Breaking even: Japan Post financial units pick up slack for ailing postal arm

TOKYO — Japan Post Holdings’ banking and insurance units reported profit growth for the fiscal year ended March, even as its mail delivery business stumbled on rising costs.

Japan Post Holdings’ net profit inched up 1% to 482.6 billion yen ($4 billion) for the term ended March 31. But at mail subsidiary Japan Post Co., net profit fell by half, with its postal and parcels operation suffering its first operating loss in three years.

Source: Breaking even: Japan Post financial units pick up slack for ailing postal arm- Nikkei Asian Review