NTT DoCoMo Inc. on Tuesday reported its first decline in both profit and revenue since it went public in 1998, after resorting to aggressive discount programs to lure subscribers.

For the year ended in March, the company's operating profit fell 29 percent to 784.17 billion yen on revenue of 4.84 trillion yen, down 4 percent. Net profit rose by 15 percent, due mostly to gains from sales of AT&T Wireless Services shares.

Japan's largest mobile phone carrier forecasts a continued shrinkage in revenue for the current year but projects growth in operating profit thanks to cost-cutting.