Japan Post Holdings Co., Ltd. · TSE:6178
Japan Post — Q1 FY2025 Earnings Presentation
61 slides from Japan Post's earnings presentation, July 2025
Slide 1: IR Material
UNOFFICIAL TRANSLATION Although the Company pays close attention to provide English translation of the information disclosed in Japanese, the Japanese original prevails over its English translation in the case of any discrepancy. IR Material July, 2025 JAPAN POST HOLDINGS Security Code 6178
Slide 2: Contents
Contents 01 Executive Summary 2 02 Appendix 9 1
Slide 3: Executive Summary
Executive Summary FP JAPAN POST HOLDINGS /
Slide 4: JP Vision 2025+ — Major Targets
Plus JP Vision 2025+ — Major Targets In FY2024, consolidated net income attributable to Japan Post Holdings was ¥370.5 billion, well above the initial forecast. In FY2025, we aim to achieve an ROE of 4.6% and consolidated net income attributable to Japan Post Holdings of ¥380.0 billion, exceedin
Slide 5: Shareholder Return
Shareholder Return We plan to pay an annual dividend of ¥50 per share consisting of an interim and year-end dividend – twice-a-year dividend – also this fiscal year, in accordance with the Medium-term Management Plan. In FY2024, we implemented share repurchases totaling ¥350.0 billion. For FY202
Slide 6: Overview of Capital Strategy
Overview of Capital Strategy In line with the policy of reducing the Company’s equity interests in the two financial subsidiaries to 50% or less, we conducted a third partial sale of Japan Post Bank shares in March 2025. We have used the procured proceeds of approx. ¥600.0 billion to increase capi
Slide 7: [Appendix] Transfer of Capital (Increase in Capital Surplus due to Reduction of Capital Stock)
[Appendix] Transfer of Capital (Increase in Capital Surplus due to Reduction of Capital Stock) As part of the policy for initiatives to improve PBR announced in November 2023, we have set the initiative of improving capital efficiency through flexible share repurchases to improve ROE, and conducte
Slide 8: [Appendix] Overview of Japan Post Co.'s Transportation Network and Scope of Operations Using Trucks
[Appendix] Overview of Japan Post Co.’s Transportation Network and Scope of Operations Using Trucks Regional distribution Regional distribution post office post office Regional distribution post office Collection and delivery post office Approx. 3,200 locations (reference) Number of vehicles owned b
Slide 9: [Appendix] Investment for Growth of Japan Post Co.
[Appendix] Investment for Growth of Japan Post Co. Japan Post Holdings received approximately ¥600.0 billion in proceeds through the third partial sale of Japan Post Bank shares in March 2025. By using the proceeds from the sale to underwrite a ¥600.0 billion issuance of new shares by Japan Post
Slide 10: Appendix
Appendix Contents Financial Highlights for FY2024 10 Our History 17 Outline of Japan Post Group 18 Sales of shares in Two Financial Subsidiaries and Use of Proceeds from the sales of Shares 19 Strengthen Profitability Postal and Domestic Logistics Business 20 Strengthen Profitability Real Estate Bus
Slide 11: Financial Highlights for FY2024 (Summary of Consolidated Financial Results)
Financial Highlights for FY2024 (Summary of Consolidated Financial Results) Ordinary income was ¥11,468.3 billion, a decrease of ¥513.7 billion year-on-year. Net ordinary income was ¥814.5 billion, an increase of ¥146.2 billion year-on-year. Net income attributable to Japan Post Holdings was ¥
Slide 12: Financial Highlights for FY2024 (Analysis of Year-on-Year Change in Net Income)
Financial Highlights for FY2024 (Analysis of Year-on-Year Change in Net Income (Consolidated)) (Billions of yen) Net ordinary income 146.2 Other Extraordinary Net income gains and losses attributable to net Income taxes, non-controlling ordinary etc. interests Net ordinary income Net ordinary income
Slide 13: Financial Highlights for FY2024 Supplementary Information by Segment
Financial Highlights for FY2024 Supplementary Information by Segment Billions of Yen Compared to FY2023 FY2024 the previous fiscal year Net operating income and loss (68.8) (38.3) 30.4 Postal and Domestic Logistics Business Ordinary income 1,980.5 2,088.4 107.9 Net ordinary income and loss (65.1) (3
Slide 14: Financial Highlights for FY2024 (Trends in Ordinary Income)
