reports
- Dan Baker
Solid 4Q and Guidance for KDDI; Potential Rakuten Entry Will Continue ...
KDDI’s fourth-quarter fiscal 2017 result (quarter ending March 2018) was broadly in line with our estimates and its fiscal 2018 guidance for operating income growth of 5.9% and 11% growth in dividend to JPY 100 per share was also in line. We leave our fair value estimate of JPY 3,700 unchanged the ADR fair value estimate rising to USD 17 from USD 16 per ADR on a stronger Japanese yen since our last update. At our fair value, KDDI would trade on a price/earnings ratio of 14.7 times with a 2.7% ...
- Dan Baker
KDDI Produces Solid 3Q; Potential Rakuten Entry will Overhang for a Wh...
KDDI’s third-quarter fiscal 2017 result (quarter-ending December 2017) was slightly above our estimates, but we broadly retain our forecasts and leave our fair value estimate unchanged. The company reported 10% operating revenue growth and 11.6% operating income growth to JPY 271 billion for the third quarter. We retain our fair value estimate of JPY 3,700 per share and USD 16 per ADR. At our fair value, KDDI would trade on a price/earnings ratio of 16.3 times with a 2.4% dividend yield. Our v...
- Dan Baker
KDDI Management Posts Conservative Fiscal Year-End Forecasts at Result...
KDDI’s fourth-quarter fiscal 2016 result (quarter-ending March 2017) was below our estimates at a reported level but broadly in line with estimates after taking into account higher-than-expected equipment impairment losses. The company reported 5% operating revenue growth and 14.3% operating income decline to JPY 137 billion for the fourth quarter. Underlying operating income would have grown at around 9%, excluding the impairment. For the full year, the company reported a solid 6.3% operating...
- Dan Baker
KDDI Produces Strong First Half; Fair Value Increased to JPY 3,700
KDDI’s second-quarter fiscal 2016 result (quarter-ending September 2016) was mildly ahead of our estimates and puts it on track to comfortably beat its own (unchanged) full-year guidance. The company reported 18% operating income growth to JPY 533 billion but is still only guiding for 9.1% operating income growth to JPY 885 billion for the full year. We increase our earnings forecasts by around 3%-5% and increase our fair value estimate to JPY 3,700 per share and USD 17.50 per from ADR from JP...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.