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Announcement of 20 yen dividend increase and share buyback of up to 280.0 billion yen

Regarding dividends for the fiscal year ending March 31, 2012, NTT announced an increase of 20 yen from the prior fiscal year to 140 yen. This means that over the past five fiscal years, dividends have increased 50 yen, in line with the medium-term enhancement to shareholder returns promised to shareholders.
Pursuant to the basic policy on cancellation of treasury stock announced last May, one half of all treasury stock owned by NTT as of March 31, 2010 (250,923,665 shares) were cancelled during the fiscal year ended March 31, 2011, and the remainder will be cancelled during the fiscal year ending March 31, 2012. Assuming both cancellations take place, the Government will be permitted to sell 99,334,255 Shares of NTT. The Government has budgeted the sale of all of these Shares in the fiscal year ending March 31, 2012. In response to the Government’s contemplated sale of these Shares, NTT has resolved to buy back 60.0 million Shares, or an amount not to exceed 280.0 billion yen.  After this buyback, NTT could choose to buy back the remaining Shares budgeted for sale by the Government.  If the Government carries out a subsequent sale of NTT Shares to dispose of the remainder of the Shares budgeted for sale, and NTT chooses to expand its buy back to purchase such additional Shares, NTT expects that the aggregate consideration to be paid for all shares budgeted for sale by the Government will not exceed ¥400.0 billion.

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