NTT DoCoMo, Inc. |
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Date: November 6, 2008 | By: | /S/ OSAMU HIROKADO | ||
Osamu Hirokado | ||||
Head of Investor Relations | ||||
Millions of yen | ||||||||
September 30, 2008 | March 31, 2008 | |||||||
ASSETS |
||||||||
Current assets: |
||||||||
Cash and cash equivalents |
¥ | 523,834 | ¥ | 646,905 | ||||
Short-term investments |
2,986 | 52,208 | ||||||
Accounts receivable |
725,157 | 686,673 | ||||||
Allowance for doubtful accounts |
(13,672 | ) | (15,037 | ) | ||||
Inventories |
185,495 | 146,584 | ||||||
Deferred tax assets |
90,741 | 108,037 | ||||||
Prepaid expenses and other current assets |
172,233 | 142,410 | ||||||
Total current assets |
1,686,774 | 1,767,780 | ||||||
Property, plant and equipment: |
||||||||
Wireless telecommunications equipment |
5,433,644 | 5,346,486 | ||||||
Buildings and structures |
803,755 | 797,904 | ||||||
Tools, furniture and fixtures |
538,139 | 536,718 | ||||||
Land |
199,067 | 198,958 | ||||||
Construction in progress |
125,604 | 128,042 | ||||||
Accumulated depreciation and amortization |
(4,282,160 | ) | (4,173,501 | ) | ||||
Total property, plant and equipment, net |
2,818,049 | 2,834,607 | ||||||
Non-current investments and other assets: |
||||||||
Investments in affiliates |
371,134 | 349,488 | ||||||
Marketable securities and other investments |
160,380 | 187,361 | ||||||
Intangible assets, net |
545,886 | 555,259 | ||||||
Goodwill |
157,821 | 158,889 | ||||||
Other assets |
269,331 | 234,047 | ||||||
Deferred tax assets |
164,416 | 123,403 | ||||||
Total non-current investments and other assets |
1,668,968 | 1,608,447 | ||||||
Total assets |
¥ | 6,173,791 | ¥ | 6,210,834 | ||||
LIABILITIES, MINORITY INTERESTS AND SHAREHOLDERS EQUITY |
||||||||
Current liabilities: |
||||||||
Current portion of long-term debt |
¥ | 64,200 | ¥ | 75,662 | ||||
Short-term borrowings |
| 1,712 | ||||||
Accounts payable, trade |
457,873 | 717,453 | ||||||
Accrued payroll |
51,988 | 53,538 | ||||||
Accrued interest |
1,099 | 710 | ||||||
Accrued income taxes |
194,944 | 203,645 | ||||||
Other current liabilities |
160,831 | 181,595 | ||||||
Total current liabilities |
930,935 | 1,234,315 | ||||||
Long-term liabilities: |
||||||||
Long-term debt (exclusive of current portion) |
462,182 | 401,090 | ||||||
Liability for employees retirement benefits |
121,510 | 116,888 | ||||||
Other long-term liabilities |
211,701 | 180,757 | ||||||
Total long-term liabilities |
795,393 | 698,735 | ||||||
Total liabilities |
1,726,328 | 1,933,050 | ||||||
Minority interests |
1,600 | 1,288 | ||||||
Shareholders equity: |
||||||||
Common stock |
949,680 | 949,680 | ||||||
Additional paid-in capital |
948,571 | 948,571 | ||||||
Retained earnings |
3,038,166 | 2,793,814 | ||||||
Accumulated other comprehensive income (loss) |
(22,727 | ) | 410 | |||||
Treasury stock, at cost |
(467,827 | ) | (415,979 | ) | ||||
Total shareholders equity |
4,445,863 | 4,276,496 | ||||||
Commitments and contingencies |
||||||||
Total liabilities, minority interests and shareholders equity |
¥ | 6,173,791 | ¥ | 6,210,834 | ||||
1
Millions of yen | ||||
Six months ended | ||||
September 30, 2008 | ||||
Operating revenues: |
||||
Wireless services |
¥ | 1,948,540 | ||
Equipment sales |
319,244 | |||
Total operating revenues |
2,267,784 | |||
Operating expenses: |
||||
Cost of services (exclusive of items shown separately below) |
413,731 | |||
Cost of equipment sold (exclusive of items shown separately below) |
408,027 | |||
Depreciation and amortization |
348,387 | |||
Selling, general and administrative |
520,693 | |||
Total operating expenses |
1,690,838 | |||
Operating income |
576,946 | |||
Other income (expense): |
||||
Interest expense |
(2,398 | ) | ||
Interest income |
1,045 | |||
Other, net |
(15,437 | ) | ||
Total other income (expense) |
(16,790 | ) | ||
