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NTT Data reports lower full-year profit despite strong sales

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NTT Data reports lower full-year profit despite strong sales

Japanese IT consulting firm NTT Data Corp. reported net income attributable to shareholders of ¥58.17 billion in fiscal 2017, down from ¥65.69 billion in the previous year, despite a 22.2% increase in net sales.

Net income per share for the fiscal year that ended March 31 came in at ¥41.48, down from ¥46.84 in the prior fiscal year.

Net sales rose to ¥2.117 trillion for the year from ¥1.732 trillion, driven by NTT's North America segment, which posted net sales of ¥472.0 billion, up from ¥246.3 billion.

The Europe, Middle East, Africa and Latin American segment posted net sales of ¥423.2 billion, up from ¥330.8 billion.

Public and social infrastructure segment net sales declined 2.6% to ¥443.6 billion from ¥455.4 billion, while net sales in the firm's financial segment rose 8.0% to ¥559.5 billion from ¥518.0 billion. Enterprise and solutions segment net sales were ¥477.2 billion, up from ¥425.6 billion.

Operating income was ¥123.52 billion in fiscal 2017, up from ¥117.11 billion the previous year.

The company reported no extraordinary income for the year; it booked total extraordinary income of ¥18.33 billion 2016, coming from gains on sales of investment securities and other items.

Extraordinary losses hit NTT's income, mainly relating to restructuring of subsidiaries and affiliates, which totaled ¥19.75 billion.

NTT expects its fiscal 2018 net EPS to come in at ¥64.17 and net income at ¥90 billion.

As of May 9, US$1 was equivalent to ¥109.74.