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Japan Post Insurance fiscal Q1 income drops 0.9% YOY

Japan Post Insurance Co. Ltd.'s net income attributable to the company for the fiscal quarter ended June 30 fell 0.9% to ¥33.78 billion from ¥34.09 billion a year earlier.

Net income per share increased year over year to ¥59.59 from ¥56.83. The company did not provide figures for diluted net income per share.

Ordinary profit dropped 25.6% to ¥56.00 billion from ¥75.25 billion. Ordinary income fell 8.1% to ¥1.819 trillion from ¥1.979 trillion.

Insurance premiums and others fell to ¥935.88 billion from ¥1.015 trillion. Meanwhile, investment income decreased to ¥276.92 billion from ¥307.61 billion. The company's extraordinary losses amounted to ¥5 million, versus ¥330 million a year ago.

Japan Post Insurance said the impact of measures related to the mismanagement of certain insurance policies were not reflected in its results for the first quarter of the fiscal year ending March 31, 2020, and the quarter ended June 30. However, such impact may materialize in future financial periods depending on the progress in the implementation of these measures, it added.

As of Aug. 8, US$1 was equivalent to ¥106.13.