DoCoMo share sale helps to boost NTT profits

10 Nov 2004

Japanese giant Nippon Telegraph and Telephone Corp (NTT) has reported a profit of JPY344.6 billion (USD3.26 billion) for the fiscal first half of the year, up from JPY334.3 billion at the same time in 2003. The telco attributed the rise to a JPY319.1 billion gain from a share sale in its mobile unit NTT DoCoMo earlier in the year; the operator cut its share in DoCoMo from 63.6% to 62.4%. Sales for the six-month period fell by 1.7% to JPY5.32 trillion. NTT said it expected its full year profit to reach JPY670 billion. It plans to invest JPY5 trillion in its fixed line operations by 2010 with the aim of signing up 30 million fibre-optic customers.

Japan, NTT (NTT East & NTT West)