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Nippon Telegraph And Telephone HY Profit Edges Down

Nippon Telegraph and Telephone Corp. (NTT) reported that its profit attributable to the company for the six months ended September 30, 2018 declined 0.8 percent to 559.73 billion yen from last year.

NTT expects to record an extraordinary gain of 599.0 billion yen in connection with sale of its shares in NTT DOCOMO. The Board of Directors resolved that NTT may acquire up to 36 million shares of its outstanding common stock for an amount in total not exceeding 150 billion yen from November 7, 2018 through March 29, 2019.

Nippon Telegraph and Telephone's operating profit for the six-month period was 1.07 trillion yen, up 3.1 percent from the previous year.

Operating revenues for the period rose 1.8 percent to 5.79 trillion yen from the prior year.

For the fiscal year ending March 31, 2019, the company still expects profit attributable to the company to be 880.0 billion yen, operating income of 1.69 trillion yen.

The company raised its annual operating revenue to 11.90 trillion yen from the prior outlook of 11.83 trillion yen.

The board of directors of NTT DOCOMO resolved to launch a tender offer to repurchase up to 257.95 million shares of its outstanding common stock between November 7, 2018 and December 7, 2018. On the same day, NTT's board of directors resolved that NTT may participate in the tender offer to sell 257.95 million shares of its current holdings of NTT DOCOMO's common stock. If NTT DOCOMO's stock repurchase results in a change in NTT's equity stake in NTT DOCOMO, NTT expects to record the transaction as a capital transaction for accounting purposes.

Separately, NTT Communications Corporation or NTT Com, announced that it will establish the NTT Global Data Centers Preparatory Corporation as the first step in creating a wholly owned subsidiary to comprehensively handle data center construction, asset management and wholesale services for NTT Group companies on a global basis. NTT Com will launch the preparatory company by the end of this December. Going forward, the envisioned data center "investment company" is expected to begin constructing data centers from April 2019.

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