Financial Highlights for FY2024 (Trends in Ordinary Income) (Billions of yen) 7,000.0 6,786.2 6,744.2 Banking 6,454.2 6,379.5 Business 6,164.9 6,000.0 Life Insurance Business Postal and 5,000.0 Domestic Logistics Business Post Office 4,000.0 Business International 3,000.0 2,651.6 Logistics 2,521.8 B
Slide 15: Financial Highlights for FY2024 (Trends in Net Income)
Financial Highlights for FY2024 (Trends in Net Income) (Billions of yen) 700.0 Trends in Net Ordinary Income (Banking Business and Life Insurance Business) 680.0 600.0 584.3 Banking Business Life Insurance Business 490.8 496.0 500.0 455.5 Postal and Domestic Logistics Business 394.2 Post Office Busi
Slide 16: Financial Highlights for FY2024 (Summary of Financial Results of Principal Subsidiaries)
Financial Highlights for FY2024 (Summary of Financial Results(the Principal Subsidiaries)) Net income (loss) was ¥(4.2) billion for Japan Post Co., ¥414.3 billion for Japan Post Bank, and ¥123.4 billion for Japan Post Insurance. Revenue increased but income decreased for Japan Post Co. Revenue d
Slide 17: Financial Highlights for FY2024 and Financial Results Forecast for FY2025
Financial Highlights for FY2024 and Financial Results Forecast for FY2025 In FY2024, consolidated net income attributable to Japan Post Holdings was ¥370.5 billion a increase of ¥101.8 billion (+37.9%) year-on year, well above the initial forecast, due to increased profits from the two financial s
Slide 18: Our History
Our History Modern Postal Service was established in 1871. The 150th Anniversary of the foundation of the Japan Post Group was in 2021. The Japan Post Group was privatized and established in 2007. We were listed on the First Section (currently Prime Market) of the Tokyo Stock Exchange in 2015*.
Slide 19: Outline of Japan Post Group
Outline of Japan Post Group We are providing integrated services within the Group, such as Postal and Domestics Logistics Business, Banking Business and Life Insurance Business. Our goal to reduce equity interests in the two financial subsidiaries to 50% or less by FY2025 materialized in March 2
Slide 20: Sales of Shares in Two Financial Subsidiaries and Use of Proceeds from the Sales
Sales of Shares in Two Financial Subsidiaries and Use of Proceeds from the Sales of Shares Based on the JP Vision 2025+ policy to reduce equity interests in the two financial subsidiaries to 50% or less by FY2025, the third sale of Japan Post Bank shares was conducted in March 2025. (Holding ratio
Slide 21: Postal and Domestic Logistics Business: Growth Strategy
Strengthen Profitability Postal and Domestic Logistics Business (Over Picture of the Growth Strategy of the Postal and Domestic Logistics Business) We will increase NPS® through improving products and services and strengthen sales structures to increase parcel volume with a focus on small parcels,
Slide 22: Strengthen Profitability Postal and Domestic Logistics Business
Strengthen Profitability Postal and Domestic Logistics Business We will strive to expand operating income from the logistics field, our competitive domain, by strengthening sales structure and sales capabilities and through collaborations with other companies. We engaged in increasing the conven
Slide 23: Postage Rates Revision, Trend in Operating Income of Postal Services
Strengthen Profitability Postal and Domestic Logistics Business ― Postage Rates Revision, Trend in operating income of postal services Revised postage rates in October 2024 to maintain stable postal services. Volume of mail items handled in FY2024 decreased by 7.5% YoY. The impact of the posta
Slide 24: Trends in Volume, Unit Price, and Income of Domestic Logistics Business
Strengthen Profitability Postal and Domestic Logistics Business ― Trends in Volume, Unit Price, and Income of Domestic Logistics Business In FY2024, the number of Yu-Pack parcels increased by 2.1% YoY, and the number of Yu-Packet parcels increased by 16.1% YoY. In our collaboration with Yamato G
Slide 25: Increasing Convenience in Sending and Receiving Parcels and Strengthening Corporate Sales
Strengthen Profitability Postal and Domestic Logistics Business ― Increasing the Convenience in Sending and Receiving Parcels and Strengthening Corporate Sales Organizations We engaged in increasing the convenience in sending and receiving parcels to ensure our parcel products are chosen by custom
Slide 26: Collaboration with Rakuten Group (JP Rakuten Logistics, Inc.)
