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August 4, 2009

NTT reports 20% dip in Q1 profit

Revenue down 3.5% to ¥2.502 trillion

By CBR Staff Writer

Nippon Telegraph & Telephone Corp (NTT) has reported 20.5% drop in its net profit for the first quarter of 2009, compared to the same period previous year, due to lower earnings from its mobile phone unit.

For the quarter ended June 30, 2009, the company posted a net income of ¥139.6 billion, down from ¥175.5 billion in the same period previous year.

The Japanese telecommunication carrier has reported revenue of ¥2.502 trillion, down 3.5% compared to revenue of ¥2.593 trillion in the same period an year-ago. Operating profit dropped 12% to ¥325.8 billion for the first quarter of 2009, from ¥372.1 billion for the same period in 2008.

NTT DoCoMo, in which NTT holds 63% stake, has reported a 15% drop in its net income to ¥147.4 billion. Its mobile phone sales declined by 12%, in terms of volume. Its operating profit fell 15% to ¥251.8 billion and revenue decreased by 7.3% to ¥1.08 trillion.

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NTT has not changed its forecast for the full year through March. It expects a net profit of ¥460 billion, operating income of ¥1.11 trillion and revenue of ¥10.3 trillion.

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