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Tokyo (pte046/27.05.2003/17:05) - Japan Telecom http://japan-telecom.co.jp/english/ has returned to profit, closing the last fiscal year with positive figures.
The third largest Japanese telecommunications group posted an annual profit of 79.5bn yen (572m euros), compared to a loss of 66bn yen (475m euros) the year before. The result has exceeded the expectations of the company, as well as those of analysts, as reported by the Wall Street Journal http://www.telecom-holdings.co.jp/english/ir/result/index.html . Japan Telecom had predicted a profit of 65bn yen (468m euros), while analysts had expected a maximum of 74bn yen (532m euros).
The group attributes the good results to its cost reduction programme and the success of its mobile communications subsidiary J-Phone. Within the year, J-Phone was able to acquire a 'net' number of 1.73m new clients, achieving a share of over 25 per cent on the new client market and at the same time lowering its promotion costs.
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