Strengthen Profitability Postal and Domestic Logistics Business ― Collaboration with Rakuten Group (JP Rakuten Logistics, Inc.) Established JP Rakuten Logistics, Inc. in July 2021. We developed an efficient and convenient logistics DX platform and aim to open the platform for other business operat
Slide 27: Collaboration with Sagawa Express and Seino Group
Strengthen Profitability Postal and Domestic Logistics Business ― Collaboration with Sagawa Express and Seino Group In September 2021, we concluded a Basic Agreement on Collaboration with Sagawa Express. In addition to the initiatives initially implemented, we are also building up collaboration in
Slide 28: Investment for Increased Capacity in Our Logistics Business
Strengthen Profitability Postal and Domestic Logistics Business ― Investment for Increased Capacity in Our Logistics Business Consider a network of facilities that can ensure sufficient capacity for the increased volume of parcel products handled. To achieve efficient business operations centere
Slide 29: Strategic IT Investment
Strengthen Profitability Postal and Domestic Logistics Business ― Strategic IT Investment In addition to reviewing post office delivery routes and areas based on data acquired using telematics, we will promote measures to improve productivity, such as using AI to automatically create delivery rout
Slide 30: Overview of Tonami Holdings Co., Ltd.
Strengthen Profitability Postal and Domestic Logistics Business ― Overview of Tonami Holdings Co., Ltd. Starting from the Hokuriku region, the company operates transport and logistics businesses, with strengths in medium- and large-sized long-haul transportation Has a strong nationwide network o
Slide 31: Execution of Management Buyout (MBO) of Tonami Holdings
Strengthen Profitability Postal and Domestic Logistics Business ― Execution of Management Buyout (MBO) of Tonami Holdings A management buyout (MBO) of Tonami Holdings was conducted jointly with the founding family of Tonami Holdings. The tender offer conducted between February 27 and April 10, 2
Slide 32: Strengthen Profitability Real Estate Business
Strengthen Profitability Real Estate Business In light of major changes in the business environment, we steadily continue promoting the development of Group-owned real estate and the acquisition of non-Group-owned real estate, etc., so as to develop the business into one of the earning pillars for
Slide 33: Real Estate Development Projects Coordinated with Reorganization of Bases
Strengthen Profitability Real Estate Business Real Estate Development Projects Coordinated with the Reorganization of Bases to Streamline Postal/logistics Operations Through relocation and consolidation of operational functions of post offices that are in areas favorable for development, such as m
Slide 34: Real Estate Business: Trends in Operating Income and Net Operating Income
Strengthen Profitability Real Estate Business ― Trends in Operating Income and Net Operating Income In light of major changes in the business environment, such as soaring construction costs, we steadily continue promoting the development of Group-owned real estate and the acquisition of non-Group-
Slide 35: Real Estate Business - Main Properties under Development
Strengthen Profitability Real Estate Business - Main Properties under Development Major properties under development (construction started) The Landmark Nagoya Sakae (non-Group-owned real estate) MJR Kagoshima Chuo Station Front The Residence Former Kagoshima Office, Kyushu Regional Branch Locat
Slide 36: Main Properties Earmarked for Potential Development
