Tencent – Riot Grows Valorant and Dips Its Toe in the Metaversal Waters

Riot Games – Arcane Topples Squid Game and Wave’s Virtual Justin Bieber

NTT (Buy) - Mid-Term EPS Guidance Boost as a Fully Integrated DoCoMo Drives Growth

NTT (Buy) - Q1 21 Results Reaction: Buyback Confirmed

Japan Telecom Sector - Regulator to Signal Level Playing Field for DoCoMo

Japan Telecoms - Surprise Resignation of the Prime Minister Should Ease Regulatory Pressure

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) / Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) (9432 JP)

<p>NTT has had a good couple of weeks. The company followed up its mid-term EPS target upgrade last week with Q2 results ahead of consensus and announced the cancellation of treasury shares that provide indirect confirmation that share buyback volumes of c. ¥200-300bn will continue.  Operationally, the Q2 beat was driven by results for NTT Data that were announced yesterday but the company also posted a fifth straight quarter of fixed-line growth whilst the mobile business posted healthier results than peers. We remain at Buy.</p>

NTT has had a good couple of weeks. The company followed up its mid-term EPS target upgrade last week with Q2 results ahead of consensus and announced the cancellation of treasury shares that provide indirect confirmation that share buyback volumes of c. ¥200-300bn will continue.  Operationally, the Q2 beat was driven by results for NTT Data that were announced yesterday but the company also posted a fifth straight quarter of fixed-line growth whilst the mobile business posted healthier results than peers. We remain at Buy.

NTT (Buy) - Q2 21 Results Reaction: Profit Beat with Good News in Fixed and Mobile