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

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NTT (Buy) - Q4 21 Results Reaction: Steady as She Goes

KDDI (Buy) - Follow-Up After Q3 21 Results

Softbank Corp Q4 21 Results Reaction: Behind the Headlines, Disappointing Guidance

Gravity Works As WeWork Doesn't; Now Plan B

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<ul>
<li>Guidance for modest growth in FY22 operating income is broadly in line with expectations and reassuring after a range of potential outcomes in reports from NTT and Softbank  </li>
<li>The company has issued a mid-term plan with a positive message on growth from new businesses and in-line guidance for capex/shareholder returns but a lack of FY24 finanical targets</li>
<li>On balance, the message is positive as a stable business and rising shareholder returns makes KDDI an attractive option in a frothy market</li>
</ul>


Guidance for modest growth in FY22 operating income is broadly in line with expectations and reassuring after a range of potential outcomes in reports from NTT and Softbank  
The company has issued a mid-term plan with a positive message on growth from new businesses and in-line guidance for capex/shareholder returns but a lack of FY24 finanical targets
On balance, the message is positive as a stable business and rising shareholder returns makes KDDI an attractive option in a frothy market


NTT (Nippon Telegraph & Telephone) (9432 JP)

KDDI (Buy) Q4 21 Results Reaction: FY22 Profits Steady and Wide-Ranging Mid-Term Plan

KDDI Corp

KDDI (Buy) Q4 21 Results Reaction: FY22 Profits Steady and Wide-Ranging Mid-Term Plan