Strengthen Profitability Real Estate Business Main Properties Earmarked for Potential Development Name Location Site area ( ) Current status Name Location Site area ( ) Current status Nationwide Tokyo 23 Wards Already Former Hokkaido Training Institute Sapporo-shi 14,900 Kojimachi Post Office Chiyod
Slide 37: Real Estate Business Main Real Estate in Operation
Strengthen Profitability Real Estate Business Main Real Estate in Operation Development (construction) of the large-scale properties undertaken under JP Vision 2025 was completed by FY2023. Office tenant leasing has been completed for the Hiroshima JP Building (construction completed in August 2
Slide 38: Real Estate Business – Properties in Operation
Strengthen Profitability Real Estate Business – Properties in Operation Construction Succeeded Site area Total floor area Classification Property name Location Asset type Project type completion assets (m2) (m2) (year/month) JP Tower (KITTE) ✔ Chiyoda-ku 11,600 212,000 Offices and commercial facilit
Slide 39: Real Estate Business – Properties in Operation
Strengthen Profitability Real Estate Business – Properties in Operation Succeeded Site area Construction Total floor area Classification Property name Location Asset type Project type completion assets (m2) (m2) (year/month) Grace Bear Urayasu Urayasu-shi 2,820 5,280 Residences Solely acquired prope
Slide 40: Post Office Business – Trends in Operating Income and Net Operating Income
Strengthen Profitability Post Office Business – Trends in Operating Income and Net Operating Income, etc. Trends in operating income and net operating income of post office business* Overview of commissions for business consignment (Billions of yen) (Billions of yen) Banking commissions = basic fe
Slide 41: [Reference] Review of Subsidies and Contributions Supporting the Post Office Network
[Reference] Review of Subsidies and Contributions Supporting the Maintenance of the Post Office Network The Organization for Postal Savings, Postal Life Insurance and Post Office Network changed the calculation method for the proportionate share of expenses indispensable for maintaining the post o
Slide 42: Enhancing Profitability, Value and Appeal of Post Offices, and Service Quality
Strengthen Profitability Post Office Business ― Enhancing Profitability, the Value and Appeal of Post Offices, and Service Quality By enhancing profitability, as well as the value, appeal, and service quality of post offices, we will build a system that allows us to grow into a business of choice
Slide 43: Collaboration with Local Governments, Companies Outside the Group, and Others
Strengthen Profitability Post Office Business ― Collaboration with Local Governments, Companies Outside the Group, and Others Strengthen initiatives conducive to building continual relationships with local governments, such as administrative work contracts from local governments, and promote partn
Slide 44: [Reference] Universal Service Providing at Post Offices
[Reference] Universal Service Providing at Post Offices Universal service providing at post offices Standards for establishment of post offices (summary) Postal services, simple savings, remittance, and settlement of debts In principle, one or more post offices must be established in each and cred
Slide 45: International Logistics Business: Net Operating Income (EBIT) and Margin
Strengthen Profitability International Logistics Business ― Trends in Net Operating Income (EBIT) and Operating Profit Margin Sold unprofitable global express business in August 2021 and focused on sustainably expanding the scale of income and improving the profitability of forwarding and logistic
Slide 46: Banking Business (Outlook for Net Interest Income, etc.)
