KDDI shares slip as EBIT forecast is lowered

14 Apr 2008

Shares of KDDI fell by more than 6% in early trade today after the company cut its preliminary estimate of operating profit for the year ended 31 March 2008 to JPY400 billion (USD3.9 billion), slightly down from a forecast in January of JPY414 billion. The company blamed higher than expected sales costs and a larger than expected rise in the number of lower revenue-generating subscribers to its mobile phone service.

Japan, KDDI (au)