reports
- Dan Baker
Morningstar | NTT DoCoMo Price Cuts and Guidance Broadly in Line with ...
NTT DoCoMo’s fourth-quarter fiscal 2018 (quarter-ending March 2019) result was in line with our expectations as competitive intensity seems to be building ahead of Rakuten’s entry into the market in 2019. Fourth-quarter preimpairment loss operating income was up 1.3% compared with the 4.8% rise for the full year. Company guidance for the current financial year and the details of NTT DoCoMo’s medium-term mobile rate plan were broadly in line with our previous expectations. We make slight re...
- Dan Baker
NTT DoCoMo Price Cuts and Guidance Broadly in Line with Estimates
NTT DoCoMo’s fourth-quarter fiscal 2018 (quarter-ending March 2019) result was in line with our expectations as competitive intensity seems to be building ahead of Rakuten’s entry into the market in 2019. Fourth-quarter preimpairment loss operating income was up 1.3% compared with the 4.8% rise for the full year. Company guidance for the current financial year and the details of NTT DoCoMo’s medium-term mobile rate plan were broadly in line with our previous expectations. We make slight re...
- Dan Baker
Morningstar | NTT DoCoMo Mulling Mobile Price Cuts
NTT DoCoMo is Japan's largest wireless telecom operator, and the firm has generally led the market in network features and upgrades. Its smaller wireless competitors, KDDI and SoftBank, took market share from NTT DoCoMo until 2016, but since then, NTT DoCoMo has reversed the trend and gained some market share, mainly from SoftBank. The Japanese telecom market has been a cozy oligopoly since new entrant, eMobile was taken over in 2011. However, this could be about to change through both a new ent...
- Dan Baker
NTT DoCoMo Mulling Mobile Price Cuts
NTT DoCoMo’s third-quarter 2018 (quarter-ending December 2018) result was below our expectations as competitive intensity seems to be building ahead of Rakuten’s entry into the market in 2019. The industry is also still awaiting the details of the NTT DoCoMo’s bombshell medium-term plan announced at the previous result involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to ...
- Dan Baker
Morningstar | Japanese Telecom Industry Still Waiting for NTT DoCoMo P...
NTT DoCoMo’s third-quarter 2018 (quarter-ending December 2018) result was below our expectations as competitive intensity seems to be building ahead of Rakuten’s entry into the market in 2019. The industry is also still awaiting the details of the NTT DoCoMo’s bombshell medium-term plan announced at the previous result involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to ...
- Dan Baker
Japanese Telecom Industry Still Waiting for NTT DoCoMo Price Cuts
NTT DoCoMo’s third-quarter 2018 (quarter-ending December 2018) result was below our expectations as competitive intensity seems to be building ahead of Rakuten’s entry into the market in 2019. The industry is also still awaiting the details of the NTT DoCoMo’s bombshell medium-term plan announced at the previous result involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to ...
- Dan Baker
Morningstar | Feedback from NTT DoCoMo Presentation at Morningstar Con...
At Morningstar's Management Behind the Moat Conference, NTT DoCoMo provided further details on the company’s medium-term plan announced at the recent second-quarter fiscal 2018 result. It also highlighted its planned 5G network deployment and some of the more interesting applications it is working on to run over the network. We make no changes to our fair value estimate of JPY 2,500 and USD 22 per ADS. Our narrow moat rating is retained given forecast returns remain above WACC. NTT DoCoMo’s ...
- Dan Baker
Feedback from NTT DoCoMo Presentation at Morningstar Conference
At Morningstar's Management Behind the Moat Conference, NTT DoCoMo provided further details on the company’s medium-term plan announced at the recent second-quarter fiscal 2018 result. It also highlighted its planned 5G network deployment and some of the more interesting applications it is working on to run over the network. We make no changes to our fair value estimate of JPY 2,500 and USD 22 per ADS. Our narrow moat rating is retained given forecast returns remain above WACC. NTT DoCoMo’s ...
- Dan Baker
Morningstar | NTT DoCoMo Foreshadows Price and Earnings Cuts; FVE Redu...
NTT DoCoMo’s second-quarter 2018 (quarter ending September 2018) result was in line with our expectations and puts the firm in a good position to achieve or beat its own full-year guidance. However, its medium-term plan involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to current levels by fiscal 2023 was a negative shock to us. Our fair value estimate is reduced to JPY 2,500...
- Dan Baker
Morningstar | NTT DoCoMo Foreshadows Price and Earnings Cuts; FVE Redu...
NTT DoCoMo’s second-quarter 2018 (quarter ending September 2018) result was in line with our expectations and puts the firm in a good position to achieve or beat its own full-year guidance. However, its medium-term plan involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to current levels by fiscal 2023 was a negative shock to us. Our fair value estimate is reduced to JPY 2,500...
- Dan Baker
NTT DoCoMo Foreshadows Price and Earnings Cuts; FVE Reduced to JPY 2,5...
NTT DoCoMo’s second-quarter 2018 (quarter ending September 2018) result was in line with our expectations and puts the firm in a good position to achieve or beat its own full-year guidance. However, its medium-term plan involving a review of mobile rate plans that will return up to JPY 400 billion to customers and see operating profit decline with a target of recovering operating profit to current levels by fiscal 2023 was a negative shock to us. Our fair value estimate is reduced to JPY 2,500...
- Dan Baker
Morningstar | NTT DoCoMo Results Strong but Rakuten Uncertainty Looms;...
NTT DoCoMo’s first-quarter 2018 (quarter-ending June 2018) result was slightly above our expectations and puts the company in a good position to achieve or beat its own full-year guidance. First-quarter operating profit was up 9.9% while telecom services revenue was up 2.5% and mobile services revenue increased by 0.3%. Management plans to ramp up its cost reduction program in fiscal 2018 lifting targeted cost reductions to JPY 120 billion from JPY 90 billion in fiscal 2017, and JPY 34 billion...
- Dan Baker
NTT DoCoMo Results Strong but Rakuten Uncertainty Looms; FVE Retained ...
NTT DoCoMo’s first-quarter 2018 (quarter-ending June 2018) result was slightly above our expectations and puts the company in a good position to achieve or beat its own full-year guidance. First-quarter operating profit was up 9.9% while telecom services revenue was up 2.5% and mobile services revenue increased by 0.3%. Management plans to ramp up its cost reduction program in fiscal 2018 lifting targeted cost reductions to JPY 120 billion from JPY 90 billion in fiscal 2017, and JPY 34 billion...
- Dan Baker
NTT DoCoMo Results in Line but Rakuten Uncertainty Looms; FVE to JPY 2...
NTT DoCoMo’s fiscal 2017 (year ending March 2018) result was slightly above our expectations on profitability driven by strong cost reduction programs by management, but services revenue showed a slowdown in the fourth quarter. Fourth-quarter operating profit was up 35% while telecom services revenue was up only 2.1% and mobile services revenue declined by 0.7%. Management plans to ramp up its cost reduction program in fiscal 2018 lifting targeted cost reductions to JPY 120 billion from JPY 90...
Moody's assigns (P)Aa3 to NTT DOCOMO's domestic shelf registration
Moody's Japan K.K. has assigned (P)Aa3 senior unsecured rating to the domestic shelf registration of NTT DOCOMO INC. (DOCOMO). The rating outlook is stable. The specific shelf registration rated is: - JPY 1 trillion, effective April 3, 2018 RATINGS RATIONALE DOCOMO's Aa...
Moody's assigns (P)Aa3 to NTT DOCOMO's domestic shelf registration (Ja...
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