
NTT (Consolidated) refers to the consolidated financial results of NTT Group's 474 consolidated subsidiaries and 85 companies accounted for as affiliates under the equity method. The five main subsidiaries referred to herein are Nippon Telegraph and Telephone East Corporation (“NTT East”), Nippon Telegraph and Telephone West Corporation (“NTT West”), NTT Communications Corporation (“NTT Com”), NTT DATA Corporation (“NTT DATA”) and NTT DOCOMO, Inc. (“NTT DOCOMO”).

The forward-looking statements and projected figures concerning the future performance of Nippon Telegraph and Telephone Corporation (“NTT”) contained or referred to herein are based on a series of assumptions, projections, estimates, judgments and beliefs of the management of NTT in light of information currently available to it regarding the economy and telecommunications industry in Japan, overseas and other factors. These projections and estimates may be affected by the future business operations of NTT, the state of the economy in Japan and abroad, possible fluctuations in the securities markets, the pricing of services, the effects of competition, the performance of new products, services and new businesses, changes to laws and regulations affecting the telecommunications industry in Japan and elsewhere, other changes in circumstances that could cause actual results to differ materially from the forecasts contained or referred to herein, as well as other risks included in NTT's most recent Annual Report on Form 20-F and other filings and submissions with the United States Securities and Exchange Commission.