TOKYO, April 22 Japan Post Holdings Co
is considering writing down as much as 400 billion yen ($3.7
billion) in the year ended March 31 on goodwill from its
acquisition of an Australian logistics unit Toll Holdings, the
Nikkei business daily reported on Saturday.
Japan Post's group net profit for the year just ended is
estimated at 320 billion yen, and logging a loss of up to 400
billion yen could lead to its first net loss since Japan began
privatising the postal system, the daily said.
Japan Post, a conglomerate that spans postal delivery,
banking and insurance, made an unprecedented three-way initial
public offering in November 2015.
The company said on Thursday it is considering whether it
needs to book an impairment loss related to Toll Holdings, which
it acquired in 2015 for 620 billion yen.
The Nikkei Business magazine reported earlier this week that
Japan Post was considering posting a massive impairment loss
because the acquisition had not created synergies and Toll's
earnings had been hurt by an economic slowdown.
($1 = 109.0700 yen)
(Reporting by Yuka Obayashi; Editing by Jacqueline Wong)