Japan Post : Notice Regarding a Reversal of Loss on Valuation of Shares of Subsidiaries and Affiliates in the Non-consolidated Financial Results

UNOFFICIAL TRANSLATION

Although the Company pays close attention to provide English translation of the information disclosed in Japanese, the Japanese original prevails over its English translation in the case of any discrepancy.

	December 30, 2020
Company name:	Japan Post Holdings Co., Ltd.
Representative:	MASUDA Hiroya
	Director and Representative Executive
	Officer, President & CEO
	(Code number: 6178, First Section of
	the Tokyo Stock Exchange)
Contact:	IR Office (Phone: [phone])

Notice Regarding a Reversal of Loss on Valuation of Shares of Subsidiaries and

Affiliates in the Non-consolidated Financial Results

JAPAN POST HOLDINGS Co., Ltd. (the "Company"), hereby announces that it has recorded a reversal of loss on valuation of shares of subsidiaries and affiliates in the non- consolidated financial results for the third quarter ending December 31, 2020. The accounting treatment came after the Company recorded a loss on valuation of shares of subsidiaries and affiliates (extraordinary loss) in the non-consolidated financial results for the second quarter ended September 30, 2020, due to an impairment of the shares held by the Company in JAPAN POST BANK Co., Ltd., a consolidated subsidiary of the Company.

The Company applies the reversal method to account for impairment of securities at the end of each fiscal quarter, and the amount to be recorded as an extraordinary loss for the fiscal year ending March 31, 2021, may therefore fluctuate from the amount shown below.

1. Loss on valuation of shares of subsidiaries and affiliates relating to the shares of JAPAN POST BANK Co., Ltd. recorded in the Company's non-consolidated financial results for the third quarter ending December 31, 2020

		Amount
Amount of loss on valuation of shares of subsidiaries and	¥(86,762) Million
affiliates relating to the shares of JAPAN POST BANK Co.,	(The figure in round
Ltd. recorded for the third quarter ending December 31, 2020	brackets represents a
(October 1, 2020 to December 31, 2020) (=A-B)	reversal of loss)
	(A) Amount of loss on valuation of shares of subsidiaries
	and affiliates relating to the shares of JAPAN POST	¥2,953,674 million
	BANK Co., Ltd. recorded for the nine months ending
	December 31, 2020 (April 1, 2020 to December 31, 2020)
	(B) Amount of loss on valuation of shares of subsidiaries
	and affiliates relating to the shares of JAPAN POST
	BANK Co., Ltd. recorded for the six months ended	¥3,040,437 million
	September 30, 2020 (April 1, 2020 to September 30,
	2020)

2. Effect on the consolidated financial results and future outlook

This loss on valuation of shares of subsidiaries and affiliates will be eliminated in

consolidation, and will have no effect on the Company's consolidated financial results.

In addition, currently, the consolidated financial results forecast and dividends forecast for the fiscal year ending March 31, 2021 remain unchanged from the year forecast and dividends forecast announced on November 13, 2020.