Income before income taxes, equity in net income of affiliates and minority interests |
560,156 | |||
Income taxes: |
||||
Current |
233,831 | |||
Deferred |
(14,434 | ) | ||
Total income taxes |
219,397 | |||
Income before equity in net income of affiliates and minority interests |
340,759 | |||
Equity in net income of affiliates, net of applicable taxes |
5,921 | |||
Minority interests |
(21 | ) | ||
Net income |
¥ | 346,659 | ||
Other comprehensive income (loss): |
||||
Unrealized holding losses on available-for-sale securities, net of applicable taxes |
(5,946 | ) | ||
Net revaluation of financial instruments, net of applicable taxes |
(159 | ) | ||
Foreign currency translation adjustment, net of applicable taxes |
(16,670 | ) | ||
Pension liability adjustment, net of applicable taxes |
(362 | ) | ||
Comprehensive income |
¥ | 323,522 | ||
PER SHARE DATA |
||||
Weighted average common shares outstanding Basic and Diluted (shares) |
42,406,379 | |||
Basic and diluted earnings per share (yen) |
¥ | 8,174.69 | ||
2
Millions of yen | ||||
Three months ended | ||||
September 30, 2008 | ||||
Operating revenues: |
||||
Wireless services |
¥ | 971,077 | ||
Equipment sales |
126,461 | |||
Total operating revenues |
1,097,538 | |||
Operating expenses: |
||||
Cost of services (exclusive of items shown separately below) |
210,117 | |||
Cost of equipment sold (exclusive of items shown separately below) |
165,979 | |||
Depreciation and amortization |
179,907 | |||
Selling, general and administrative |
261,078 | |||
Total operating expenses |
817,081 | |||
Operating income |
280,457 | |||
Other income (expense): |
||||
Interest expense |
(1,258 | ) | ||
Interest income |
479 | |||
Other, net |
(7,941 | ) | ||
Total other income (expense) |
(8,720 | ) | ||
Income before income taxes, equity in net income of affiliates and minority interests |
271,737 | |||
Income taxes: |
||||
Current |
131,300 | |||
Deferred |
(29,902 | ) | ||
Total income taxes |
101,398 | |||
Income before equity in net income of affiliates and minority interests |
170,339 | |||
Equity in net income of affiliates, net of applicable taxes |
2,797 | |||
Minority interests |
13 | |||
Net income |
¥ | 173,149 | ||
Other comprehensive income (loss): |
||||
Unrealized holding losses on available-for-sale securities, net of applicable taxes |
(4,996 | ) | ||
Net revaluation of financial instruments, net of applicable taxes |
(141 | ) | ||
Foreign currency translation adjustment, net of applicable taxes |
1,852 | |||
Pension liability adjustment, net of applicable taxes |
(112 | ) | ||
Comprehensive income |
¥ | 169,752 | ||
PER SHARE DATA |
||||
Weighted average common shares outstanding Basic and Diluted (shares) |
42,309,587 | |||
Basic and diluted earnings per share (yen) |
¥ | 4,092.43 | ||
3
Millions of yen | ||||
Six months ended | ||||
September 30, 2008 | ||||
Cash flows from operating activities: |
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Net income |
¥ | 346,659 | ||
Adjustments to reconcile net income to net cash provided by operating activities |
||||
Depreciation and amortization |
348,387 | |||
Deferred taxes |
(10,898 | ) | ||
Loss on sale or disposal of property, plant and equipment |
12,846 | |||
Other than temporary impairment of marketable securities and other
investments |
19,855 | |||
Equity in net income of affiliates |
(9,940 | ) | ||
Minority interests |
21 | |||
Changes in assets and liabilities: |
||||
(Increase) in accounts receivable |
(38,453 | ) | ||
(Decrease) in allowance for doubtful accounts |
(1,369 | ) | ||
(Increase) in inventories |
(38,833 | ) | ||
(Increase) in prepaid expenses and other current assets |
(19,259 | ) | ||
(Increase) in installment receivables for handsets (non-current) |
(40,010 | ) | ||
(Decrease) in accounts payable, trade |
(184,322 | ) | ||
(Decrease) in accrued income taxes |
(8,701 | ) | ||
(Decrease) in other current liabilities |
