NTT DoCoMo posts drop in profits

Japan’s leading mobile service provider NTT DoCoMo has come out with their latest revenue report and the company has posted dropping profit figures.

NTT said in a statement that their profit fell 15 percent in most recent quarter. They suffered from the increased competition in the market which made it necessary for them to cut costs on products and services.

NTT DoCoMo’s net income in the quarter was 123.7 billion yen. This is down from 146.3 billion yen in the same period last year.

NTT DoCoMo faces intense competition in the domestic market from companies like KDDI and Softbank.

NTT has now said that they plan to consolidate eight regional service operators across Japan to cut costs and enhance profits.