KDDI Corp

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

Equity Bottom-Up
384 Views, 13 May 2022 18:53
EXECUTIVE SUMMARY
  • 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
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Kirk Boodry
Telco/Internet specialist
Redex Research
JapanInformation Technology & Communication ServicesEquity Bottom-UpThematic (Sector/Industry)

Kirk Boodry has 20+ years as a sell-side analyst including time in NY, Tokyo, London and Singapore. He first started cov... 

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