2023.4Q Financial Results : Key Points

Last updated : May 10, 2024

In FY2023, both revenues and profit increased year-over-year, and operating revenues, operating profit and profit each reached new record-high levels. EBITDA also increased year-over-year as a result of the increase in operating profit and other factors.
EPS was ¥15.1, achieving the financial target from the previous medium-term management strategy, for which FY2023 was the final year.
For the FY2024 forecast, operating revenues are expected to increase year-over-year, and operating profit, profit and EBITDA are each expected to decrease year-over-year. However, operating profit and EBITDA are projected to increase year-over-year on an adjusted basis excluding the impact of the streamlining of non-core assets and other temporary factors.
With respect to the FY2023 dividend, in consideration of having achieved the financial target (EPS) from the previous medium-term management strategy, the year-end dividend was increased by ¥0.1 per share to ¥2.6 per share (for a total annual dividend of ¥5.1 per share). The annual dividend forecast for FY2024 is ¥5.2 per share (an increase of ¥0.1 year-over-year), which would be the 14th consecutive year of dividend increases.

Please discuss the factors that caused operating profit for the fiscal year to increase by ¥93.9 billion year-over-year, despite having decreased by ¥34.6 billion year-over-year through the end of the third quarter.

For the fourth quarter (the three months ended March 31, 2024) on a standalone basis, operating profit increased by ¥128.6 billion year-over-year due to an increase in profits from streamlining non-core assets, the expansion of growth businesses primarily in the Global Solutions Business segment, and the implementation of cost reduction measures at each group company, among other factors.
In the FY2024 forecast, why are operating profit and EBITDA expected to significantly decline year-over-year?

In FY2023, profit increased due to the streamlining of non-core assets, which was one of the plans that had been set out in the previous medium-term management strategy. For FY2024, we are aiming to achieve an increase in profit on an adjusted basis excluding this temporary factor. Furthermore, we are actively implementing a variety of measures to achieve the medium-term target for FY2027 (+20% EBITDA increase compared to FY2022).
What measures are being implemented to achieve the medium-term target for FY2027?

We are working on maximizing returns from active investments in growth areas, strengthening our domestic and international enterprise businesses by leveraging the synergies from the NTT DOCOMO and NTT DATA integration, and implementing fundamental group-wide cost structure reforms.

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