TOKYO May 15 Japan Post Holdings Co
said on Monday it expects to post a profit this fiscal year,
emboldening its plan to continue growing through acquisitions
despite last year's loss from a massive writedown on its
Australian logistics unit.
Japan Post, 80 percent state-owned, said it saw a profit at
400 billion yen ($3.5 billion) in the year to March 2018, above
an average forecast for a 373 billion yen profit from eight
analysts surveyed by Thomson Reuters.
In the previous fiscal year, Japan Post said it lost 29
billion yen after a 400 billion yen impairment charge at Toll
Holdings. That was lower than an initial estimate of a 40
billion yen loss announced last month.
Japan Post is considering buying Nomura Real Estate Holdings
in a bid to make real estate operations its new
earnings pillar, a source familiar with the matter told Reuters
In response to the media reports, Japan Post said: "We are
exploring various possibilities regarding new capital and
business alliances and will make an announcement promptly once
matters that should be made public are finalised."
($1 = 113.6800 yen)
(Reporting by Thomas Wilson; Editing by Randy Fabi)