Japan's NTT reveals dismal performance

Japan's NTT reported a 30 percent decline in full-year net profit, citing weakness at both its mobile-phone and fixed-line businesses. NTT said its net profit for the year ended March 31 fell to $4.54 billion from $6.4 billion a year earlier. The mobile business could offset the dramatic losses at NTT's fixed-line voice business. NTT DoCoMo has been struggling in a super-saturated mobile market, with competition ever increasing as Softbank plugs more money into the mobile business it recently purchased from Vodafone.

To read more about NTT's financial results:
- take a look at this article from The Wall Street Journal (sub. req.)