Morningstar - NTT DoCoMo Inc. (9437) A cost focus is driving NTT DoCoMos earnings and cash flow growth.

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Morningstar

Dan Baker

EUR 101.80 For Business Accounts Only

A cost focus is driving NTT DoCoMo's earnings and cash flow growth.

NTT DoCoMoâ€™s fiscal 2016 (year ending March 2017) result was broadly in line with our expectations with operating revenue of JPY 4,585 billion up 1.3% year over year and operating profit of JPY 945 billion up 21% year over year. The operating income growth would have been around 10% excluding the impact of a change in depreciation accounting. The company has guided to fiscal 2017 operating revenue of JPY 4,750 billion and operating income of JPY 960 billion, which is lower than both our forecast...

20/06/2017 12 EN

Underlying

NTT DoCoMo Inc.

NTT DOCOMO is a mobile telecommunications carrier. Co. has three operating segments. The telecommunications segment includes mobile phone services (LTE(Xi) services and FOMA services), optical-fiber broadband service, satellite mobile communications services, international services and the equipment sales related to these services. The smart life segment includes video and music distribution, electronic books and other services offered through DOCOMO's "dmarket" portal, as well as finance/payment services, shopping services and various other services. The others segment primarily includes "Mobile Device Protection Service," as well as development, sales and maintenance of IT systems.

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JP3165650007 Japan

Provider

Morningstar

Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.

Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.

We have operations in 27 countries.

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Analysts

Dan Baker

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A cost focus is driving NTT DoCoMo's earnings and cash flow growth.

Takeaways from Meetings with the Japanese Telcos + Rakuten in Tokyo. Downgrade SoftBank to Neutral, stay Buyers of NTT and KDDI.

Japanese Telcos Q3 FY24 review: Diverging expectations; NTT still preferred

Asia Telco Tour Feedback, Improving growth, ROCE and shareholder remuneration

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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