Interim report
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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 . Consolidated Financial Results for the Three Months Ended June 30 , 2026 < Under Japanese GAAP > Accounting Standards FASF MEMBERSHIP August 7 , 2026 Company name : Code number : Representative : Contact : Phone : Japan Post Holdings Co. , Ltd. URL : Stock exchange listing : Tokyo Stock Exchange 6178 https://www.japanpost.jp/en/ NEGISHI Kazuyuki , Director and Representative Executive Officer , President & CEO HIRAGA Yoshihiro , Head of IR Office , Corporate Planning Dept. + 81-3-3477-0206 Scheduled date of commencing dividend payments : Availability of supplementary briefing material on financial results : Schedule of financial results briefing session : Available Scheduled ( for institutional investors and analysts ) ( Amounts of less than one million yen are rounded down . ) 1. Consolidated Financial Results for the Three Months Ended June 30 , 2026 ( April 1 , 2026 to June 30 , 2026 ) ( 1 ) Consolidated Results of Operations ( % indicates changes from the previous corresponding period . ) Ordinary income Net ordinary income Million yen % Million yen % Net income attributable to Japan Post Holdings Million yen % Three months ended 2,985,856 6.2 339,863 50.9 125,303 63.8 June 30 , 2026 Three months ended 2,810,244 2.7 225,161 6.5 76,508 2.4 June 30 , 2025 ( Note ) Comprehensive income : Three months ended June 30 , 2026 : ¥ 859,234 million [ 128.9 % ] Three months ended June 30 , 2025 : ¥ 375,368 million [ - % ] Net income per share Diluted net income per share Yen Yen Three months ended 45.07 June 30 , 2026 Three months ended June 30 , 2025 25.75 ( Notes ) 1. Because there was no potential common stock , the amount for diluted net income per share is omitted . 2. The provisional accounting treatment of the business combination was finalized during the three months ended September 30 , 2025 , and the consolidated financial statements for the three months ended June 30 , 2025 reflect a material revision concerning the allocation of acquisition cost . For details , please refer to " 2. Consolidated Financial Statements and Primary Notes , ( 3 ) Notes to Consolidated Financial Statements ( Business Combinations ) " on page 10 of the Attachment . ( 2 ) Consolidated Financial Position As of June 30 , 2026 As of March 31 , 2026 Total assets Million yen 284,714,797 289,864,524 ( Reference ) Equity : As of June 30 , 2026 : ¥ 9,936,253 million As of March 31 , 2026 : ¥ 9,714,500 million Net assets Equity ratio Million yen 16,977,569 16,481,925 % 3.5 3.4
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2. Dividends Annual dividend 1st quarter-end 2nd quarter-end 3rd quarter-end Year-end Total Yen Yen Yen Yen Yen Fiscal year ended March 31, 2026 - 25.00 - 25.00 50.00 Fiscal year ending March 31, 2027 - Fiscal year ending March 31, 2027 (Forecast) 30.00 - 30.00 60.00 (Note) Revision of dividends forecast to the latest announcement: None 3. Consolidated Financial Results Forecast for the Fiscal Year Ending March 31, 2027 (April 1, 2026 to March 31, 2027) (% indicates changes from the previous corresponding period.) Ordinary income Net ordinary income Net income attributable to Japan Post Holdings Net income per share Million yen % Million yen % Million yen % Yen Fiscal year ending March 31, 2027 11,360,000 (0.7) 1,170,000 8.8 380,000 1.5 138.39 (Note) Revision of financial results forecast to the latest announcement: None
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* Notes: (1) Significant changes in the scope of consolidation during the fiscal period under review: No (2) Adoption of accounting method specific to preparation of quarterly consolidated financial statements: No (3) Changes in accounting policies, changes in accounting estimates and retrospective restatement 1) Changes in accounting policies due to the revision of accounting standards: No 2) Changes in accounting policies other than 1) above: No 3) Changes in accounting estimates: No 4) Retrospective restatement: No (4) Total number of shares issued (common stock) 1) Total number of shares issued at the end of the fiscal period (including treasury stock): As of June 30, 2026: 2,808,194,600 shares As of March 31, 2026: 2,972,934,900 shares 2) Total number of treasury stock at the end of the fiscal period: As of June 30, 2026: 73,802,110 shares As of March 31, 2026: 166,617,972 shares 3) Average number of shares during the fiscal period: Three months ended June 30, 2026: 2,780,183,424 shares Three months ended June 30, 2025: 2,971,560,314 shares (Note) The total number of treasury stock at the end of the fiscal period includes the shares of the Company held by the management board benefit trust of 1,586,400 shares and 1,777,300 shares as of June 30, 2026 and March 31, 2026, respectively. The number of treasury stock excluded from the calculation of the average number of shares during the fiscal period includes the shares of the Company held by the management board benefit trust of 1,759,076 shares and 1,274,346 shares for the three months ended June 30, 2026 and 2025, respectively. * Review of the Japanese-language originals of the attached consolidated quarterly financial statements by Certified Public Accountants or an Audit Firm attached: Yes (voluntary) * 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 changes in monetary policy and economic fluctuation in Japan and overseas, 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.
