April 10,2024

KDDI CORPORATION

KDDI announced today at the Tokyo Stock Exchange a timely disclosure of the downward revision of the financial forecast for the fiscal year ending March 2024. As stated in the timely disclosure, the entire fiscal year forecast for operating income was revised from 1.08 trillion yen to 950 billion yen, a decrease of 130 billion yen. In addition, in accordance with this, the profit for the period attributable to the owners of the parent was also revised from 680 billion yen to 635 billion yen.

The background to this response is that we anticipate the impact of provisions for lease receivables against Myanma Posts and Telecommunications (MPT) at KDDI Summit Global Myanmar Co., Ltd., a consolidated subsidiary of our company, as well as impairment and provisions for the removal of underutilized telecommunications equipment.

While these measures will temporarily worsen our performance, we view them as necessary for ensuring steady growth beyond the fiscal year ending in March 2025, by flexibly responding to changes in the external environment. Moreover, this is an accounting treatment that does not involve cash outflows, and it will not impact the cash flow for the fiscal year ending in March 2024. As for our performance in areas other than the Myanmar telecommunications business, progress is being made smoothly.

In addition, we will continue to strive for the collection of the lease receivables for which we have made provisions this time.

The KDDI Group has set forth the KDDI VISION 2030, which states, "The creation of a society in which anyone can make their dreams a reality, by enhancing the power to connect." We will continue to promote the practice of 'Sustainability Management', which aims for the sustainable growth in society and the corporate value improvement achieved together with our partners, and the 'Satellite Growth Strategy', which aims to advance the 5G-driven evolution of our telecommunications business and the expansion of the focus areas with telecommunications at the core.

In the fiscal year ending March 2025, the whole company will work together to recover our performance and aim for sustainable growth.

We would like to ask for your continued support for the KDDI Group.

KDDI CORPORATION
Makoto Takahashi
President, Representative Director, CEO

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KDDI Corporation published this content on 10 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 April 2024 06:38:04 UTC.