Earnings quality
Compare earnings and operating cash flow for earnings quality.
Japan Post Holdings Co., Ltd.
Ticker 6178 · 🇯🇵 Japan · Consolidated IFRS · amounts in yen
Filed 2026-06-18 · Period end 2026-03-31
Takeaway
Dig deeperThe numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
Compare earnings and operating cash flow for earnings quality.
Mixed signals — use cash flow and the balance sheet before treating the year as clean.
ActionDig deeper
OP margin—
Equity ratio—
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
日本郵政株式会社 is a Japanese listed company. Its reportable segments include Banking Business, International Logistics Businesses, Life Insurance Business, Postal And Logistics Businesses.
- Banking Business
- International Logistics Businesses
- Life Insurance Business
- Postal And Logistics Businesses
- Post Office Business
- Real Estate Business
- Operating Segments Not Included In
- Total Of
Segments Banking Business · International Logistics Businesses · Life Insurance Business · Postal And Logistics Businesses · Post Office Business · Real Estate Business
Compare trends
Tel 03-3477-0111 · As of filing date 2026-06-18
Financial statements
Income statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Revenue | — | — |
| Cost of sales* | — | — |
| Gross profit | — | — |
| Operating profit (loss) | — | — |
| Finance income | — | — |
| Finance costs | — | — |
| Income tax expense | ¥163.5B | ¥300.1B |
| Profit (loss) | ¥599.4B | ¥743.5B |
| Profit (loss) attributable to owners | ¥370.6B | ¥374.6B |
| Basic EPS (¥) | — | — |
Balance sheet
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash and cash equivalents | ¥67.2T | ¥56.9T |
| Current assets | — | — |
| Non-current assets | — | — |
| Total assets | ¥297.1T | ¥289.9T |
| Short-term borrowings | — | — |
| Current liabilities | — | — |
| Non-current liabilities* | — | — |
| Total liabilities | ¥281.9T | ¥273.4T |
| Equity attributable to owners | — | — |
| Total equity | — | — |
Cash flow statement
| Account | FY2025 (ended Mar 31, 2025) | FY2026 (ended Mar 31, 2026) |
|---|---|---|
| Cash flows from operating activities | ¥2.8T | -¥10.3T |
| Cash flows from investing activities | — | — |
| Cash flows from financing activities | ¥215.9B | -¥622.9B |
| Net increase (decrease) in cash | ¥7.7T | -¥10.3T |
| Cash at end of period | ¥67.2T | ¥56.9T |
Five-year trends
Key metrics
| Metric | Trend | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|
| Operating profit | ¥991.5B | ¥657.7B | ¥668.3B | ¥814.6B | ¥1.1T | |
| Profit to owners | — | — | — | ¥370.6B | ¥374.6B | |
| Total assets | ¥303.8T | ¥296.1T | ¥298.7T | ¥297.1T | ¥289.9T | |
| Cash & equivalents | — | — | ¥59.5T | ¥67.2T | ¥56.9T | |
| Owners’ equity | ¥14.7T | ¥15.1T | ¥15.7T | ¥15.3T | ¥16.5T |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Mixed
The numbers send mixed signals — dig into cash flow and leverage before drawing a conclusion.
On the income statement, revenue moved from — to — (—), so the top line did not break. Gross profit only slipped from — to —, while operating profit swung from — to — — the damage is concentrated below gross profit.
Cash tells a different story than earnings. Operating cash flow was still -¥10.3T (prior ¥2.8T), and cash on the balance sheet rose to ¥56.9T from ¥67.2T. When profits collapse but operating cash stays positive, read the notes for impairments and other non-cash charges before assuming the business stopped generating cash.
Goodwill on the balance sheet fell from ¥3.0B to ¥2.2B, consistent with heavy write-downs of past acquisitions’ carrying values.
The balance sheet got heavier on leverage. Total liabilities rose to ¥273.4T while owners’ equity fell to —. ROE moved from 3.8% to 4.0%, and the equity ratio from 3.1% to 3.4%. Employee count is 224,438 vs 218,718 a year earlier.
Liquidity & leverage
Short-term borrowing levels look more stable year over year.
Capital buffer
Capital structure held relatively steady.
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Source: EDINET S100YE7T
(日本郵政株式会社), period end 2026-03-31.