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UPDATE1: NTT logs 10% fall in 1st-half net profit, cuts forecast(Japan Economic Newswire Via Acquire Media NewsEdge) Nippon Telegraph and Telephone Corp. said Friday its group net profit dropped 10.3 percent from a year earlier in the April to September period of fiscal 2014 to 290.33 billion yen, dragged down by slack mobile phone business. NTT, which oversees its mobile phone operation unit NTT Docomo Inc. and other telecom group companies, posted group sales of 5.37 trillion yen, up 2.0 percent. Consolidated operating profit sagged 9.5 percent to 590.92 billion in the six-month period. For the full business year ending next March, NTT cut its group net profit outlook to 529 billion yen, down 9.6 percent from a year before, from the initial estimate of 586 billion yen and slashed its operating profit projection from 1.22 trillion to 1.10 trillion yen, down 9.8 percent. Full-year sales are expected at 11.01 trillion yen, down 0.8 percent, compared with its previous forecast of 11.20 trillion yen. The NTT earnings results reflect a 13.6 percent fall in NTT Docomo's group net profit to 259.52 billion in the April-September period reported last week. The mobile phone unit was hit by lower revenue from its voice communication services amid intense competition with Softbank Corp. and KDDI Corp. Docomo's group operating profit declined 15.5 percent to 399.59 billion yen and sales fell 1.2 percent to 2.17 trillion yen in the six-month period through the end of September. ==Kyodo |