NTT revises full-year outlook on JPY299bn DOCOMO share repurchase

8 Sep 2014

Japanese telecoms giant Nippon Telegraph and Telephone (NTT) has reportedly revised its full-year outlook in the wake of a decision by its subsidiary, NTT DOCOMO, to buy back shares in the parent company. In the transaction, DOCOMO repurchased 177 million shares in NTT resulting in a one-off gain of JPY299 billion (USD2.8 billion), prompting it to revise its FY2014/15 net profit forecast up to JPY577 billion from JPY274 billion, although operating profit is expected to be down marginally, at JPY272 billion, as a result of a lower dividend at the mobile division due to the lower number of shares held, says Telecompaper without citing its sources.