Japan Post Q1 profit up 26% at 104.5b yen

Tokyo

JAPAN Post Holdings Co Ltd on Thursday reported a 25.7 per cent increase in quarterly profit, as gains from foreign exchange trading at its banking unit offset declining interest on its huge holdings of Japanese government bonds.

Japan Post posted a net profit of 104.5 billion yen (S$1.3 billion) for the three months through June, versus 83.13 billion yen a year earlier.