Japan's mobile phone giant NTT DoCoMo said today that its net profit jumped 45% to 356.51 billion yen ($3.04 billion) in the year to March due to huge Internet growth.
'The wireless communications market achieved a higher growth rate than the previous year, thanks to the explosive demand for data communications services, including DoCoMo's i-mode and other forms of mobile Internet access,' the company said in a statement.
DoCoMo's revenue rose 26% to 4,686 billion yen and pre-tax profit rose 36.5% to 686.92 billion yen. Mobile subscriptions in Japan reached 66.78 million at the end of March and penetration rates increased to over 50% of the total population, the company said.
The company forecast net profit of 390 billion yen for the year to March 2002 on revenue of 5,297 billion yen. Despite earlier signs of a economic recovery the Japanese economy remained sluggish, the company said.
