Tax write-down hits NTT profit

7 Feb 2012

The Japanese telecoms group NTT has reported a 56% year-on-year drop in profit for the three months ended 31 December 2011 to JPY62.76 billion (USD819.3 million). The fall in profit was due to a write-down of the value of deferred tax assets. Sales for the period were up 3.2% y-o-y at JPY2.63 trillion, while operating profit dropped 4.3% to JPY323.9 billion.

The NTT Group’s fixed line regional operating units NTT East and NTT West claimed 28.21 million fixed line customers between them at the end of December, down by over two million since the start of the company’s financial year on 1 April 2011. Wireless division NTT DoCoMo, meanwhile, added more than 1.6 million mobile subscribers in the same period to take its total base to 59.62 million. There were 18.76 million fixed broadband subscribers at end-2011, up from 17.92 million on 31 March 2011.

Japan, Nippon Telegraph and Telephone Corporation (NTT Corp), NTT (NTT East & NTT West), NTT Communications, NTT DOCOMO, NTT East, NTT West