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Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<p style="text-align: justify;"><strong>NTT DoCoMo posted results ahead of consensus expectations boosted by steady improvement in mobile service revenue and record profits in its non-telco Smart Life business. The solid quarter provides some relief for parent NTT which is buying in minority shareholders at a premium although concerns on whether DoCoMo will need to aggressively respond to pressure for price reductions will linger.  Continued low churn rates read positively across to fellow incumbents Softbank and KDDI but less so for Rakuten whose impact on the industry has been muted so far.  </strong></p>

NTT DoCoMo posted results ahead of consensus expectations boosted by steady improvement in mobile service revenue and record profits in its non-telco Smart Life business. The solid quarter provides some relief for parent NTT which is buying in minority shareholders at a premium although concerns on whether DoCoMo will need to aggressively respond to pressure for price reductions will linger.  Continued low churn rates read positively across to fellow incumbents Softbank and KDDI but less so for Rakuten whose impact on the industry has been muted so far.  

NTT (Nippon Telegraph & Telephone) (9432 JP)

NTT DoCoMo Q2 20 Results: Last Public Report Ends on a Relative High Note

NTT Docomo Inc

NTT DoCoMo Q2 20 Results: Last Public Report Ends on a Relative High Note