Worth reading
79Important
Scored from 4 of 5 sectionsDirection
Mixed performance
Direction inferred from the company’s description.Scale
7000
¥100 million (upper end of the fiscal 2028 target for net income attributable to owners of the parent)Wording
Avoiding a definitive answer
How definitive the wording is.Items stated in the management plan
FormulatedNet income for the current fiscal year-65.4%
基準 2,025Target700million
ROE-2,018.0pt
基準 2,025Target7％
Each line is the climb from the baseline the document states to the target it sets. The slope is scaled against the largest climb in this document. For metrics expressed as percentages, differences are shown in percentage points (pt).The increase shown by the dotted line is calculated from the two reported figures because the company did not provide the amount of growth.
What happened to the previous planROE of 4% or higher, consolidated net income of ¥570 billion, and consolidated net income attributable to owners of the parent of ¥360 billion → ROE of 4.5%, consolidated net income of ¥743.4 billion, and consolidated net income attributable to owners of the parent of ¥374.5 billion (fiscal 2025 actual)+255.3%Calculated from the two disclosed figures
Statements about the use of capital
Payout ratio / DOE policyCumulative total payout ratio of at least 50% over the 3-year medium-term management plan period, a DPS floor of ¥60, and the introduction of progressive dividendsThe payout ratio is the proportion of profit paid out as dividends, while DOE is the ratio of dividends to net assets.
Key initiatives
01Review of the business structure to ensure the sustainable provision of universal services
02Enhancement of corporate value through profit growth in growth areas
03Strengthening the Group's Management Foundation
04Structural reform of the Postal and Logistics Business
05Structural reform of the Post Office Counter Services Business
06Growth in profits from the financial businesses
07Establishing the Real Estate Business as a new earnings pillar
08Transformation into an integrated logistics company
09Strengthening the management platform
10Capital Policy
Plan assumptionsThe interest rates, foreign exchange rates and share prices underlying the targets were set based on conditions as of the end of March 2026 for the banking and life insurance businesses, and as of the end of December 2025 for the other businesses. The ranges shown for profit and other figures reflect the assumption that postal rates will not be revised.
Segment targetSegment Postal and Logistics Business / Timing FY2028 / Operating profit Loss of ¥173 billion to profit of ¥23 billion, Segment Post Office Counter Services Business / Timing FY2028 / Operating profit ¥2 billion, Segment International Logistics Business / Timing FY2028 / Operating profit ¥16 billion / ROA 3.5％, Segment Real Estate Business / Timing FY2028 / Business profit ¥28 billion / ROA 2.6％, Segment Banking Business (Japan Post Bank) / Timing FY2028 / Net income for the current fiscal year Above ¥1 trillion / ROE (Equity-Based) Approximately 10%, Segment Life Insurance Business (Japan Post Insurance) / Timing FY2028 / Adjusted profit ¥190 billion / Adjusted ROE Approximately 10%
Non-financial targetsIndicator Support for Balancing Childcare and Work / Target 100% parental leave uptake for both men and women; average parental leave period of at least 1 month for men / Timing FY2028, Indicator Employee engagement score / Target Group-wide: B / Timing FY2028, Indicator Percentage of Women in Management Positions (Group-wide) / Target Japan Post Holdings and Japan Post: 14.0%; Japan Post Bank: 25.0%; Japan Post Insurance: 16.5% / Timing As of 1 April 2031, Indicator Greenhouse Gas (GHG) Emissions Reduction / Target 46% reduction from fiscal 2019 / Timing FY2030, Indicator Carbon Neutrality / Target Carbon Neutrality / Timing 2050
Risks identified by the company
Growing geopolitical risks
Contraction of the domestic market due to population decline
Persistent inflation and deterioration in the country’s fiscal position
Increased volatility in financial markets
Accelerating decline in demand for postal services
Contraction of the domestic financial products and insurance markets
Increasing difficulty in maintaining regional infrastructure
Future labor force decline due to increasing difficulty in securing personnel
Keeping pace with advances in AI, robotics, fintech and other technologies
Progress in digitalization
| Item | Details |
|---|---|
| Plan name | JP Plan 2028 |
| Plan period | Fiscal 2026 through fiscal 2028 |
| Progress against the plan | Formulated |
| Net income target | ¥374.5 billion (fiscal 2025 actual; previous plan target: ¥360 billion) → ¥500 billion to above ¥700 billion |
