ID :
61981
Sat, 05/23/2009 - 08:36
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https://oananews.org//node/61981
The shortlink copeid
Japan Post Holdings reports 422.79 bil. yen net profit for FY 2008
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TOKYO, May 22 Kyodo -
Japan Post Holdings Co. said Friday it booked a consolidated net profit of
422.79 billion yen in fiscal 2008 ended in March, the first full business year
of its 10-year privatization process that began in October 2007.
Its profit is the second largest for the year among companies in Japan after
Nippon Telegraph and Telephone Corp., which posted a group net profit of 538.68
billion yen.
Japan Post Holdings recorded a net profit of 277.29 billion yen in its first
six months through March 2008.
More than half of the fiscal 2008 net profit came from Japan Post Bank, which
contributed 229.3 billion yen.
Japan Post Holdings also said its pretax profit in the reporting year came to
830.57 billion yen on operating revenues of 19.96 trillion yen.
Despite the deepening recession amid the global financial crisis, Japan Post
Holdings achieved solid earnings in fiscal 2008 as a downward trend in deposits
at Japan Post Bank came to a halt while Japan Post Insurance Co. began to
increase insurance contracts, officials said.
For the current fiscal year to March 31, 2010, Japan Post Holdings anticipates
a 5.4 percent fall in net profit to 400 billion yen due to high costs for
upgrading the computer system of Japan Post Network Co.
Meanwhile, Yoshifumi Nishikawa, president of Japan Post Holdings, expressed his
determination Friday to remain in his post despite Internal Affairs and
Communications Minister Kunio Hatoyama's opposition.
''I cannot give up my duty before fulfilling it,'' Nishikawa told reporters.
He said he would like to stay on until either the listing of Japan Post
Holdings and its banking and insurance units, possibly in fiscal 2010, or the
completion of preparations for their listings.
Since opposing Japan Post Holdings' controversial deal to sell its nationwide
resort inn network to leasing company Orix Corp., Hatoyama has persisted in
saying that he would not allow Nishikawa to remain in his post.
Chief Cabinet Secretary Takeo Kawamura said separately that the Cabinet as a
whole would ''eventually'' decide whether Nishikawa should continue at the helm
of Japan Post Holdings.
==Kyodo
TOKYO, May 22 Kyodo -
Japan Post Holdings Co. said Friday it booked a consolidated net profit of
422.79 billion yen in fiscal 2008 ended in March, the first full business year
of its 10-year privatization process that began in October 2007.
Its profit is the second largest for the year among companies in Japan after
Nippon Telegraph and Telephone Corp., which posted a group net profit of 538.68
billion yen.
Japan Post Holdings recorded a net profit of 277.29 billion yen in its first
six months through March 2008.
More than half of the fiscal 2008 net profit came from Japan Post Bank, which
contributed 229.3 billion yen.
Japan Post Holdings also said its pretax profit in the reporting year came to
830.57 billion yen on operating revenues of 19.96 trillion yen.
Despite the deepening recession amid the global financial crisis, Japan Post
Holdings achieved solid earnings in fiscal 2008 as a downward trend in deposits
at Japan Post Bank came to a halt while Japan Post Insurance Co. began to
increase insurance contracts, officials said.
For the current fiscal year to March 31, 2010, Japan Post Holdings anticipates
a 5.4 percent fall in net profit to 400 billion yen due to high costs for
upgrading the computer system of Japan Post Network Co.
Meanwhile, Yoshifumi Nishikawa, president of Japan Post Holdings, expressed his
determination Friday to remain in his post despite Internal Affairs and
Communications Minister Kunio Hatoyama's opposition.
''I cannot give up my duty before fulfilling it,'' Nishikawa told reporters.
He said he would like to stay on until either the listing of Japan Post
Holdings and its banking and insurance units, possibly in fiscal 2010, or the
completion of preparations for their listings.
Since opposing Japan Post Holdings' controversial deal to sell its nationwide
resort inn network to leasing company Orix Corp., Hatoyama has persisted in
saying that he would not allow Nishikawa to remain in his post.
Chief Cabinet Secretary Takeo Kawamura said separately that the Cabinet as a
whole would ''eventually'' decide whether Nishikawa should continue at the helm
of Japan Post Holdings.
==Kyodo
