Japan-based KDDI’s profit dropped in its fiscal Q4 2024 (ending 31 March) due to what it called temporary impacts, stemming from losses of JPY119 billion ($763 million) on its Myanmar telecoms business.
Last month the operator said it would book losses on its Myanmar joint venture, recording a JPY103.1 billion provision as well as a JPY16 billion impairment charge on the removal of equipment.
Net profit in the quarter fell 36.6 per cent year-on-year to JPY92.3 billion, with depreciation and amortisation charges up nearly fourfold to JPY685.9 billion. Operating revenue was flat at JPY1.5 trillion.
Its outlook for fiscal 2025 forecasts net profit to rise 8.2 per cent to JPY690 billion and revenue to remain stable at JPY5.8 trillion.
CEO Makoto Takahashi noted on an earnings call it aims to drive profit with double-digit growth in its new businesses, including energy and financial, and higher mobile ARPU, coming from expanded 5G promotions.
Full-year capex is expected to drop to JPY650 million after climbing 19.4 per cent to JPY749.3 billion in fiscal 2024, with the savings driven by a network sharing deal with rival SoftBank Corp.
Mobile service revenue dipped 1.3 per cent to JPY385.9 billion, with ARPU up 1.6 per cent to JPY5,210 at end-March. Handset sales declined 17 per cent to JPY161.8 billion.
The operator’s mobile user base was stable at 31.2 million, with 5G subs accounting for 67.2 per cent of the total.
Its business services unit grew 14.7 per cent to JPY352.6 billion.
The post KDDI forecasts profit rebound after Q4 decline appeared first on Mobile World Live.
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