TOKYO (dpa-AFX) - Japan Post Insurance Co., Ltd. (JPPIF.PK) Friday reported profit before taxes of 47.720 billion yen for the first quarter, higher than 29.603 billion yen in the same quarter a year ago, primarily due to a gain of 16.740 billion from reversal of reserve for price fluctuations.
Net income increased to 34.650 billion yen or 93.18 yen per basic share from 20.948 billion yen or 54.73 yen per basic share last year.
Ordinary income declined to 1,434.125 billion yen from 1,465.428 billion yen in the previous year.
For the full year, the company expects ordinary income to increase 8.5% year-on-year to 5,640 billion yen. Net income is expected to increase 10.1% to 136 billion yen with EPS of 366.05 yen.
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