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NTT Corporation - Company Report
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Company Reports are concise reports that provide a review of the company's activities, corporate strategy and recent developments.
Nippon Telegraph and Telephone Corp (NTT) is one of the oldest telecommunications carriers in Japan, having been created in 1952 to provide domestic local and long-distance telephone services. A separate carrier, KDD Corporation (now KDDI), was created at the same time to provide international services. The liberalisation of the Japanese telecommunications industry in April 1985 saw this duopoly swept away by the licensing of large numbers of new carriers - designated Type-I or Type-II, according to whether or not they provide their own networks for their services. NTT is a Type-I carrier. Further liberalisation allowed NTT to enter the international long-distance market, through its NTT Communications (NTT Com) subsidiary, while KDDI has been allowed to compete in the local/regional fixed-line market. NTT is the largest provider of fixed and mobile voice transmission, data transmission, leased circuit, telecommunications equipment sales, systems integration, and other telecommunications services in Japan. The principle businesses of NTT and its affiliates cover regional communications services (NTT East and NTT West), long-distance and international communications services (including NTT Com), mobile communications services (NTT DoCoMo), and data communications services (NTT Data Corp). As of September 30, 2004, the government of Japan owned approximately 45.95% of the issued and outstanding shares of NTT Corp. The government, together with other public bodies, owned 46.07% shares, while financial institutions owned about 14.82% shares of the company. Since that time, NTT has been buying back its own shares, thereby reducing the government’s stake in the company. The company planned to buy around ¥100 billion worth of its own shares. In May 2005, the Japanese government was reported to be planning to further reduce its stake in NTT through the sale of part of its stake directly to the operator. As of May 2005, the government and public bodies owned 40.96% of NTT.
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