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NTT EAST, NTT WEST REVISE DOWN REVENUE FORECASTS.
TOKYO, March 1 Asia Pulse - The Nippon Telegraph and Telephone Corp. (TSE:9432) regional arms NTT East Corp. and NTT West Corp. cut their combined operating revenues forecast for fiscal 2002 by Y399 billion ($US2.98 billion), or 7.8% from the estimate for this year, according to business plans submitted Thursday to the Telecommunications Ministry.
Operating revenues for the current fiscal year are expected to fall 6.7% on the year at NTT East and 5.9% on the year at NTT West.
For fiscal 2002, NTT East's revenues are projected to decline 8.2% from the current year's estimate, while NTT West's will likely fall 7.3% compared with this year.
The declines are due in large part to intensifying price competition. In addition to lower local call rates, the NTT firms have faced competition ...
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