NTT Q1 Profit Up; To Buy 19.3% Stake In Genesis Healthcare

(RTTNews) - Nippon Telegraph and Telephone Corp (NTT) reported a profit attributable to the company of 368.57 billion yen or 104.07 per basic share in the first quarter up from 339.99 billion yen or 93.87 per basic share in the same quarter last year.

Operating revenues for the first quarter grew to 3.07 trillion yen from 2.89 trillion yen in the prior year.

Looking ahead for the fiscal year ending March 31, 2023, the company still expects operating revenues of 12.60 trillion yen, operating profit of 1.82 trillion yen, and profit attributable to NTT of 1.19 trillion yen or 340.00 yen per basic share.

In a separate press release, NTT said it entered into a share purchase agreement with Genesis Healthcare's existing shareholders to acquire 41,269 Genesis Healthcare shares, which represents 19.3% of the total number of issued shares. NTT will nominate a non-executive director to the Board of Genesis Healthcare.

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