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NTT DoCoMo CEO Discusses F3Q2011 Results - Earnings Call Transcript

Now for today’s meeting we will start with a presentation from Mr. Yamada, followed by a Q&A session. We intend to finish the meeting at 6 o’clock sharp. Please also be advised that this – that there might be risk pertaining to forward-looking information. Please refer to the presentation for the risks pertaining to forward-looking statements.

Ryuji Yamada

Good afternoon. I am Yamada of NTT DoCoMo. Thank you very much for sparing your precious time to attend this meeting. I would also like to take this opportunity to express my gratitude for your continued patronage to the company. Now without further ado, I would like to the presentation for the results of the first nine months of the fiscal year ending March 2011. We have a quite a bulky documents. So I would just like to focus on the highlights.

I’ll begin from page three. The financial results for the first three quarters of fiscal year ending March 2011. For the first three quarters, operating revenues dropped by 1% and reached 3,209.1 billion yen. Operating income increased by 7.9% and reached 758.5 billion yen. So operating income revenues decreased by income increased. Because of the changes of the estimation method of the loyalty program allowances in the first half, the operating incomes progressed to full-year focus was 90.3%, a very favorable progress.

In the fourth quarter, due to the brisk sales of smartphones, we are expecting an increase in commissions and therefore we have not decide – we have decided not to change the operating incomes full-year forecast. Next page regarding the highlights of the results. Especially if you look at here growth, service level improvement, and cost control. We were able to simultaneously achieve these different challenges.

First about the smartphone sales. On a cumulative basis, this fiscal year we sold 1.26 million units as of the end of December. Packet revenues increased by 76.6 billion yen or 6.5% year-on-year. The revenues from new businesses which is represented by other revenues. Other revenues increased by 54.6 billion yen. So as you see here, these efforts for additional growth have delivered tangible results. The maintenance and improvement of service level, actually I’ll come back to this topic later but we were able to receive the number one rating in customer satisfaction. We maintained our churn rate low at a very low level. And we launched the Xi service.

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