KDDI announces 16% increase in profit for 2006
April 25, 2007
By Ken Worsley
Yesterday, KDDI announced that its operating profit for financial 2006 increased 16.2%, reaching 344.7 billion yen. Since number portability was introduced to Japan in October 2006, KDDI’s AU mobile brand has picked up 810,000 new customers, while rivals DoCoMo and Softbank have bled customers (-630,000, -180,000 respectively).
Earlier this month, KDDI announced plans to expand the AU brand into the US market as a Mobile Virtual Network Operator running on Sprint Nextel’s telecom network. (This was also discussed as part of the most recent release on BizCast Japan at Trans-Pacific Radio).
Today, the day after KDDI’s announcement, Merrill Lynch downgraded the stock, as heavy selling on the Nikkei led to a 1.24% slide in the index on Wednesday.
Filed Under Technology, Telecom
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[…] reported on KDDI’s solid financial success in fiscal 2006 and NTT DoCoMo’s troubles in the same year, and it looks like in 2007 things are set to […]