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Japan Post Holdings Co., Ltd. 1 [Attachment] Table of Contents 1. Overview of Results of Operations for the Consolidated Fiscal Period under Review, etc. ...................................2 (1) Results of Operations ........................................................................................................................................2 (2) Financial Position ..............................................................................................................................................2 2. Consolidated Financial Statements and Primary Notes ..........................................................................................3 (1) Consolidated Balance Sheets ............................................................................................................................3 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income .......................5 (3) Notes to Consolidated Financial Statements .....................................................................................................7 (Notes on Segment Information and Others) ..................................................................................................... 7 (Notes to Significant Changes in Shareholders’ Equity).................................................................................... 9 (Notes on Going-Concern Assumption)............................................................................................................. 9 (Notes on Cash Flow Statements) ...................................................................................................................... 9 (Additional Information).................................................................................................................................. 10 (Business Combinations) ................................................................................................................................. 10 Supplementary Briefing Material: Materials for Financial Results for the 1st Quarter of the Fiscal Year Ending March 31, 2027
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Japan Post Holdings Co., Ltd. 2 1. Overview of Results of Operations for the Consolidated Fiscal Period under Review, etc. (1) Results of Operations Consolidated ordinary income for the three months ended June 30, 2026 amounted to ¥2,985,856 million (up ¥175,611 million year-on-year), of which the postal and domestic logistics business segment accounted for ¥567,953 million (down ¥5,208 million year-on-year); the post office business segment accounted for ¥253,918 million (down ¥1,394 million year-on-year); the international logistics business segment accounted for ¥154,686 million (up ¥45,263 million year-on-year); the real estate business segment accounted for ¥28,642 million (up ¥8,216 million year -on-year); the banking business segment accounted for ¥848,157 million ( up ¥180,965 million year-on-year); and the life insurance business segment accounted for ¥1,365,734 million (down ¥69,117 million year-on-year). Consolidated net ordinary income amounted to ¥ 339,863 million (up ¥ 114,702 million year-on-year) as a result of net ordinary loss of ¥4,762 million in the postal and domestic logistics business segment (net ordinary income of ¥423 million in the same period of the previous fiscal year); net ordinary income of ¥3,063 million in the post office business segment (down ¥3,119 million year-on-year); net ordinary loss of ¥ 652 million in the international logistics business segment (net ordinary loss of ¥1,772 million in the same period of the previous fiscal year); net ordinary income of ¥8,827 million in the real estate business segment (up ¥4,203 million year- on-year); net ordinary income of ¥ 253,505 million in the banking business segment (up ¥99,669 million year- on-year); and net ordinary income of ¥70,637 million in the life insurance business segment (up ¥2,501 million year-on-year). As a result of the above, net income attributable to Japan Post Holdings amounted to ¥ 125,303 million (up ¥48,795 million year-on-year*), which comprises consolidated net ordinary income after adjusting for extraordinary gains (losses), provision for reserve for policyholder dividends, income taxes and net income attributable to non-controlling interests. * The provisional accounting treatment of the business combination was finalized during the three months ended September 30, 2025, and the consolidated financial statements for the three months ended June 30, 2025 reflect a material revision concerning the allocation of acquisition cost. (2) Financial Position 1) Assets Consolidated total assets were ¥284,714,797 million, down ¥5,149,727 million from the end of the previous fiscal year. Major factors include an increase in loans of ¥1,749,286 million and an increase in money held in trust of ¥834,413 million, as well as a decrease in c ash and due from banks of ¥ 6,163,407 million and a decrease in receivables under resale agreements of ¥1,074,903 million. 2) Liabilities Consolidated total liabilities were ¥ 267,737,228 million, down ¥5,645,370 million from the end of the previous fiscal year. Major factors include an increase in deposits of ¥419,226 million, as well as a decrease in payables under repurchase agreements of ¥5,271,093 million, a decrease in policy reserves of ¥368,660 million, and a decrease in payables under securities lending transactions of ¥272,305 million. 3) Net Assets Consolidated total net assets were ¥ 16,977,569 million, up ¥495,643 million from the end of the previous fiscal year. Major factors include an increase in net unrealized gains (losses) on available-for-sale securities of ¥298,998 million, an increase in non-controlling interests of ¥273,891 million, and a decrease in treasury stock of ¥100,228 million (an increase in net assets), as well as a decrease in capital surplus of ¥250,037 million.
