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May 9, 2025

CEO Press Conference

Announcement of New Corporate Identity (CI) and FY2024 Financial Results

Akira Shimada, President and CEO, Representative Member of the Board
(Attendees)
Toshihiko Nakamura, Senior Vice President, Head of Finance and Accounting
Akitoshi Hattori, Senior Vice President, Head of Corporate Strategy Planning

Photo of press conference with President

(CEO Shimada)

We are pleased to announce the introduction of a new Corporate Identity (CI), with the aim of strengthening the global brand of the NTT Group.

To begin, I would like to explain the background behind this change. Since the privatization of the NTT Group in 1985, forty years have passed. During that time, we have expanded our business scope from domestic fixed-line services to include mobile communications and IT, as well as operations overseas. However, there has come to be a considerable gap between our company's name, "Nippon Telegraph and Telephone," which was established at the time of privatization, and the actual content of our current business. In particular, this gap has become a major factor hindering recognition of our brand in global markets.

Amid increasingly intense competition worldwide, it is essential that we clearly present the technological capabilities and strengths of the NTT Group under a unified brand concept, both domestically and internationally. It was from this perspective that we decided to revise our group CI.

The first point of this new CI is the revision of our company name and logo. Our new official company name will be "NTT Inc." By adopting the abbreviation "NTT," which is already widely recognized both in Japan and abroad, as our formal name, we aim to accelerate our global expansion. The new corporate logo will consist of the NTT Group's symbolic "Dynamic Loop" and a logotype of the company name.
　The "Dynamic Loop," introduced in 1985, is a single curved line that expresses our dynamism. The small loop at the top symbolizes our commitment to always listen closely to the voices of our customers and society, using that input as the starting point for our corporate activities and contributing broadly to society. This symbol has already gained widespread acceptance both inside and outside the company, and has been well received by our overseas employees as well. We will continue to use it as the unified symbol of the NTT Group brand in our new logo design.
　For the logotype of the company name, we are adopting the font currently used overseas, and changing the color from black to blue.

The second point is the unification of the NTT Group's corporate brand. In conjunction with this CI renewal, the major operating companies—NTT EAST, NTT WEST, NTT Urban Solutions, and NTT Anode Energy—will also adopt the new corporate logo design. The NTT DOCOMO Group will incorporate red, a color strongly associated with the brand in Japan, into the Dynamic Loop and use it in their new corporate logo. In addition, subsidiaries such as NTT Communications and NTT Comware will change their company names and adopt the new logo, further strengthening the group brand in Japan.

The third point is the establishment of the "NTT Group's Core" and "NTT Group's Values." The "NTT Group's Core" is a vision that updates the statement we formulated in 1985 to reflect changes in the market environment, and redefines the ideal direction of the NTT Group. The message is as follows: "To contribute to enriched lives and a sustainable future for the planet, we will place our customers at the heart of our ideas, continue to innovate ourselves, and aim to be a corporate group that brings about dynamic change in society." In English, we express this vision as: "Innovating a Sustainable Future for People and Planet."
　Our "Values" are three core principles: "Act with Integrity," "Build Trust," and "Create Connections." These are a redefinition of the shared values we have upheld since 2018, now revised in a form that can be more naturally integrated into employees' everyday work.
　We plan to officially adopt this new CI starting on July 1, following the resolution for the company name change at the General Shareholders' Meeting scheduled for June 19.

With this renewal of our Corporate Identity, the NTT Group will further enhance its brand as a global enterprise and accelerate efforts to improve customer experience (CX) by fully utilizing cutting-edge technologies such as IOWN and AI.
　We sincerely appreciate your continued support for NTT Inc.

I would now like to explain the financial results for fiscal year 2024 and our forecasts for fiscal year 2025.

