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June 7, 2021
Nippon Telegraph and Telephone Corporation
Regarding the recent case in which members of management of Nippon Telegraph and Telephone Corporation ("NTT" or "the Company") dined with ministry officials (the "Case"), as announced by the Company on March 9, 2021(*), the Company established a Special Investigations Committee and conducted an investigation. The Company hereby announces that, on the date hereof, the Company has received a report with the results of such investigation, and further announces the Company's responses in consideration of the findings in the investigative report.
The Company once again sincerely apologizes for causing great inconvenience and concern to its customers, its shareholders and all related parties as a result of the Case. In order to prevent any reoccurrence of a similar case, the Company will wholeheartedly work to transform management into one that is appropriate for the new age.
(*) Notice Regarding the Establishment of a Special Investigations Committee (March 9, 2021 Press Release)
The investigative report was received on the date hereof. A summary of the Report is included as Exhibit 1.
On the basis of the causes of the Case and recommendations described in the Report, the Company will undertake the following responses in the future.
In the future, with respect to occurrences beyond dining events, the Company will reform its existing business style and work to transform into a new management style that is based on remote working, which is appropriate for the new age.
The treatment was made after being submitted to the Appointment and Compensation Committee meeting held today.
Information is current as of the date of issue of the individual press release.
Please be advised that information may be outdated after that point.
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