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| NTT Expects $6.5B Loss by Jeremy at 4:32 pm EST, Apr 5, 2002 | |||
NTT, Japan's largest telco, will post an annual loss of about $6.5B, the largest ever by a Japanese company other than a bank. Charges taken by NTT subsidiaries because of the plummeting values of their overseas investments are mainly responsible for the loss. NTT will write off more than $15B on its investments in AT&T Wireless , KPN Mobile, Verio, and others. ... With the huge loss, NTT joins other telecommunications companies whose balance sheets have been decreased in the last 18 months. NTT DoCoMo is one of NTT's hardest hit units. Its investments have so fallen in value ... DoCoMo will probably post its first loss [ever]. ... DoCoMo is Japan's largest company by market cap, twice the value of NTT. | |||
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