For the fiscal year 2024 consolidated financial results, we recorded an increase in revenue and a decrease in profit compared to the previous fiscal year. Operating revenue reached an all-time high. Specifically, operating revenue increased by 330.2 billion yen year-on-year to 13.7047 trillion yen, driven by increased revenue from the NTT DATA Group and growth in the Smart Life business of NTT DOCOMO. Of this increase, the impact of exchange rates accounted for approximately 140 billion yen.
　As for profit, although both the NTT DATA Group and the Smart Life business saw increased earnings, there was a decrease in telecommunications service revenue in mobile and fixed-line businesses. In addition, NTT DOCOMO implemented measures to strengthen its customer base and improve the quality of its mobile network. The rebound effect from the previous year's disposal of non-core assets also impacted results. As a result, EBITDA declined by 178.9 billion yen year-on-year to 3.2393 trillion yen, operating profit decreased by 273.3 billion yen to 1.6496 trillion yen, and net income dropped by 279.5 billion yen to 1 trillion yen, reflecting a decline in operating profit and the absence of gains from stock sales recorded in the previous year.
　Looking at revenue and profit by segment, in the Integrated ICT business segment, despite a decline in mobile service revenue, overall revenue increased year-on-year due to growth in the Smart Life business, especially in financial and payment services. Although we achieved increased profit in the Smart Life business and implemented various measures to improve cost efficiency, profit declined year-on-year as we expanded initiatives to strengthen the customer base and improve network quality. As a result of these efforts, mobile number portability (MNP) performance is now steadily showing positive results.
　In the regional communications segment, revenue and profit both declined year-on-year due to reduced network service revenue and the rebound effect from the disposal of non-core assets in the previous fiscal year. However, the number of net additions in fiber-optic services increased year-on-year, supported by strong sales of the 10Gbps plan and bulk plans for apartment complexes.
　The global solutions segment recorded year-on-year growth in both revenue and profit. Revenue increased due to strong demand for digitalization in Japan and the positive effects of exchange rates, which also contributed to profit growth.
　In the "Others" segment, which includes real estate and energy, revenue increased year-on-year, driven by growth in data center engineering at NTT Urban Solutions. However, profit decreased due to the absence of one-time gains from asset sales recorded in the previous fiscal year.

Now, turning to our fiscal year 2025 earnings forecast, we are projecting an increase in both revenue and profit compared to the previous year. We expect operating revenue to increase across all segments, led by growth in the Global Solutions and Integrated ICT business segments, and aim to achieve a new record high.
　For EBITDA, operating profit, and net profit, we will continue to implement measures to strengthen our customer base and improve the quality of our mobile network, aiming to enhance competitiveness. At the same time, we will also promote cost-reduction measures to ease the financial burden this fiscal year, as part of our efforts to expand profits in the medium term.
　In addition to profit growth in the Smart Life and enterprise businesses, we plan to realize gains from investments in the data center business by utilizing REITs, which will contribute to increased profit year-on-year.
　We consider fiscal year 2025 to be a critical year to accelerate various measures aimed at achieving our medium-term targets for fiscal year 2027. Accordingly, we will actively implement initiatives for medium-term profit growth.
　Regarding revenue and profit by segment, in the Integrated ICT business segment, we anticipate revenue growth due to the expansion of the Smart Life and enterprise businesses. However, we are planning for a year-on-year decline in profit, as we continue initiatives such as customer base enhancement, network quality improvements, and cost-reduction measures for future years to support medium-term growth. With the introduction of new rate plans in June, we aim to build a stronger customer base and work toward improving profits in the medium term.
　In the regional communications segment, while we expect declines in fixed voice-related revenue and cost reductions at NTT WEST, we project year-on-year increases in both revenue and profit due to the expansion of base profits from increases in fiber-optic service and system integration revenue.
　In the global solutions segment, we anticipate continued revenue growth driven by digitalization demand, as well as profit growth through data center sales utilizing REITs, resulting in year-on-year increases in both revenue and profit.
　In the "Others" segment, while revenue is expected to increase due to expanded housing sales at NTT Urban Solutions, profit is projected to decline year-on-year due to the rebound from the one-time gains on asset sales at NTT Anode Energy recorded in the previous year.

