Financial Highlights

Full-year forecasts: Updated on January 27, 2012

Data is available in both PDF and Excel formats.

• (Open a PDF file)Financial Data (BS,PL,CF) (PDF format: 103KB) 3 pages
• (Open an Excel file)Financial Data (BS,PL,CF) (Excel format: 53.0KB) 3 pages

Consolidated Statements of Income

(Billions of yen)

		3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.) (Revised)
Operating revenues1		4,788.1	4,711.8	4,448.0	4,284.4	4,224.3	4,240.0
	Wireless services	4,314.1	4,165.2	3,841.1	3,776.9	3,746.9	3,742.0
	Equipment sales	474.0	546.6	606.9	507.5	477.4	498.0
Operating expenses1		4,014.6	3,903.5	3,617.0	3,450.2	3,379.5	3,370.0
Operating income		773.5	808.3	831.0	834.2	844.7	870.0
Income before income taxes		772.9	800.7	780.5	836.2	835.3	874.0
Net income		457.3	491.3	471.4	497.1	492.0	-
Less: Net (income) loss attributable to noncontrolling interests2		(minus0.0)	(minus0.1)	0.5	(minus2.3)	(minus1.5)	-
Net income attributable to NTT DOCOMO, INC.		457.3	491.2	471.9	494.8	490.5	474.0

1 Effective April 1, 2002, we adopted the accounting pronouncement issued in November 2001 relating to accounting for consideration given by a vendor to a customer (including a reseller of the vendor's products).
The effects in operating revenue and operating expenses due to the adoption this accounting pronouncement are as follows:

(Billions of yen)

	3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.)
Decrease of equipment sales revenues in operating revenues	790.5	654.8	253.5	219.6	234.6	-
Decrease of equipment sales related expenses in operating expenses	790.9	688.9	265.3	219.3	235.2	-

2 Effective April 1, 2009, we adopted the accounting pronouncement issued in December 2007 relating to noncontrolling interests in consolidated financial statements. Upon the adoption, "Net income" includes "Net income or loss attributable to noncontrolling interests", which was previously referred to as "Minority interests" and deducted from "Net income", for the fiscal year ended March 31, 2010.
Accordingly, "Net income", and "Net income or loss attributable to noncontrolling interests" for the fiscal year ended March 31, 2001 to 2009 is calculated in the same manner as those for the fiscal year ended March 31, 2010.

	3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.) (Revised)
Operating income margin1	16.2%	17.2%	18.7%	19.5%	20.0%	20.5%
Net income margin2	9.6%	10.4%	10.6%	11.5%	11.6%	11.2%
EBITDA margin3	32.9%	34.8%	37.7%	36.6%	37.1%	37.3%

• 1 Operating income / Operating revenues
• 2 Net income attributable to NTT DOCOMO, INC. / Operating revenues
• 3 EBITDA (Operating income + Depreciation and amortization expenses + Losses on sale or disposal of property, plant and equipment) / Operating revenues

Please see Reconciliations of the Non-GAAP Financial Measures for details of the calculation process.

Operating revenues

Operating income and Operating income margin

Net income attributable to NTT DOCOMO, INC. and Net income margin

EBITDA margin

Consolidated Balance Sheets

(Billions of yen)

	3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.)
Total assets	6,116.2	6,210.8	6,488.2	6,756.8	6,791.6	-
Interest bearing liabilities	603.0	478.5	639.2	610.3	428.4	-
NTT DOCOMO, INC. shareholders' equity	4,161.3	4,276.5	4,341.6	4,635.9	4,850.4	-

Margin of safety

	3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.)
Debt ratio1	12.7%	10.1%	12.8%	11.6%	8.1%	-
Equity ratio2	68.0%	68.9%	66.9%	68.6%	71.4%	-

• 1 Interest bearing liabilities / (Interest bearing liabilities + NTT DOCOMO, INC. shareholders' equity)
• 2 NTT DOCOMO, INC. shareholders' equity / Total assets

Total assets

NTT DOCOMO, INC. shareholders' equity and Equity ratio

Interest bearing liabilities and Debt ratio

Consolidated Statements of Cash Flows

(Billions of yen)

	3/2007	3/2008	3/2009	3/2010	3/2011	3/2012 (Est.) (Revised)
Cash flows from operating activities	980.6	1,560.1	1,173.7	1,182.8	1,287.0	1,049.0
Cash flows from investing activities	(minus947.7)	(minus758.8)	(minus1,031.0)	(minus1,163.9)	(minus455.4)	(minus759.0)
Free cash flows1	32.9	801.3	142.7	18.9	831.7	290.0
Adjusted free cash flows (excluding Irregular factors2 and Changes in investments for cash management purposes3)	192.2	442.4	93.4	416.9	589.8	460.0

• 1 Cash flows from operating activities + Cash flows from investing activities
• 2 Irregular factors:The effects of uncollected revenues due to bank closures at the end of periods.
• 3 Changes in investments for cash management purposes:The Changes derived from purchases, redemption at maturity and disposals of financial instruments held for cash management purposes with original maturities of longer than three months. There is no forecast for Changes in investments for cash management purposes for the year ending March 31, 2012 due to difficulties in forecasting the effect.

Please see Reconciliations of the Non-GAAP Financial Measures for details of the calculation process.

Cash flows from operating activities and Cash flows from investing activities

Adjusted free cash flows (excluding Irregular factors and Changes in investments for cash management purposes)

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