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Last updated : May 11, 2012

		2008.3	2009.3	2010.3	2011.3	2012.3
		Fiscal year
Earnings per Share (EPS) (1)	yen	46,107	400	372	385	367
Shareholders' Equity per Share (BPS) (2)	yen	543,361	5,515	5,886	6,062	6,441
Devidends per Share	yen	9,000	110	120	120	140
Operating Income Margin (3)		12.2%	10.7%	11.0%	11.8%	11.6%
Income before Income Taxes Margin (4)		12.4%	10.6%	11.0%	11.4%	11.8%
Return on Equity (ROE) (5)		8.7%	7.3%	6.5%	6.4%	5.9%
Return on capital employed (ROCE, after tax effect) (6)		6.4%	5.4%	5.4%	5.8%	5.8%
Return on Assets (ROA) (7)		7.2%	5.9%	5.9%	6.1%	6.3%
Debt Ratio (8)		38.7%	40.2%	36.6%	36.2%	35.2%
Equity Ratio (9)		40.0%	38.8%	41.1%	40.8%	40.7%
EBITDA Margin (10)		33.8%	32.4%	31.8%	31.9%	30.6%
Operating FCF (11)	Billions of yen	1,478.1	1,224.8	1,253.7	1,412.1	1,272.5

Notes:Consolidated figures for "Earnings per share (EPS)" ,"Shareholders' equity per share (BPS)","Income before Income Taxes Margin", "Return on equity (ROE)", "ROCE", "Return on Asset(ROA)", "Debt ratio"and "Equity ratio"under "NTT Consolidated (US GAAP)" for the fiscal year ended March 31, 2007, have been adjusted to reflect the retroactive application of equity method accounting for an affiliate that newly became subject to application of the equity method as a result of additional share acquisitions during the fiscal year ended March 31, 2008.

(1)Net Income Attributable to NTT / weighted average number of shares outstanding
(2)Shareholders' equity / number of shares outstanding
(3)Operating income / Operating revenues x 100
(4)Income before income taxes / Operating revenues x 100
(5)Net Income Attributable to NTT / Shareholders' equity (*1) x 100
(6)Operating income x (1 - Effective tax rate) / Operating capital employed (*2) x 100
(7)Income before income taxes / Total assets (*3) x 100
(8)Interest-bearing liabilities / (Interest-bearing liabilities + Shareholders' equity) x 100
(9)Shareholders' equity / Total assets x100
(10)(Operating income + Depreciation and loss on disposal of property, plant and equipment) / Operating revenues x 100
(11)(Operating income + Depreciation and loss on disposal of property, plant and equipment) - Capital investment (*4)

(*1)Shareholders' equity is the average of two fiscal yearends.
(*2)Operating capital employed is the total of the average value of shareholders' equity and interest-bearing liabilities for the current term and the previous term.
(*3)Total assets are the average of two fiscal yearends.
(*4)Because the figures for capital expenditures are accrual-based amounts required for the acquisition of fixed assets and intangibles, there are differences in the figures for "Payments for property, plant and equipment" and "Acquisition of intangible and other assets" in the consolidated statements of cash flows.

For reconciliations of these Non-GAAP financial measures, click here