Next, I would like to explain our initiatives to achieve our medium-term targets. Since announcing our medium-term management strategy, we have consistently made proactive investments in growth areas such as data centers and the Smart Life business to expand future profits. In fiscal year 2025—the midpoint toward achieving our fiscal year 2027 financial goals—we will continue making high-level growth investments and steadily execute the planned 8 trillion yen investment announced in the medium-term strategy.
　Toward fiscal year 2027, we aim to accelerate profit growth by realizing the outcomes of our past investments. We will also strengthen efforts to expand our domestic and global enterprise business by leveraging group synergies, and pursue fundamental cost structure reforms through initiatives such as the use of AI. Through these measures, we aim to increase profit and achieve our EBITDA target for fiscal year 2027.

Finally, I would like to touch on four key topics.

First, regarding our governance reforms, we plan to appoint Mr. Patrizio Mapelli, who brings deep experience in managing and advising global ICT companies, as a new member of our Board of Directors, to further strengthen our global business. Additionally, as announced in March, we plan to transition from a company with an Audit & Supervisory Board to a company with an Audit & Supervisory Committee. This change is intended to enhance the monitoring function of the Board and deepen strategic discussions on management policy. Through these changes, we will work to further strengthen our governance system.

Second, on shareholder returns, our Board of Directors today resolved to forecast a full-year dividend of 5.3 yen per share for fiscal year 2025—an increase of 0.1 yen from the previous year. This would mark the 15th consecutive year of dividend increases since fiscal year 2011. We also plan to repurchase up to 200 billion yen worth of our own shares to improve capital efficiency and enhance shareholder returns.
　Regarding our shareholder structure, as shown in the graph on the left, the number of shareholders has tripled from before the stock split to a record high of 2.68 million. There has been significant growth in shareholders across all age groups, especially among younger generations and those in their 50s, contributing to a more diverse shareholder base. The proportion of voting rights held by individual shareholders is also increasing.

The status of progress on the initiatives outlined in our medium-term management strategy since February is as shown.
　That concludes my explanation.

Q&A

In the past few days, you've announced several initiatives including the full acquisition of NTT DATA Group, a formal change to your company name, and the appointment of a foreign board member. What overarching message ties all of these moves together?

The core message underlying these various announcements is our commitment to building a unified and globally competitive NTT Group.
The new corporate identity logo we've introduced uses the same typeface as NTT DATA. Internationally, we've been using this combination of the Dynamic Loop and the NTT DATA font since October 2022. In that sense, you could say we're reimporting a globally recognized brand identity into Japan. This reflects our strong intention to align our corporate colors and branding with a global perspective.
When I travel abroad for events, I often see our name written as "Nippon Telegraph and Telephone Corporation," which doesn't resonate with international audiences. Domestically, due to legal constraints in the past, some group companies used katakana for their names while others used Roman letters—like NTT DOCOMO. As a result, our branding lacked consistency across the group, and that's something we've been eager to resolve.
For instance, NTT DOCOMO has a well-established brand image centered on the color red. That's why we're keeping the logo and typeface red for DOCOMO. NTT Communications, now under DOCOMO's umbrella, will be rebranded as NTT DOCOMO Business to reflect its role in serving enterprise customers. Similarly, NTT Comware will be renamed NTT DOCOMO Solutions. These steps are part of a broader effort to bring clarity and cohesion to the entire group structure and brand.
Compared to fiscal year 2023, NTT saw a significant decline in profits in FY2024, and the outlook for FY2025 suggests only a modest recovery. Can you explain the reasons behind this and how the company plans to expand its earnings over the medium to long term?

