NTT (9432) Q3 2026 (Media) earnings summary

Executive summary

• Consolidated revenue and profit increased year-over-year for the nine months ended December 31, 2025, with operating revenue reaching a record high of ¥10,421,038 million despite a JPY 55 billion negative FX impact.

• EBITDA rose by JPY 104.8 billion and operating profit by JPY 57.9 billion year-over-year, driven by enterprise business expansion and data center transfers for REIT.

• Profit attributable to shareholders increased by JPY 75.4 billion year-over-year to JPY 926.1 billion, with comprehensive income rising to ¥1,448,816 million.

• Basic earnings per share improved to ¥11.23 from ¥10.15 in the prior year period.

Financial highlights

• Operating revenue increased by JPY 371.3 billion year-over-year to JPY 10,421 billion.

• EBITDA reached JPY 2,657.3 billion, up JPY 104.8 billion year-over-year.

• Operating profit was JPY 1,457.1 billion, up JPY 57.9 billion year-over-year.

• Net profit rose to JPY 926.1 billion, a JPY 75.4 billion increase year-over-year.

• Total assets increased to ¥46,834,791 million as of December 31, 2025, up from ¥30,062,483 million at March 31, 2025.

Outlook and guidance

• Full-year consolidated forecast revised downward, reflecting DOCOMO and NTT DATA Group updates, but operating revenues are forecast at ¥14,164,000 million, up 3.4% year-over-year.

• DOCOMO's operating profit guidance revised down by JPY 83 billion due to intensified competition and higher investment in customer base and network quality.

• NTT DATA Group's operating profit revised downward to JPY 26 billion, reflecting realized gains and FX fluctuations.

• Basic earnings per share for the full year are projected at ¥11.70.

• Efforts to recover performance include growth in Smart Life and enterprise businesses, and cost reduction initiatives.