Japan Post : Overview of Consolidated Financial Results of Japan Post Co. for the Three Months Ended June 30, 2022

Overview of

Consolidated Financial Results

of Japan Post Co.

for the Three Months Ended June 30, 2022

August 10, 2022

Copyright © 2022 JAPAN POST GROUP. All Rights Reserved.

Table of Contents

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

1. Interim Consolidated Balance Sheets

						(Millions of yen)
				As of March 31, 2022		As of June 30, 2022
	Assets
	Current assets
	Cash and deposits			2,116,337		1,884,207
	Notes receivable, operating accounts	313,807	340,136
	receivable and contract assets
	Securities			15,000		15,000
	Inventories	39,439	40,744
	Outstanding amount of banking business			17,988		17,947
	consignment
	Other current assets	43,724	70,569
	Reserve for possible loan losses			(1,064)		(1,374)
	Total current assets		2,545,232	2,367,230
	Non-current assets
	Tangible fixed assets
	Buildings			855,718		843,522
	Land	1,293,431	1,289,602
	Right-of-use assets			63,946		62,945
	Other tangible fixed assets	296,127	291,975
	Total tangible fixed assets			2,509,224		2,488,045
	Intangible assets		47,994	55,716
	Investments and other assets
	Other investments and other assets	81,983	83,415
	Reserve for possible loan losses			(3,467)		(3,446)
	Total investments and other assets	78,515	79,968
	Total non-current assets			2,635,734		2,623,731
	Total assets		5,180,966	4,990,961

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(Millions of yen)

As of March 31, 2022

As of June 30, 2022

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

Income taxes payable

Deposits received

Fund deposits for post offices

Reserve for bonuses

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				104,751
	160,569	344,216
	163,642				2
	248,664	169,251
	1,583				1,585
	24,180	7,842
	221,994				222,022
	860,000	860,000
	113,800				33,263
	166,070	186,451
	2,069,126				1,929,387
	103,241				101,888
	10,990	12,235
	197				197
	227	118
	1,995,085				2,020,884
	91,942	91,083
	2,201,686				2,226,407
	4,270,812	4,155,794
	400,000				400,000
	141,930	141,930
	327,640				264,160
	869,571	806,091
	28	174
	(212)				(20)
	(112,443)	(117,986)
	133,987				128,232

	Total accumulated other comprehensive	21,360	10,399
	income
	Non-controlling interests			19,222	18,676
	Total net assets	910,154	835,167
	Total liabilities and net assets			5,180,966	4,990,961

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

1. Interim Consolidated Statements of Income

Three months ended June 30

	(Millions of yen)
Three months ended	Three months ended
June 30, 2021	June 30, 2022

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

484,211	470,901
93,546				89,797
48,644	34,967
72,747				70,204
181,076	161,992
22,003				25,690

	Total operating income	902,230	853,555
	Operating costs				805,234		769,616
Gross operating income	96,995	83,938
	Sales, general and administrative costs				60,156		57,197
Net operating income	36,838	26,741
	Other income
	Interest income	35	116
	Dividend income				4		114
	Equity in earnings of affiliates	134	493
	Foreign exchange gains				-		1,116
	Subsidy income	330	435
	Others				1,219		509
	Total other income	1,723	2,786
	Other expenses
	Interest expenses	2,654	2,030
	Provision for reserve for possible loan losses				1,052		15
	Others	297	151
	Total other expenses				4,004		2,198
Net ordinary income	34,558	27,329
	Extraordinary gains
	Gains on sales of fixed assets	1,544	5,457
	Others				113		72
	Total extraordinary gains	1,658	5,529
	Extraordinary losses
	Losses on sales of fixed assets	57	50
	Losses on disposal of fixed assets				191		141
	Losses on impairment of fixed assets	509	29
	Others				7		23
	Total extraordinary losses	767	245
	Income before income taxes				35,450		32,613
Income taxes current	2,091	2,815
	Income taxes deferred				273		190
Total income taxes	2,365	3,005
	Net income				33,084		29,608
Net income (loss) attributable to	399	(129)
	non-controlling interests
	Net income attributable to				32,685		29,737
	Japan Post Co.

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