(21,153 | ) | ||
Increase in liability for employees retirement benefits |
4,622 | |||
Increase in other long-term liabilities |
32,445 | |||
Other, net |
16,474 | |||
Net cash provided by operating activities |
408,371 | |||
Cash flows from investing activities: |
||||
Purchases of property, plant and equipment |
(302,124 | ) | ||
Purchases of intangible and other assets |
(115,158 | ) | ||
Purchases of non-current investments |
(46,913 | ) | ||
Proceeds from sale of non-current investments |
550 | |||
Purchases of short-term investments |
(3,334 | ) | ||
Redemption of short-term investments |
2,494 | |||
Proceeds from redemption of long-term bailment for consumption
to a related party |
50,000 | |||
Other, net |
(9,287 | ) | ||
Net cash used in investing activities |
(423,772 | ) | ||
Cash flows from financing activities: |
||||
Proceeds from long-term debt |
79,944 | |||
Repayment of long-term debt |
(28,241 | ) | ||
Proceeds from short-term borrowings |
200 | |||
Repayment of short-term borrowings |
(1,958 | ) | ||
Principal payments under capital lease obligations |
(1,385 | ) | ||
Payments to acquire treasury stock |
(51,848 | ) | ||
Dividends paid |
(102,307 | ) | ||
Other, net |
(4 | ) | ||
Net cash used in financing activities |
(105,599 | ) | ||
Effect of exchange rate changes on cash and cash equivalents |
(2,071 | ) | ||
Net (decrease) in cash and cash equivalents |
(123,071 | ) | ||
Cash and cash equivalents at beginning of period |
646,905 | |||
Cash and cash equivalents at end of period |
¥ | 523,834 | ||
Supplemental disclosures of cash flow information: |
||||
Cash received during the period for: |
||||
Income taxes |
¥ | 17,786 | ||
Cash paid during the period for: |
||||
Interest, net of amount capitalized |
2,008 | |||
Income taxes |
266,295 |
4
1. | Basis of Presentation: |
2. | Summary of significant accounting and reporting policies: |
5
3. | Shareholders equity: |
Number of issued | Number of treasury | |||||||
shares | stock | |||||||
As of March 31, 2008 |
44,870,000 | 2,242,073 | ||||||
Acquisition of treasury stock
based on the resolution by the
general meeting of shareholders |
| 311,322 | ||||||
Acquisition of fractional shares |
| 1 | ||||||
As of June 30, 2008 |
44,870,000 | 2,553,396 | ||||||
Acquisition of treasury stock
at the request of dissenting
shareholders against the merger |
| 11,711 | ||||||
Acquisition of fractional shares |
| 3 | ||||||
As of September 30, 2008 |
44,870,000 | 2,565,110 | ||||||
6
Share/Millions of yen | ||||||||
Six months ended | Three months ended | |||||||
September 30, 2008 | September 30, 2008 | |||||||
Aggregate number of shares repurchased |
323,037 shares | 11,714 shares | ||||||
Aggregate price of shares repurchased |
¥ | 51,848 | ¥ | 1,851 |
Yen | ||||||||
Six months ended | Three months ended | |||||||
September 30, 2008 | September 30, 2008 | |||||||
Basic and diluted earnings per share |
¥ | 8,174.69 | ¥ | 4,092.43 |
Yen | ||||||||
September 30, 2008 | March 31, 2008 | |||||||
Shareholders equity per share |
¥ | 105,091.00 | ¥ | 100,321.46 |
4. | Segment reporting: |
7
Millions of yen | ||||||||||||
Three months ended | Mobile phone | Miscellaneous | ||||||||||
September 30, 2008 | business | businesses | Consolidated | |||||||||
Operating revenues |
¥ | 1,081,720 | ¥ | 15,818 | ¥ | 1,097,538 | ||||||
Operating expenses |
795,162 | 21,919 | 817,081 | |||||||||
Operating income (loss) |
¥ | 286,558 | ¥ | (6,101 | ) | ¥ | 280,457 | |||||
Millions of yen | ||||||||||||
Six months ended | Mobile phone | Miscellaneous | ||||||||||
September 30, 2008 | business | businesses | Consolidated | |||||||||
Operating revenues |
¥ | 2,236,491 | ¥ | 31,293 | ¥ | 2,267,784 | ||||||
Operating expenses |
1,648,917 | 41,921 | 1,690,838 | |||||||||
Operating income (loss) |
¥ | 587,574 | ¥ | (10,628 | ) | ¥ | 576,946 | |||||
5. | Contingencies: |
8
6. | Subsequent event: |
9