NTT Com Posts Annual Net Income of 13.6 Billion Yen
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| NTT Communications (NTT Com) on May 13 announced non-consolidated net income of 13.6 billion yen (US$113 million) for the fiscal year ended March 31, 2003. The figure represented a huge increase over the net loss of 410.7 billion yen reported a year earlier when a large extraordinary loss was booked for the revaluation of overseas investments. Operating revenue came to 1,152.0 billion yen (US$9.6 billion), down 9.7%. Data- and IP-service revenue surpassed voice-service revenue for the first time in NTT Com's history. The margin was about 10%, compared with parity last year. The company's OCN-brand Internet access service saw its subscriber base grow to approximately 3.5 million users. Revenue rose more than 15% to 117.4 billion yen. As a result of such successes, NTT Com reached its goal of becoming a true "Global IP Company," offering secure, high-quality services for global Internet solutions. Near the end of the fiscal year, NTT Com announced it is now striving to transform itself into a "Global IP Solution Company." The new strategy establishes solutions, network management, security and global services as the firm's core businesses. |