In FY2024, operating profit fell short of our original plan by about 160 billion yen. The main reason was a similar-sized shortfall in NTT DOCOMO's performance. Since taking the helm as CEO of NTT DOCOMO, CEO Yoshiaki Maeda has placed strong emphasis on investments in marketing and network quality. As a result, the second half of FY2024 saw a continued net increase in mobile number portability (MNP), and network quality steadily improved.
That said, many of the infrastructure projects aimed at quality improvement were concentrated toward the end of the fiscal year. We relied heavily on the support of our group companies to carry them out under tight timelines, and there were moments when we weren't even sure if we could complete everything. In FY2025, we plan to go beyond the scheduled number of projects and implement any additional improvements that can enhance quality.
On the marketing front, we also continued our investments through to the end of the fiscal year—whereas in the past, we might have scaled back in the final quarter. This drove up costs, but it also created a strong sense of commitment among employees, shop staff, and group partners, all of whom went above and beyond to support quality improvements.
In that sense, while we could have revised our earnings outlook toward the end of the year, we chose instead to press forward, and that led to a greater-than-expected decline in profit.
We plan to continue these initiatives into FY2025, during which NTT DOCOMO is once again forecasting a year-on-year decline in earnings. Meanwhile, NTT EAST and NTT WEST have begun showing positive momentum. Their enterprise business is expanding, and in FY2024 we saw a net increase of approximately 130,000 fiber-optic subscriptions. So we feel that a solid foundation is taking shape.
As a result, while modest, we are aiming for year-on-year growth in both revenue and profit. One contributor to this is NTT DATA, which has established a REIT in Singapore that is expected to generate around 150 billion yen in profit. These kinds of factors have been factored into our overall consolidated plan.
Looking ahead, we believe FY2025 will mark the bottom for NTT DOCOMO's earnings. We've already accounted for certain future cost burdens, and at NTT WEST, we're also planning for a temporary decline in profits in FY2025, but with the goal of easing the burden in future years. We want to position FY2025 as a springboard for growth starting in FY2026.
At a minimum, we expect FY2027's results to exceed FY2026's, and FY2028 to surpass FY2027's. In other words, we're not anticipating any further profit declines from this point forward. We're committed to building a plan that delivers consistent profit growth.
What is your outlook on the business environment in FY2025, especially with regard to the impact of potential Trump tariffs and the current strength of the yen?

We are not a company that directly engages in import or export activities, so we don't expect to be significantly affected by tariffs. What concerns us more is the overall state of the global economy. Our key growth markets—North America and Europe—are currently facing economic slowdowns. In particular, Germany is in a difficult situation, especially in its automotive sector. Since IT business growth depends heavily on a favorable economic environment, we are somewhat concerned about these conditions.
That said, in terms of data centers—which are a key area of focus for us—market demand remains strong. Based on feedback from customers and the market, the sense we get is that capacity for construction is the bottleneck. In other words, if we had more capacity, we could build even more to meet demand. So we don't see any reason to be pessimistic about the data center business at this point.
We intend to keep up the pace and move forward with construction efforts in FY2025 to meet the strong demand.
This is the first time NTT has appointed a non-Japanese board member. What is the reason behind this decision, and what are your expectations?

During the discussions surrounding the revision of the NTT Law, we pointed out that we were not even allowed to appoint foreign nationals—no matter how capable—to board positions within the company. In line with our stance, we decided to start by appointing someone from within our group who possesses a strong understanding of global business.
As you can see from his background, Mr. Patrizio Mapelli brings extensive experience, including a career in consulting and serving as CEO of NTT DATA Italia. He has long been involved in our business across Europe and has played a key role in NTT DATA Group's global operations. Currently, he also serves on the board of NTT DATA Group.
Given his deep familiarity with the history of NTT's global business as well as the recent restructuring of our international operations, we believe he is the right person to serve as a board member of NTT Corporation. With his insights and perspectives, we hope to further enhance the capabilities and growth of the NTT DATA Group.
Looking ahead—perhaps next year or the year after—we would like to bring on multiple non-Japanese board members, including not only internal talent but also individuals from outside the company. That will be part of our future efforts to further globalize our governance structure.
Regarding the English corporate name—will "Nippon Telegraph and Telephone Corporation" no longer be used going forward?

As of July 1, 2025, we will no longer use "Nippon Telegraph and Telephone Corporation." Going forward, we will use "NTT, Inc." as our official English name.
Does the new company name "NTT" have any specific meaning?