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Japan Post Holdings Co., Ltd. 3 2. Consolidated Financial Statements and Primary Notes (1) Consolidated Balance Sheets (Millions of yen) As of March 31, 2026 As of June 30, 2026 Assets Cash and due from banks 57,012,194 50,848,787 Call loans 1,790,000 1,505,000 Receivables under resale agreements 8,742,634 7,667,730 Monetary claims bought 539,146 527,331 Trading account securities 214 436 Money held in trust 14,262,666 15,097,080 Securities 191,440,416 191,444,777 Loans 6,434,130 8,183,417 Foreign exchanges 178,799 199,314 Other assets 4,848,840 4,890,936 Tangible fixed assets 3,362,031 3,358,430 Intangible assets 326,422 315,071 Asset for retirement benefits 111,959 111,593 Deferred tax assets 822,231 572,108 Reserve for possible loan losses (5,789) (5,941) Allowance for investment losses (1,373) (1,277) Total assets 289,864,524 284,714,797
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Japan Post Holdings Co., Ltd. 4 (Millions of yen) As of March 31, 2026 As of June 30, 2026 Liabilities Deposits 184,652,065 185,071,291 Payables under repurchase agreements 27,113,363 21,842,270 Policy reserves and others 48,102,350 47,751,151 Reserve for outstanding claims 319,831 325,610 Policy reserves 46,653,326 46,284,665 Reserve for policyholder dividends 1,129,192 1,140,875 Payables under securities lending transactions 2,433,717 2,161,412 Borrowed money 3,209,411 3,224,289 Foreign exchanges 939 685 Bonds 585,300 595,300 Other liabilities 4,605,101 4,477,381 Reserve for bonuses 116,181 34,656 Reserve for management bonuses 1,487 844 Liability for retirement benefits 1,752,204 1,779,287 Reserve for employee stock ownership plan trust 432 206 Reserve for management board benefit trust 2,369 1,854 Reserve for reimbursement of deposits 39,607 39,187 Reserve under the special laws 719,232 707,532 Reserve for price fluctuations 719,232 707,532 Deferred tax liabilities 48,835 49,876 Total liabilities 273,382,599 267,737,228 Net assets Capital stock 1,750,000 1,750,000 Capital surplus 1,409,132 1,159,095 Retained earnings 5,817,255 5,872,356 Treasury stock (252,296) (152,067) Total shareholders’ equity 8,724,092 8,629,385 Net unrealized gains (losses) on available-for-sale securities 1,335,794 1,634,793 Net deferred gains (losses) on hedges (749,126) (750,452) Foreign currency translation adjustments (47,599) (36,885) Effect of changes in discount rate assumptions 174,109 192,862 Accumulated adjustments for retirement benefits 277,229 266,550 Total accumulated other comprehensive income 990,408 1,306,867 Non-controlling interests 6,767,424 7,041,315 Total net assets 16,481,925 16,977,569 Total liabilities and net assets 289,864,524 284,714,797
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Japan Post Holdings Co., Ltd. 5 (2) Consolidated Statements of Income and Consolidated Statements of Comprehensive Income Consolidated Statements of Income Three months ended June 30 (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Ordinary income 2,810,244 2,985,856 Postal business income 671,469 711,122 Banking business income 666,837 847,501 Life insurance business income 1,432,276 1,365,729 Other ordinary income 39,661 61,501 Ordinary expenses 2,585,083 2,645,992 Operating expenses 1,860,722 1,893,481 Personnel expenses 623,186 629,567 Depreciation and amortization 66,744 71,336 Other ordinary expenses 34,430 51,606 Net ordinary income 225,161 339,863 Extraordinary gains 25,961 22,059 Gains on sale of fixed assets 396 317 Gains on negative goodwill 8,808 - Reversal of reserve under the special laws 16,740 11,700 Reversal of reserve for price fluctuations 16,740 11,700 Gains on sale of stocks of subsidiaries and affiliates - 9,597 Compensation for transfer 3 67 Other extraordinary gains 11 375 Extraordinary losses 2,736 2,931 Losses on sale and disposal of fixed assets 848 2,023 Losses on impairment of fixed assets 1,726 12 Other extraordinary losses 162 895 Provision for reserve for policyholder dividends 36,237 33,349 Income before income taxes 212,148 325,642 Income taxes current 51,734 96,029 Income taxes deferred 5,076 (2,638) Total income taxes 56,811 93,391 Net income 155,336 232,251 Net income attributable to non-controlling interests 78,828 106,947 Net income attributable to Japan Post Holdings 76,508 125,303
