Mobile and internet gains send NTT’s profits through the roof

11 Nov 2003

Japan’s Nippon Telegraph & Telephone Corp (NTT) reported a ten-fold rise in profits for the first half of its fiscal year to 30 September, thanks in the main to strong growth at its mobile unit NTT DoCoMo and better than expected take-up of high speed internet access services. Group net income reached JPY386.6 billion (USD3.53 billion), compared with JPY33.2 billion for the same period in 2002, while turnover rose by 0.8% to JPY5.41 trillion. As a result of the encouraging performance, NTT has raised its full-year earnings forecast and now expects net income to reach JPY582 billion on turnover of JPY11.04 trillion, up from the JPY453 billion guidance given in May this year.