KDDI (Buy) - Q3 22 Results Reaction: Super Mobile but Full-Year Targets Look Challenging

KDDI (Buy) - Network Outage Is a Bad Look but Concerns Should Fade over Time

KDDI (Buy) - Q1 22 Results Reaction: Mixed Quarter as Consumer Predictably Weak

Gravity Works As WeWork Doesn't; Now Plan B

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

<ul>
<li>KDDI posted its best revenue growth since 2019 but an acceleration in power costs and expenses associated with the July network outage kept a lid on margins</li>
<li>On balance, the print is positive and management remains confident on full-year targets</li>
<li>There are sector reads from corporate sales (good), higher power costs (bad), and stable competitive intensity whilst modest erosion in roaming revenue indicates Rakuten's rebound from peak losses is modest</li>
</ul>


KDDI posted its best revenue growth since 2019 but an acceleration in power costs and expenses associated with the July network outage kept a lid on margins
On balance, the print is positive and management remains confident on full-year targets
There are sector reads from corporate sales (good), higher power costs (bad), and stable competitive intensity whilst modest erosion in roaming revenue indicates Rakuten's rebound from peak losses is modest


NTT (Nippon Telegraph & Telephone) (9432 JP)

KDDI (Buy) - Q2 22 Results Reaction: Mixed Quarter as Power Costs Accelerate

KDDI Corp

KDDI (Buy) - Q2 22 Results Reaction: Mixed Quarter as Power Costs Accelerate