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NTT DoCoMo's Net Profit Plunges
Posted: 08-May-2002 [Source: Wall Street Journal Online via Yahoo]

[DoCoMo's fiscal year ends with hefty cuts in their profit margin due to overseas investments.]

Tokyo -- "NTT DoCoMo Inc. said Wednesday its net profit totaled 862 million yen ($6.7 million) in the fiscal year ended March 31, a tiny fraction of 365 billion yen a year ago and the lowest ever for the company since its Tokyo listing in 1998.

After years of hefty profits boosted by Japan 's cellphone boom, NTT DoCoMo saw its earnings dwindle in the latest fiscal year on huge losses booked on overseas investments.

The plunge largely came from a 813 billion yen special loss for write-downs taken on the plunging value of stakes in NTT DoCoMo's foreign partners. NTT DoCoMo, the mobile -phone subsidiary of Japan 's telecom giant Nippon Telegraph & Telephone Corp. (NTT), has a 16% stake in AT&T Wireless Services Inc. (AWE) in the U.S., a 15% stake in KPN Mobile NV in the Netherlands and 20% in Hutchison 3G UK Holdings Ltd. It also has a 25% stake in Hutchison Telephone Co . Ltd. in Hong Kong and a 21% stake in KG Telecommunications Co. in Taiwan."

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