KDDI Quarterly Profits Drop 25%

­Japanese mobile network operator, KDDI Corp has reported a 25% drop in its fiscal second quarter results. The quarterly net profit was Y58.87 billion (US$640 million), down from Y78.66 billion in the same period a year ago. Revenues dropped by 0.9% to Y869.36 billion (US$9.45 billion). The company ended September with 31.23 million subscribers, however, intensifying marketing efforts lead to a 21% drop in operating profit to Y109.16 billion (US$1.2 billion). The company estimated that its market share was 28.5% at the end of the quarter.... [read full story]                    

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