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Japan Post Holdings Co., Ltd. 6 Consolidated Statements of Comprehensive Income Three months ended June 30 (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Net income 155,336 232,251 Other comprehensive income 220,031 626,983 Net unrealized gains (losses) on available-for-sale securities 132,414 621,837 Net deferred gains (losses) on hedges 107,250 (2,496) Foreign currency translation adjustments (1,322) 1,256 Adjustments for retirement benefits (5,416) (11,027) Share of other comprehensive income (loss) of affiliates (12,894) 17,413 Comprehensive income 375,368 859,234 Total comprehensive income attributable to: Japan Post Holdings 177,595 441,932 Non-controlling interests 197,773 417,302
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Japan Post Holdings Co., Ltd. 7 (3) Notes to Consolidated Financial Statements (Notes on Segment Information and Others) Three months ended June 30, 2025 1. Ordinary income and segment profit (loss) of reportable segments (Millions of yen) Reportable Segments Other business Total Postal and domestic logistics business Post office business International logistics business Real estate business Banking business Life insurance business Subtotal Ordinary income Ordinary income from third parties 564,314 10,430 109,252 19,526 666,837 1,432,276 2,802,638 7,424 2,810,063 Intersegment ordinary income 8,847 244,882 170 899 354 2,575 257,728 135,713 393,442 Total 573,162 255,312 109,422 20,426 667,191 1,434,851 3,060,367 143,138 3,203,506 Segment profit (loss) 423 6,183 (1,772) 4,624 153,836 68,135 231,430 111,029 342,459 (Notes) 1. Ordinary income is presented instead of net sales which is typical for companies in other industries. 2. “Other business” includes the hospital business. Segment profit in “Other business” includes dividend income from subsidiaries and affiliates in the amount of ¥114,455 million and equity method loss of ¥(2,413) million. 2. Reconciliation between total segment profit (loss) of reportable segments and net ordinary income on the consolidated statements of income (Millions of yen) Items Amount Total segment profit (loss) of reportable segments 231,430 Segment profit in other business 111,029 Eliminations of intersegment transactions (116,924) Adjustments (374) Net ordinary income on the consolidated statements of income 225,161 (Note) “Adjustments” are primarily due to differences in the calculation methods used for segment loss for the international logistics business segment and net ordinary income on the consolidated statements of income. 3. Information concerning losses on impairment of fixed assets, goodwill, etc. (Material Gains on Negative Goodwill) In the postal and domestic logistics business segment, Japan Post Co., Ltd., a consolidated subsidiary of the Company, acquired the shares of Tonami Holdings Co., Ltd., through its consolidated subsidiary, JP Tonami Group Co., Ltd. Gains on negative goodwill of ¥8,808 million were recorded in the three months ended June 30, 2025 as a result of the inclusion of Tonami Holdings Co., Ltd. and its subsidiaries and affiliates in the scope of consolidation. The amount of gains on negative goodwill reflects the review after the provisional accounting treatment for the business combination was finalized.
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Japan Post Holdings Co., Ltd. 8 Three months ended June 30, 2026 1. Ordinary income and segment profit (loss) of reportable segments (Millions of yen) Reportable Segments Other business Total Postal and domestic logistics business Post office business International logistics business Real estate business Banking business Life insurance business Subtotal Ordinary income Ordinary income from third parties 557,853 10,439 154,527 27,524 847,501 1,365,729 2,963,575 22,264 2,985,839 Intersegment ordinary income 10,100 243,479 159 1,118 655 5 255,516 169,187 424,704 Total 567,953 253,918 154,686 28,642 848,157 1,365,734 3,219,092 191,451 3,410,544 Segment profit (loss) (4,762) 3,063 (652) 8,827 253,505 70,637 330,620 156,438 487,058 (Notes) 1. Ordinary income is presented instead of net sales which is typical for companies in other industries. 2. “Other business” includes the hospital business. Segment profit in “Other business” includes dividend income from subsidiaries and affiliates in the amount of ¥146,925 million and equity method income of ¥12,637 million. 2. Reconciliation between total segment profit (loss) of reportable segments and net ordinary income on the consolidated statements of income (Millions of yen) Items Amount Total segment profit (loss) of reportable segments 330,620 Segment profit in other business 156,438 Eliminations of intersegment transactions (146,569) Adjustments (625) Net ordinary income on the consolidated statements of income 339,863 (Note) “Adjustments” are primarily due to differences in the calculation methods used for segment loss for the international logistics business segment and net ordinary income on the consolidated statements of income.
