Japan's NTT posts big profit despite recession

TOKYO: Japanese telecom giant NTT said on Wednesday it made a net profit of 538.7 billion yen (5.6 billion dollars) in the year to March as its business remained relatively resilient during the recession.

Nippon Telegraph and Telecom Corp. said its earnings fell 15.2 percent but it still logged the biggest profit announced by any Japanese company so far for the year.

Japan's top telecommunications company said operating profit dropped 14.9 percent to 1.11 trillion yen as revenue fell 2.5 percent to 10.42 trillion.

Its mobile telephone operator, DoCoMo, posted revenue of 4.45 trillion yen, down 5.6 percent from the previous year as growing price competition offset the benefits of a rise in subscriber levels.

For the current fiscal year to March, NTT expects a net profit of 460 billion yen, an operating profit of 1.11 trillion yen and revenue of 10.3 trillion yen.