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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (62412)	3/28/2002 12:35:08 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

It still feel wrong, but, DoCoMo to Write Down Overseas Investments By Half (Update1) By Keiko Kambara, Kae Inoue and Ryoko Imaizumi 03/27 22:28 quote.bloomberg.com Tokyo, March 28 (Bloomberg) -- NTT DoCoMo Inc., the world's largest mobile-phone company, will write down the value of its investments outside Japan by almost half and post its first loss since selling shares to the public four years ago, the Nihon Keizai newspaper said, without citing sources. In the fiscal year ending Sunday, the company will take 1 trillion yen ($7.54 billion) in charges to account for a decline in the value of overseas investments such as AT&T Wireless Services Inc. and Hutchison 3G UK Holdings Ltd., the paper said. The result will be a group loss of about 100 billion yen, DoCoMo's first loss since listing shares in 1998, the paper said. DoCoMo joins a string of companies globally who are rethinking the earnings potential of purchases made in 1999 and 2000. DoCoMo's shares have declined by about 60 percent from a February 2000 high as the company tried to convince investors its 1.9 trillion yen in overseas investments would boost earnings. ``It's going to be difficult until DoCoMo can show the results to justify its investments,'' said Seiichiro Iwamoto, who manages 100 billion yen in assets at Fuji Investment Management Co., including an undisclosed number of DoCoMo shares. ``It's not clear when DoCoMo can do this.'' In response to the Nihon Keizai newspaper article, DoCoMo said in a statement filed through the Tokyo Stock Exchange that nothing is decided on the matter of writedowns.