Tokyo Telecommunication Network Co. posted 3.66 billion yen in pretax profits for the year to March 31, marking a recovery from 635 million yen in losses the previous year, according to the firm's earnings report released Monday.
TTNet said its operating profits in 2000 marked an 83.3 percent year-on-year rise to 9.46 billion yen on group sales of 182.19 billion yen, up 0.7 percent.
Net profits came to 287 million yen, compared to 1.85 billion yen net losses in the 1999 business year.
Data transmission sales surged 64.3 percent to 5.96 billion yen, while voice transmission sales fell 2.2 percent to 83.97 billion yen, the company said.
Personal handy phone business, operated under brand name Tokyo Astel, suffered a sharp sales fall in competition against cellular phones.
The number of PHS subscribers fell by 22,200 to 370,900 as of the end of March, according to the company.
President Katsumi Iwasaki said at a news conference the company will start in June or July a test broadband access service using optical fiber lines directly connected to homes or offices.
The bandwidth will be 10 megabits-per-seconds or faster, he said.
Management shuffled
Satoshi Shiraishi, executive vice president of Tokyo Telecommunication Network Co., will become president, replacing Katsumi Iwasaki, who will become chairman, the company said Monday.
The appointment will be formalized at a shareholders' meeting June 21, TTNet said.
Shiraishi joined the telecom company in 1999. after working for nearly four decades at Tokyo Electric Power Co., TTNet's parent company.