700 shares
      As of March 31, 2022: 3,767,870,229 shares
   2. Total number of treasury stock at the end of the fiscal year:

As of March 31, 2023: 197,988,773 shares

As of March 31, 2022: 105,519,251 shares

3) Average number of shares during the fiscal year:

Fiscal year ended March 31, 2023: 3,567,713,664 shares

Fiscal year ended March 31, 2022: 3,802,720,644 shares

(Note) The total number of treasury stock at the end of the fiscal year includes the shares of the Company held by the management board benefit trust of 1,140,500 shares and 375,400 shares as of March 31, 2023 and 2022, respectively. The number of treasury stock excluded from calculation of the average number of shares during the fiscal year includes the shares of the Company held by the management board benefit trust of 1,022,544 shares and 413,423 shares for the fiscal year ended March 31, 2023 and 2022, respectively.

Japan Post Holdings Co., Ltd.

(Summary of non-consolidated financial results)

1. Non-consolidated Financial Results for the Fiscal Year Ended March 31, 2023 (April 1, 2022 to March 31, 2023)

(1) Non-consolidated Results of Operations	(% indicates changes from the previous corresponding period.)
		Operating income	Net operating income	Net ordinary income	Net income
		Million yen	%	Million yen		%	Million yen	%	Million yen		%
	Fiscal year ended	257,559	(9.5)	180,637		(11.3)	198,881	(8.7)	293,787		(9.7)
	March 31, 2023
	Fiscal year ended	284,688	69.5	203,545		94.1	217,753	89.7	325,460		-
	March 31, 2022
		Net income per share	Diluted net income
		per share
			Yen			Yen
	Fiscal year ended		82.35			-
	March 31, 2023
	Fiscal year ended		85.59			-
	March 31, 2022

(Note) Because there was no potential common stock, the amount for diluted net income per share is omitted.

(2) Non-consolidated Financial Position

	Total assets	Net assets	Equity ratio (Note)	Net assets per share
	Million yen	Million yen	%	Yen
As of March 31, 2023	5,762,311	5,625,034	97.6	1,625.82
As of March 31, 2022	5,848,650	5,740,721	98.2	1,567.50

(Reference) Equity: As of March 31, 2023: ¥5,625,034 million As of March 31, 2022: ¥5,740,721 million

(Note) Equity ratio = (Net assets / Total assets) x 100

• This summary of consolidated financial results is outside the scope of audit procedures by Certified Public Accountants or Audit Firm.
• Explanation on appropriate use of financial results forecast and other specific matters

Forecasts and other forward-looking statements presented in this document are based on information that the Company is aware of at present and certain assumptions that the Company has deemed reasonable, and the Company provides no assurance that the forecasts will be achieved or with respect to any other forward-looking statements. The actual future results may vary considerably depending upon various factors, such as the impact of the spread of COVID-19, the impact of the invasion of Ukraine by Russia, interest rate fluctuations, stock price fluctuations, foreign exchange fluctuations, asset value fluctuations, changes in the economic and financial environment, changes in the competitive environment, the occurrence of large-scale disasters, etc. and changes in laws and regulations. The Company disclaims any responsibility to update any forward-looking statements contained herein to the extent permitted by law or stock exchange rule. Please refer to 1. Overview of Results of Operations, etc. (1) Explanation of Results of Operations (Consolidated financial results forecast for the fiscal year ending March 31, 2024) on page 5 of the Attachment for the assumptions on which the financial results forecasts have been based, and precautions, etc. regarding their use.

Japan Post Holdings Co., Ltd.

[Attachment]
Table of Contents
1. Overview of Results of Operations, etc	2
(1)	Explanation of Results of Operations	2
(2)	Explanation of Financial Position	5
(3)	Basic Policy on Profit Distribution and Dividends for the Current Fiscal Year and Next Fiscal Year	6
2. Basic Approach Concerning Selection of Accounting Standards	6
3. Consolidated Financial Statements and Primary Notes	7
(1)	Consolidated Balance Sheets	7
(2)	Consolidated Statements of Income and Consolidated Statements of Comprehensive Income	9
Consolidated Statements of Income	9
Consolidated Statements of Comprehensive Income	10
(3)	Consolidated Statements of Changes in Net Assets	11
(4)	Consolidated Statements of Cash Flows	13
(5)	Notes to Consolidated Financial Statements	15
(Notes on Going-Concern Assumption)	15
(Changes in Accounting Policies)	15
(Segment Information)	16
(Per Share Data)	17
(Subsequent Events)	18
4. Non-consolidated Financial Statements	19
(1)	Non-consolidated Balance Sheets	19
(2)	Non-consolidated Statements of Income	21
(3)	Non-consolidated Statements of Changes in Net Assets	22

Supplementary Briefing Material:

Materials for Consolidated Financial Results for the Fiscal Year Ended March 31, 2023

1