Japan’s Nippon Telegraph & Telephone Corp (NTT) has reported an 8.2% dip in net profits for the full year to 31 March 2012 to JPY467.70 billion (USD5.85 billion), down from JPY509.63 in fiscal 2010/11, mainly attributed to changes in Japan’s corporate tax rules. The carrier said its full-year operating profit inched up 0.7% year-on-year to JPY1.223 trillion on revenues that climbed 2.0% to JPY10.507 trillion.
In its fiscal fourth-quarter, NTT reported a doubling in net profit compared to the year-earlier period when its business was severely impacted by the aftermath of Japan’s devastating earthquake and tsunami. The operator booked quarterly net income of JPY108.50 billion for the period under review, compared to JPY51.30 billion in January-March 2011. Fourth-quarter operating profit increased by 42.8% y-o-y to JPY213.54 billion from JPY149.59 billion, although revenue dipped 1.4% to JPY2.72 trillion. The quake struck Japan on 11 March, following which NTT announced that earthquake and tsunami-related damage had cost it in the region of JPY28.2 billion.
For its current financial year to 31 March 2013, NTT is forecasting a 22.9% increase in net income to JPY575 billion, a 4.7% rise in operating profit to JPY1.28 trillion and 2.3% growth in revenue to JPY10.75 trillion.