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DDI CORP REPORTS NET LOSS FOR YEAR

DDI Corp, Japan’s second largest phone company, reported a net loss of $225.1m for the year ended in March, on group revenues up 52% at $8.62bn, compared to net income of $36.2m a year ago. The loss was blamed on rate cuts, promotion expenses and overall poor performance of its mobile phone business. The company is predicting group sales will rise 18% this year to $10.35bn.

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CBR Staff Writer

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