Qualcomm Inc (QCOM)

[Data_Rox]

Japan's KDDI hikes FY03 net profit forecast to 95 bln yen from 71 bln - UPDATE
AFX - Asia
October 7, 2003
TOKYO

(Recasts to lead with full-year forecast, adds details)

KDDI Corp today raised its full-year consolidated net profit forecast to 95 bln yen, from the 71 bln yen projected in May, citing brisk expansion of its 3G mobile phone subscriber base.

Japan's second-largest phone company in terms of sales posted a profit of 57.36 bln yen for the past year to March.

For the April-Sept half, the operator of both fixed-line and mobile phone services forecast a group net profit of 83 bln yen, up from 20.45 bln yen a year earlier.

In a statement, KDDI attributed the far-above-target results to a greater number of new subscribers to its "au" mobile phone service than initially projected, and higher-than-expected revenue per user.

Last month, KDDI said the number of subscribers to its high-speed 3G service topped 10 mln, 10 times the number of subscribers to the competing third-generation service arch rival NTT DoCoMo Inc offers.

KDDI's shares surged 36,000 yen, or 5.9 pct, to 645,000 yen today ahead of the earnings revision announcement.

KDDI's shares have soared 84.3 pct since the start of the Japanese financial year on April 1.

For more information and to contact AFX: www.afxnews.com and
www.afxpress.com