TOKYO—NTT Corporation, the largest telecommunications carrier in Japan, announced that the carrier’s loss after tax for fiscal 2001, ending March 2002, was 812.1 billion yen (US$6.3 billion). It became Japan’s largest net loss in history exceeding that of Nissan in 2000.
The carrier attributed the huge loss to NTT DoCoMo’s and NTT Communication’s appraisal losses from their overseas investments.
NTT’s operating profits for the fiscal year expanded by 5.5 percent to 947.3 billion yen (US$7.4 billion) partly due to NTT DoCoMo’s big earnings from NTT DoCoMo’s core business of i-mode. On the other hand, NTT East shrank its profit by 87 percent to 4.5 billion yen (US$35.1 million) and NTT West ran a 166.7 billion yen (US$1.3 billion) loss.
NTT DoCoMo ran the largest loss of 812.8 billion yen due to appraisal losses from its foreign investments, including U.S.-based AT&T Wireless Services.
However, for fiscal year 2002, NTT Corporation is expecting to have 1.1 trillion yen (US$8.6 billion) in profit and 361 billion yen (US$2.8 billion) in net profits.