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Japan Post Holdings Co., Ltd. 9 (Notes to Significant Changes in Shareholders’ Equity) Three months ended June 30, 2025 (Cancellation of Treasury Stock) The Company resolved, at the meeting of its Board of Directors held on March 28, 2025, to cancel treasury stock in accordance with the provisions of Article 178 of the Companies Act. The Company cancelled 233,305,400 shares of treasury stock, effective April 11, 2025. As a result, during the three months ended June 30, 202 5, capital surplus and treasury stock each decreased by ¥349,967 million. As this cancellation of treasury stock resulted in a negative balance of other capital surplus, the balance of other capital surplus was returned to zero and the corresponding negative amount was deducted from other retained earnings. Partly as a result of these actions, as of June 30, 2025, the balance of retained earnings was ¥5,254,895 million and the balance of treasury stock was ¥2,327 million. Three months ended June 30, 2026 (Acquisition of Treasury Stock) The Company resolved, at the meeting of its Board of Directors held on May 15, 2026, to acquire its treasury stock in accordance with Article 39, Paragraph 1 of the Company’s Articles of Incorporation complying with Article 459, Paragraph 1, Item 1 of the Companies Act, and completed the acquisition of treasury stock on May 27, 2026. As a result, during the three months ended June 30, 2026, treasury stock increased by ¥ 149,999 million (72,115,300 shares). (Cancellation of Treasury Stock) The Company resolved, at the meeting of its Board of Directors held on March 27, 2026, to cancel treasury stock in accordance with the provisions of Article 178 of the Companies Act. The Company cancelled 164,740,300 shares of treasury stock, effective April 10, 2026. As a result, during the three months ended June 30, 2026, capital surplus and treasury stock each decreased by ¥249,998 million. Partly as a result of these actions, as of June 30, 2026, the balance of capital surplus was ¥1,159,095 million and the balance of treasury stock was ¥152,067 million. (Notes on Going-Concern Assumption) None (Notes on Cash Flow Statements) Consolidated statements of cash flows for the three months ended June 30, 202 6 have not been prepared. Depreciation and amortization (including amortization of intangible assets apart from goodwill ) and amortization of goodwill for the three months ended June 30, 2025 and 2026 are as follows. (Millions of yen) Three months ended June 30, 2025 Three months ended June 30, 2026 Depreciation and amortization 66,744 71,336 Amortization of goodwill 494 571
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Japan Post Holdings Co., Ltd. 10 (Additional Information) (Partial Revision of the Postal Service Privatization Act and Other Relevant Acts) “Act for Partial Revision of the Postal Service Privatization Act and Others (Act No. 50 of 2026)” was enacted on June 19, 2026, and “Postal Service Privatization Act (Act No.97 of 2005), ” “Act on Japan Post Holdings Co., Ltd. (Act No.98 of 2005),” “Japan Post Co., Ltd. Act (Act No.100 of 2005),” and “Act on the Organization for Postal Savings, Postal Life Insurance and Post Office Network, Independent Administrative Agency (Act No. 101 of 2005)” were revised. The above revised acts are subject to government ordinances on those acts to be stipulated in the future. Therefore, it is difficult to estimate the impact reasonably at present. (Business Combinations) (Material Revision to the Initial Allocation of Acquisition Cost in Comparative Information) In the three months ended June 30, 2025 , the Company implemented provisional accounting treatment for the business combination with Tonami Holdings Co., Ltd. , executed on April 17, 2025 . The accounting treatment was subsequently finalized in the three months ended September 30, 2025. Pursuant to this finalization of provisional accounting treatment, the comparative information included in the consolidated financial statements for the three months ended June 30, 202 6 reflects a material revision concerning the allocation of acquisition cost. The provisional calculation of the amount of goodwill, ¥1,750 million, has been reduced by the same amount, and g ains on negative goodwill of ¥8,808 million have been recorded. As a result, on the consolidated statements of income for the three months ended June 30, 202 5, income before income taxes and net income are each ¥8,808 million higher, and net income attributable to Japan Post Holdings is ¥8,805 million higher, than before the revision. Tonami Holdings Co., Ltd. conducted an absorption-type merger on July 1, 2026, with Tonami Holdings Co., Ltd. as the surviving company and JP Tonami Group Co., Ltd. as the non-surviving company, and changed its trade name to JP Tonami Group Co., Ltd.