KDDI Corp Watchlist
KDDI (9433) Results OK, Forecasts OK, Buyback Even Better, But No Longer Cheap
397 Views, 13 May 2022 19:01
- 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.