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Equity Bottom-Up

<p><a href="https://www.smartkarma.com/entities/639" target="_blank" data-smartkarma-citation="entities:639:1">KDDI's (9433 JP)</a> recent results and guidance were close to our expectations (and consensus) with the main positive being a surprise ¥100bn buy-back (1.2% of market cap). With the dividend also increased (expected) this is good for sentiment.  The FY17/18 outlook is not as bad as some had feared: mobile service revenue should be flat for the year as should consolidated operating free cash flow. Mobile service revenue is being affected by stronger than expected MVNO competition which is leading to…</p>

KDDI's (9433 JP) recent results and guidance were close to our expectations (and consensus) with the main positive being a surprise ¥100bn buy-back (1.2% of market cap). With the dividend also increased (expected) this is good for sentiment.  The FY17/18 outlook is not as bad as some had feared: mobile service revenue should be flat for the year as should consolidated operating free cash flow. Mobile service revenue is being affected by stronger than expected MVNO competition which is leading to…

NTT (Nippon Telegraph & Telephone) (9432 JP)

KDDI Delivering Rising Shareholder Returns While Results Were Broadly in Line.

KDDI Corp

KDDI Delivering Rising Shareholder Returns While Results Were Broadly in Line.