Note: This document has been translated from the Japanese original for reference purposes only. In the event of any discrepancy between this translated document and the Japanese original, the original shall prevail.
Overview of Consolidated Financial Results of Japan Post Co. for the Six Months Ended September 30, 2025 November 14, 2025
Copyright © JAPAN POST GROUP. All Rights Reserved.
Table of Contents
Consolidated Balance Sheets 1
Consolidated Statements of Income and Consolidated Statements of
Comprehensive Income 3
Consolidated Statements of Income 3
Consolidated Statements of Comprehensive Income 4
Segment Information 5
Consolidated Balance Sheets
(Millions of yen) As of March 31, 2025 As of September 30, 2025
Assets
Current assets
Cash and deposits 1,260,432 1,313,378
Notes receivable, operating accounts receivable and contract assets | 299,121 | 322,414 |
Securities | 15,000 | 17,500 |
Inventories | 32,203 | 34,564 |
CMS deposits paid | 454,794 | 930,711 |
Outstanding amount of banking business consignment | 46,530 | 24,055 |
Other current assets | 49,644 | 72,156 |
Reserve for possible loan losses | (782) | (1,258) |
Total current assets | 2,156,943 | 2,713,521 |
Non-current assets | ||
Tangible fixed assets | ||
Buildings | 902,835 | 902,049 |
Land | 1,353,359 | 1,419,419 |
Right-of-use assets | 54,556 | 69,660 |
Other tangible fixed assets | 230,356 | 241,587 |
Total tangible fixed assets | 2,541,107 | 2,632,717 |
Intangible assets | 94,485 | 97,836 |
Investments and other assets | ||
Other investments and other assets | 75,197 | 89,138 |
Reserve for possible loan losses | (2,012) | (2,816) |
Total investments and other assets | 73,184 | 86,321 |
Total non-current assets | 2,708,778 | 2,816,875 |
Total assets | 4,865,721 | 5,530,396 |
Liabilities
(Millions of yen) As of March 31, 2025 As of September 30, 2025
Current liabilities
Notes payable and operating accounts 126,782 130,008 payable | ||
Short-term borrowings | 95,333 | 160,634 |
Current portion of long-term borrowings | 8,599 | 11,945 |
Other accounts payable | 278,242 | 131,076 |
Outstanding amount of life insurance 789 645 business consignment | ||
Income taxes payable | 16,541 | 15,438 |
Deposits received | 172,359 | 149,947 |
Fund deposits for post offices | 760,000 | 870,000 |
Reserve for bonuses | 108,350 | 110,319 |
Reserve for management bonuses | 1,228 | 253 |
Other current liabilities | 173,289 | 182,136 |
Total current liabilities | 1,741,516 | 1,762,407 |
Long-term liabilities | ||
Long-term borrowings | 287,906 | 290,757 |
Lease obligations | 85,296 | 99,585 |
Deferred tax liabilities | 9,384 | 24,576 |
Reserve for management board benefit 367 412 trust | ||
Liability for retirement benefits | 1,901,596 | 1,943,410 |
Other long-term liabilities | 98,729 | 83,498 |
Total long-term liabilities | 2,383,281 | 2,442,241 |
Total liabilities | 4,124,798 | 4,204,648 |
Net assets | ||
Shareholders' equity | ||
Capital stock | 400,000 | 700,000 |
Capital surplus | 141,930 | 441,930 |
Retained earnings | 235,405 | 226,137 |
Total shareholders' equity | 777,336 | 1,368,068 |
Accumulated other comprehensive income | ||
Net unrealized gains (losses) on 319 2,272 available-for-sale securities | ||
Foreign currency translation (118,482) | (119,337) | |
Accumulated adjustments for 55,571 | 46,639 | |
Total accumulated other comprehensive (62,662) | (70,533) | |
Non-controlling interests | 26,250 | 28,213 |
Total net assets | 740,923 | 1,325,748 |
Total liabilities and net assets | 4,865,721 | 5,530,396 |
Net deferred gains (losses) on hedges (71) (107) adjustments
retirement benefits loss
Consolidated Statements of Income and Consolidated Statements of Comprehensive Income
Consolidated Statements of Income
Six months ended September 30
(Millions of yen)
Six months ended September 30, 2024
Six months ended September 30, 2025
Operating income
Postal service business income 930,897 1,108,518
Commissions for banking business consignment
157,762
154,286
Commissions for life insurance business
consignment
59,144 45,051
Funds to maintain post office network | 151,500 | 160,343 |
International logistics business income | 264,677 | 231,596 |
Other operating income | 77,324 | 75,605 |
Total operating income | 1,641,307 | 1,775,402 |
Operating costs | 1,594,107 | 1,661,524 |
Gross operating income | 47,200 | 113,877 |
Sales, general and administrative costs | 109,801 | 118,107 |
Net operating loss | (62,600) | (4,229) |
Other income | ||
Interest income | 770 | 2,195 |
Dividend income | 20 | 318 |
Equity in earnings of affiliates | 383 | 459 |
Subsidy income | 1,472 | 1,101 |
Others | 1,028 | 2,127 |
Total other income | 3,676 | 6,202 |
Other expenses | ||
Interest expenses | 5,314 | 6,890 |
Share issuance costs | - | 2,100 |
Others | 955 | 1,580 |
Total other expenses | 6,270 | 10,571 |
Net ordinary loss | (65,194) | (8,598) |
Extraordinary gains | ||
Gains on sale of fixed assets | 2,869 | 1,013 |
Gains on negative goodwill | - | 8,808 |
Others | 1,261 | 964 |
Total extraordinary gains | 4,131 | 10,786 |
Extraordinary losses | ||
Losses on sale of fixed assets | 178 | 132 |
Losses on disposal of fixed assets | 646 | 1,063 |
Losses on impairment of fixed assets | 200 | 1,959 |
Others | 1,907 | 547 |
Total extraordinary losses | 2,933 | 3,703 |
Loss before income taxes | (63,996) | (1,515) |
Income taxes current | 3,989 | 6,267 |
Income taxes deferred | 53 | 480 |
Total income taxes | 4,043 | 6,748 |
Net loss | (68,039) | (8,264) |
Net income attributable to non-controlling interests
283 991
Net loss attributable to Japan Post Co. (68,323) (9,256)