NTT revises group earnings projection upward

Nippon Telegraph and Telephone Corp. has revised its group earnings projections upward for the business year ending March 31, it said Tuesday.

NTT expects group sales to hit 10.33 trillion yen, up 97 billion yen from its earlier projection of 10.24 trillion yen.

NTT Corp. attributed the increase mainly to changes in its system for collecting telephone call charges when the NTT group was reorganized July 1, company officials said.

While the pretax profit of the NTT group, which comprises 30 firms, is still expected to be 713 billion yen, it revised its consolidated net loss estimate to 128 billion yen, an improvement from its earlier forecast of a 133 billion yen loss, they said.

Nippon Telegraph and Telephone East Corp. and Nippon Telegraph and Telephone West Corp., which were created by the July 1 reorganization, respectively expect 2.15 trillion yen and 2.07 trillion yen in sales for the nine-month period through March 31, 2000.