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Politics : Formerly About Applied Materials

AMAT 301.88

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Jan 14 3:59 PM EST

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To: StanX Long who wrote (61093)	2/28/2002 2:04:29 AM
From: StanX Long	Read Replies (1) of 70976

Japan Telecom Sees Group Net Loss Widening in FY01 Thursday February 28, 10:05 AM sg.news.yahoo.com TOKYO, Feb 28 Asia Pulse - Japan Telecom Co (TSE:9434) said Wednesday that it expects a consolidated net loss of 71 billion yen ($US528.39 million) for the year through March 31 instead of the 2 billion yen loss it had projected earlier. The telecommunications firm will book a total of about 87 billion yen in extraordinary losses, including 75 billion yen in valuation losses on its stake in wholly owned subsidiaries and other assets. Also included in the extraordinary losses is a 12 billion yen early repayment fees to the banks from which group member J-Phone Co. has borrowed around 1.1 trillion yen. The unit plans to pay off almost the entire amount before maturity. J-Phone will then borrow funds from U.K. firm Vodafone Group Plc, Japan Telecom's parent. Meanwhile, consolidated sales are seen increasing 14 per cent on the year to 1.66 trillion yen, up 40 billion yen from the earlier forecast. Group pretax profit will likely total 69 billion yen, down 23 per cent on the year but beating the previously projected 55 billion yen, due partly to the better-than-expected performance at J-Phone. (Nikkei)

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