No, "NTT" does not have any particular meaning. We simply adopted the term as it is already widely recognized and used in society.
The name "Nippon Telegraph and Telephone" has been in use since 1952, including the public corporation era. As someone who joined the company during that time, do you feel any sentiment or sense of loss about the name being retired?

Not at all. I don't feel even the slightest sense of loss. We must look to the future and continue to grow. Under the new company name, I am fully committed to uniting all 340,000 members of the NTT Group to move NTT forward.
With the NTT Data Group becoming a wholly owned subsidiary, there will be multiple group companies engaged in similar businesses such as SI, data centers, and consulting. Is there any advantage to having both NTT DATA and NTT Communications operating separately, and are there any plans for integration or restructuring in the future?

NTT DATA and NTT Communications both serve corporate clients, but the nature of their businesses is completely different. NTT DATA focuses on system integration—such as building core banking systems—whereas NTT Communications is primarily involved in constructing communication infrastructure. In that sense, they operate in different fields.
For example, if NTT DATA has a close relationship with a client, we envision a structure where NTT DATA acts as the primary contact and coordinates solutions from NTT Communications or other group companies. However, since the products and services they handle are fundamentally different, it wouldn't make sense to simply merge them.
As for data centers, while companies like NTT EAST, NTT WEST, and NTT Communications have historically owned and operated their own facilities, newly built data centers—both in Japan and overseas—are now centrally managed and operated by NTT Global Data Centers, part of the NTT DATA Group.
NTT DATA recently announced the appointment of Masanori Suzuki as the new CEO. What is the intention behind this appointment, and how would you describe Suzuki's character?

Suzuki is highly regarded by our clients and is very skilled at building strong relationships with them. I believe CEO Yutaka Sasaki of NTT DATA Group made an excellent choice. I know Suzuki well myself—he is a calm and composed individual, yet also sharp and perceptive. I'm confident that clients will be pleased with his leadership.
With the recent full acquisition of NTT DATA and ongoing group restructuring, it seems the necessity of the NTT Law is increasingly being called into question. Could you share your current thoughts on the NTT Law?

As I've consistently stated, our stance is not that the NTT Law must be abolished. Rather, we have been requesting that the legal framework be updated to reflect the times. Last year, some revisions were made, including the removal of the requirement for full disclosure of research and development and the lifting of restrictions on appointing foreign executives.
This year, the main topic of discussion has been the universal service obligation, which is a major issue under the NTT Law. We've indicated that maintaining fixed-line telephone services will become difficult around 2035, so it's crucial that we decide soon how to transition to new services without causing inconvenience to customers. From that perspective, the current legislative revision being debated is extremely important.
That said, there are still several areas that need to be addressed going forward. For example, to ensure NTT EAST and NTT WEST can continue sustainably supporting the communications infrastructure, we believe their integration should be considered to ease the burden associated with maintaining fixed-line services. On the matter of national economic security, we've also suggested that rather than placing broad restrictions only on NTT, Japan should adopt a more targeted regulatory approach—like the CFIUS framework in the U.S.—especially since other telecommunications companies now also serve large customer bases.
So, while the current bill includes a provision to revisit the matter in three years, we believe continued review is essential. We hope the law will evolve into something that better fits the modern era through ongoing discussions.
Some critics have said that NTT DOCOMO's new pricing plans include unnecessary services and effectively amount to a price increase. How do you respond to that?

It's inherently difficult to create a pricing plan that satisfies every single customer. For example, this fiscal year, KDDI CORPORATION released a plan that takes a different approach from NTT DOCOMO's. As each carrier offers various types of plans with different bundled services, I believe this will lead to a wider range of options for consumers, which is ultimately a good thing. We are now entering a new phase of competition with more diverse services and pricing models, and I expect NTT DOCOMO to continue making strong efforts in this evolving market.

NTT Group Medium-Term Management Strategy

New Value Creation & Sustainability 2027 Powered by IOWN

We announced our new NTT Group medium-term management strategy which is based on the fundamental principle "Innovating a Sustainable Future for People and Planet" in May 2023