After the May 7 release of NTT DoCoMo’s full-year FY 2003 financial results, Tokyo analysts, financial consultants, and investment gurus have been churning out a steady stream of opinion and forecasts. After reporting stunning net profits of Y650 bn (about US$5.71 bn), at least some analysts predict the company is on track to return to the Y1-trillion operating profit level in FY 2004, ending 31 March 2005 (have any outside Japan achieved similar?). Among the more interesting gems: 2G average revenue per user (ARPU) was Y7,470 (Y5,570 voice, Y1,900 data; data was 25% of total) in 4Q2004, while 3G ARPU was Y10,360 (Y6,960 voice, Y3,400; data was 33% of total) for the same period. Clearly, 3G rocks! But that’s not all — read on for the predictions on how new, flat-rate data pricing will affect profits in FY2004.