NTT (9432) Q2 2027 (Media) earnings summary

Executive summary

• H1 FY27 operating revenue reached a record ¥7,362,154m, up 8.7% YoY; operating profit fell 12.2% to ¥830,073m and attributable profit fell 16.0% to ¥500,193m.

• FY27 forecasts were raised, with results progressing in line with expectations; excluding the prior-year one-time gain reversal, profit increased YoY.

Financial highlights

• Operating revenue was ¥7,362,154m versus ¥6,772,713m, up ¥589.4bn YoY; foreign-exchange effects contributed ¥137bn.

• EBITDA was ¥1,655.7bn, down ¥84.8bn YoY; operating profit was ¥830.1bn, down ¥115bn.

• Profit attributable to shareholders was ¥500,193m versus ¥595,651m; profit before taxes was ¥766,381m versus ¥889,305m.

Outlook and guidance

• FY27 forecasts were raised by ¥20bn each for revenue, EBITDA and operating profit, and by ¥14bn for profit; revised revenue is ¥15,080bn and operating profit ¥1,730bn.

• Revised forecasts reflect strong recent Integrated ICT sales and the announced mobile pricing revision; the full-year capital investment plan increased to support network quality.

• FY27 forecasts include profit before taxes of ¥1,520bn, attributable profit of ¥994bn and basic EPS of ¥12.20.