KDDI Corp

KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap

Equity Bottom-Up
397 Views, 13 May 2022 19:01
EXECUTIVE SUMMARY
  • KDDI reported earnings today, offering a near meaningless March 2022 results presentation slide deck, and an only slightly more meaningful new Mid-Term Plan.
  • The only clarity provided is on the bit which makes up about a third of future OP as the two-thirds (mobile telephony ARPU-related revenues) will see considerable pain this year. 
  • The buyback is nice, but KDDI is no longer cheap, and may have relative upside only against Softbank Corp. 
detail (5-minute read)
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Travis Lundy
Pan-Asia Catalysts/Events
Quiddity Advisors
Japan & Hong KongEquitiesEvent-DrivenQuantitative Analysis

HK Type 4 license through Ballingal Investment Advisors Ltd. ("BIA" or "BIAL") BACKGROUND I have 20+yrs experience in A... 

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