Business

NTT profits hit by tsunami power blackouts

Employees of DoCoMo, owned by NTT, using their mobile phones
Image caption NTT is owner of Japan's DoCoMo mobile phone network

Japanese telecoms giant NTT Communications has said that its net profit fell by 8.2% in the year to March to 467.7bn yen ($5.9bn; £3.6bn).

It blamed shrinking demand, the global economic slowdown and power blackouts following the Japanese tsunami.

Revenues in NTT's data communications business shrank 13.7% to 78.3bn yen.

This week, other Japanese companies, including Sony and Panasonic, have blamed the effects of the tsunami for record losses.

Revenues decreased 8.2% to 324.2bn yen in NTT's voice transmission services business, one of its most profitable areas.

It did, however, lower its expenses by 5.5% to 429.5bn yen ($5.8bn; £3.34bn) with tighter controls on purchases of goods and services.

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