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NTT, Net Income Forecast for the Fiscal Year Revised Downward to an Unexpected 4% Decrease

Thu Feb 5, 2026 1:30 pm JST Earnings

9432 NTT, Inc. 【IFRS】

Earnings Report

NTT, Inc. <9432> [TSE Prime] announced its financial results (based on IFRS) in the afternoon session on February 5th (13:30). The consolidated net income for the cumulative third quarter of the fiscal year ending March 2026 (April to December) increased 8.9% from the same period last year, reaching 0.92 trillion yen.

However, the full-year forecast for consolidated net income has decreased 7.2%, from the previous forecast of 1.04 trillion yen to 0.96 trillion yen (compared to 1.00 trillion yen in the previous period). This changes the outlook from an anticipated profit increase to a projection of a 3.5% decrease in profit.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated net income for the October to March period (second half) has decreased 16.9%, from the previous forecast of 0.44 trillion yen to 0.36 trillion yen (compared to 0.44 trillion yen in the same period of the previous year), leading to an increase in the profit decline rate from 0.2% to 17.0%.

In the most recent three-month period, from October to December (3Q), the consolidated net income grew 11.7% from the same period last year, reaching 0.33 trillion yen. The operating profit margin rose from 13.8% in the same period last year to 14.0%.

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Actual Results

Accumulated Results 3rd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Dec, 2023 9,716,856 1,486,187 1,556,842 1,011,115 11.9 78.6 Feb 8, 2024 IFRS
Apr - Dec, 2024 10,049,724 1,399,233 1,341,686 850,691 10.2 85.7 Feb 7, 2025 IFRS
Apr - Dec, 2025 10,421,038 1,457,145 1,373,681 926,060 11.2 88.6 Feb 5, 2026 IFRS
YoY +3.7% +4.1% +2.4% +8.9% +10.6%

Guidance Update

Second Half Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2025 Prev 7,417,287 824,971 770,695 444,349 5.5 2.65 Nov 4, 2025 IFRS
Oct - Mar, 2025 New 7,391,287 714,971 660,695 369,349 4.5 2.65 Feb 5, 2026 IFRS
Revision Rate -0.4% -13.3% -14.3% -16.9% -16.9%

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2026 Prev 14,190,000 1,770,000 1,660,000 1,040,000 12.8 5.30 May 9, 2025 IFRS
Mar, 2026 New 14,164,000 1,660,000 1,550,000 965,000 11.8 5.30 Feb 5, 2026 IFRS
Revision Rate -0.2% -6.2% -6.6% -7.2% -7.2%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2024 7,114,102 729,316 685,851 445,224 5.3 2.60 May 9, 2025 IFRS
Oct - Mar, 2025 Guidance 7,391,287 714,971 660,695 369,349 4.5 2.65 Feb 5, 2026 IFRS
YoY +3.9% -2.0% -3.7% -17.0% -14.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2024 13,374,569 1,922,910 1,980,457 1,279,521 15.1 5.10 May 10, 2024 IFRS
Mar, 2025 13,704,727 1,649,571 1,564,696 1,000,016 12.0 5.20 May 9, 2025 IFRS
Mar, 2026 Guidance 14,164,000 1,660,000 1,550,000 965,000 11.8 5.30 Feb 5, 2026 IFRS
YoY +3.4% +0.6% -0.9% -3.5% -1.1%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Oct - Dec, 2024 3,459,099 478,978 462,841 295,899 3.5 13.8 Feb 7, 2025 IFRS
Jan - Mar, 2025 3,655,003 250,338 223,010 149,325 1.8 6.8 May 9, 2025 IFRS
Apr - Jun, 2025 3,262,039 405,193 391,769 259,714 3.1 12.4 Aug 6, 2025 IFRS
Jul - Sep, 2025 3,510,674 539,836 497,536 335,937 4.1 15.4 Nov 4, 2025 IFRS
Oct - Dec, 2025 3,648,325 512,116 484,376 330,409 4.0 14.0 Feb 5, 2026 IFRS
YoY +5.5% +6.9% +4.7% +11.7% +13.6%

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