Q1 profit falls 4.4% for NTT

4 Aug 2005

NTT has revealed that its profit slipped 4.4% for the fiscal first quarter ending 30 June. Net income fell from JPY185.8 billion to JPY177.6 billion (USD1.59 billion) in a year, while sales dropped 2% to JPY2.6 trillion (USD23.2 billion). NTT said that the poor results were partly down to a 2.8% fall in revenues at its mobile unit DoCoMo to JPY1.19 trillion (USD10.6 billion), which reported increased competition from its rivals au Corp and Vodafone KK. Fixed line operating profit also dropped 15% to JPY67.2 billion (USD600 million), while wireline subscribers fell by 719,000 to 49.6 million during the quarter. NTT expects to lose 4.17 million fixed line subscribers over the entire year.