Strengthen Profitability - Banking Business (Outlook for Net Interest Income, etc.) With the normalization of interest rate environment, our structure of earnings has changed significantly. Earnings are bottoming out and expanding. Trends and outlook for net interest income, etc.*1 (billion yen) T
Slide 47: Banking Business (Potential for Yen Interest Rate Portfolio)
Strengthen Profitability - Banking Business (Potential for Yen Interest Rate Portfolio) The effect of income will increase incrementally over subsequent years due to the multilayered accumulation of income from yen interest rate assets. We simulated the effect of income from holdings of JGBs and B
Slide 48: Banking Business (Restructuring of the Yen Interest Rate Portfolio)
Strengthen Profitability - Banking Business (Restructuring of the Yen Interest Rate Portfolio) Capturing the trend of rising yen interest rates, continuously invest in JGBs and significantly improve yields. Balance of JGBs*1 Balance of JGBs*1 Based on the Remaining Time to Maturity (As of Mar. 31,
Slide 49: Banking Business (Impact of Interest Rate Fluctuations)
Strengthen Profitability - Banking Business (Impact of Interest Rate Fluctuations) Higher long- and short-term yen interest rates and lower short-term overseas interest rates will have a positive impact on the Bank's P/L. <The Bank’s B/S (non-consolidated)> Note: As of Mar. 31, 2025. Note: Figures
Slide 50: Life Insurance Business
Strengthen Profitability Life Insurance Business While thoroughly implementing customer-oriented business operations, we aim to retain and expand customer base based on connections across life stages/generations, and grow into a sustainable and “strong company” that can secure stable income ”Uncha
Slide 51: Life Insurance Business (Product Improvement to Meet Customer Needs)
Strengthen Profitability Life Insurance Business (Pursuing Truly Customer-Oriented Insurance Services - Product Improvement to Meet Customer Needs) With the transition to positive interest rates, we launched a new product to meet customer needs (in January 2024) and new policies and the value of n
Slide 52: Life Insurance Business (Changes in Number of Policies)
Strengthen Profitability Life Insurance Business (Changes in Number of Policies) Changes in Number of New Policies and Policies in Force (Individual Insurance) New Policies left axis Policies in Force New category : right axis Policies in Force Postal Life Insurance category : right axis (10 thousan
Slide 53: Aflac Inc. to Become an Equity-Method Affiliate
Aflac Inc. to Become an Equity-Method Affiliate In March 2024, Aflac Incorporated will become an equity-method affiliate of Japan Post Holdings. The equity in earnings of affiliates, which was expected to be ¥48.0 billion based on past income levels and other factors, came to ¥65.9 billion in FY
Slide 54: Improve UX by Promoting DX
Improve UX by Promoting DX Offer Group-wide value to customers through the Post Office App, etc., to improve customer experience value. Launched the post office point service “Yu-Yu Point” in November 2024. Post Office App Point Service The Post Office App was released in October 2023 as the G
Slide 55: Sustainability Improve EX by Investing in Human Resources
Sustainability Improve EX by Investing in Human Resources We have improved employee base salary for the third consecutive year with the aim of contributing to the creation of a virtuous economic cycle, in addition to retaining employees and improving their motivation. In FY2025, this will be equiv
Slide 56: Sustainability ― Initiatives to Reduce GHG Emissions
Sustainability ― Initiatives to Reduce GHG Emissions Under the Medium-term Management Plan “JP Vision 2025+”, we target a 46% reduction in greenhouse gas (GHG) emissions by FY2030 (compared to FY2019), aiming to achieve carbon neutrality by 2050. GHG emissions for FY2024 are estimated to be down 2
Slide 57: Sustainability Others
Sustainability Others We revised the executive remuneration system to further enhance consciousness and contributions towards steadily achieving the Company’s performance targets and enhancing medium-to-long term corporate value. Under JP Vision 2025, we expect to reduce the workforce by an amou
Slide 58: Investment for Growth
Investment for Growth In FY2024, although there are some initiatives where plans for investment in logistics capacity enhancement and real estate investment have been altered, necessary investments have been made while keeping other costs under control. In addition to the below, we invested in T
Slide 59: [Reference1] Transition of Significant Management Indicators (for Five Years)
[Reference1] Transition of Significant Management Indicators (for Five Years) FY2020 FY2021 FY2022 FY2023 FY2024 Transition of Significant Management Indicators (Consolidated) Total Income Millions of Yen 11,720,403 11,264,774 11,138,570 11,982,152 11,468,368 Income before income taxes Millions of Y
Slide 60: [Reference 2] Comparison of Postal Businesses in Major Countries
[Reference 2] Comparison of Postal Businesses in Major Countries Japan United States United Kingdom France Germany Italy IDS Post Office Postal (former Royal Mail) Japan Post Group USPS (retail post office Le groupe La Poste DHL Group Poste Italiane Group Business 1 (postal and logistics company) co
Slide 61: For inquiries about this document, please contact
For inquiries about this document, please contact: IR Office, Corporate Planning Department, Japan Post Holdings Co., Ltd. Email: irshitsu.ii@jp-holdings.jp <Disclaimer> This document contains forward-looking statements, including forecasts and targets, for the Japan Post Group and its group compani
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