NTT (9432) Q1 2026 (Media) earnings summary

Executive summary

• Q1 operating revenues reached a record high of ¥3,262.0 billion, up 0.7% year-on-year, driven by enterprise business expansion despite a negative foreign exchange impact of about JPY 50 billion.

• Operating profit declined 7.0% year-on-year to ¥405.2 billion, and net profit attributable to shareholders fell 5.3% to ¥259.7 billion due to increased costs for customer base strengthening and network quality improvements.

• Comprehensive income attributable to shareholders decreased 12.4% year-on-year to ¥308.2 billion.

• Revenue and profit are progressing largely as expected, with ongoing cost reduction and business growth initiatives.

• Basic earnings per share declined to ¥3.14 from ¥3.26 in the prior-year quarter.

Financial highlights

• Q1 operating revenue: JPY 3.262 trillion, up JPY 22 billion year-on-year.

• EBITDA: JPY 801.4 billion, down JPY 13.9 billion year-on-year.

• Operating profit: JPY 405.2 billion, down JPY 30.6 billion year-on-year.

• Net profit: JPY 259.7 billion, down JPY 14.4 billion year-on-year.

• Total assets increased to ¥30,999.8 billion as of June 30, 2025, up from ¥30,062.5 billion at March 31, 2025.

Outlook and guidance

• Fiscal year ending March 31, 2026 guidance: operating revenues ¥14,190.0 billion (+3.5%), operating profit ¥1,770.0 billion (+7.3%), profit attributable to shareholders ¥1,040.0 billion (+4.0%), and basic EPS ¥12.60.

• Focus remains on cost reduction, strengthening customer base, and expanding Smart Life and enterprise businesses to achieve annual targets.

• Dividend forecast for FY2026 is ¥5.30 per share, up from ¥5.20 in FY2025.