| ROE target | 4.5% (fiscal 2025 actual; previous plan target: 4% or higher) → 5% to above 7% |
| Payout ratio / DOE policy | Cumulative total payout ratio of at least 50% over the 3-year medium-term management plan period, a DPS floor of ¥60, and the introduction of progressive dividends |
| Segment target | Segment Postal and Logistics Business / Timing FY2028 / Operating profit Loss of ¥173 billion to profit of ¥23 billion, Segment Post Office Counter Services Business / Timing FY2028 / Operating profit ¥2 billion, Segment International Logistics Business / Timing FY2028 / Operating profit ¥16 billion / ROA 3.5％, Segment Real Estate Business / Timing FY2028 / Business profit ¥28 billion / ROA 2.6％, Segment Banking Business (Japan Post Bank) / Timing FY2028 / Net income for the current fiscal year Above ¥1 trillion / ROE (Equity-Based) Approximately 10%, Segment Life Insurance Business (Japan Post Insurance) / Timing FY2028 / Adjusted profit ¥190 billion / Adjusted ROE Approximately 10% |
| Non-financial targets | Indicator Support for Balancing Childcare and Work / Target 100% parental leave uptake for both men and women; average parental leave period of at least 1 month for men / Timing FY2028, Indicator Employee engagement score / Target Group-wide: B / Timing FY2028, Indicator Percentage of Women in Management Positions (Group-wide) / Target Japan Post Holdings and Japan Post: 14.0%; Japan Post Bank: 25.0%; Japan Post Insurance: 16.5% / Timing As of 1 April 2031, Indicator Greenhouse Gas (GHG) Emissions Reduction / Target 46% reduction from fiscal 2019 / Timing FY2030, Indicator Carbon Neutrality / Target Carbon Neutrality / Timing 2050 |
| Plan assumptions | The interest rates, foreign exchange rates and share prices underlying the targets were set based on conditions as of the end of March 2026 for the banking and life insurance businesses, and as of the end of December 2025 for the other businesses. The ranges shown for profit and other figures reflect the assumption that postal rates will not be revised. |
| Key initiatives | Review of the business structure to ensure the sustainable provision of universal services, Enhancement of corporate value through profit growth in growth areas, Strengthening the Group's Management Foundation, Structural reform of the Postal and Logistics Business, Structural reform of the Post Office Counter Services Business, Growth in profits from the financial businesses, Establishing the Real Estate Business as a new earnings pillar, Transformation into an integrated logistics company, Strengthening the management platform, Capital Policy |
| Results under the previous plan | ROE of 4% or higher, consolidated net income of ¥570 billion, and consolidated net income attributable to owners of the parent of ¥360 billion → ROE of 4.5%, consolidated net income of ¥743.4 billion, and consolidated net income attributable to owners of the parent of ¥374.5 billion (fiscal 2025 actual) |
| Risks identified | Growing geopolitical risks, Contraction of the domestic market due to population decline, Persistent inflation and deterioration in the country’s fiscal position, Increased volatility in financial markets, Accelerating decline in demand for postal services, Contraction of the domestic financial products and insurance markets, Increasing difficulty in maintaining regional infrastructure, Future labor force decline due to increasing difficulty in securing personnel, Keeping pace with advances in AI, robotics, fintech and other technologies, Progress in digitalization |
| Publication date | 15 May 2026 |
Items this document does not state (12)
Sales TargetOperating profit targetOperating profit margin targetROIC targetTreasury share acquisition policyCost of capitalSelf-assessment of PBR and share priceTotal investment planInvestment amount by sectorReason for revision or withdrawalSize of the Target MarketDate of board resolution
These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.
The reasons the company gives
The company's own explanation, not something inferred from the numbers.The business environment is expected to change substantially over the next 10 to 15 years as a result of population decline, population aging and the continuing shift to digital services. This is expected to lead to declining mail volumes and customer visits to post office counters, as well as higher operating costs, while making it necessary to develop and expand new growth areas. In light of these factors, the Group aims to ensure the sustainability of universal services while achieving growth in new business areas and other fields.
How to read this page
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Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.