Tax write-down hits NTT profit

The Japanese telecoms group NTT has reported a 56% year-on-year drop in profit for the three months ended 31 December 2011 to JPY62.76 billion (USD819.3 million). The fall in profit was due to a write-down of the value of deferred tax assets.

See more here:

OVETEL Tax write-down hits NTT profit