News Release 041110b

November 10, 2004
[U.S. GAAP]

Consolidated Semi-annual Financial Results Release
For the Six Months Ended September 30, 2004

Name of registrant: Nippon Telegraph and Telephone Corporation
Code No.: 9432
Stock exchanges on which the Company's shares are listed: Tokyo, Osaka, Nagoya, Fukuoka, and Sapporo
Address of principal executive office: Tokyo, Japan
(URL http://www.ntt.co.jp/ir/)
Representative: Norio Wada, President
Contact: Shigehito Katsuki, Head of IR, Department 4/ TEL(03)5205-5581
Date of meeting of the board of directors for approval of consolidated financial statements: November 10, 2004 Adoption of U.S. GAAP: Yes

1.	Consolidated Financial Results for the Six Months Ended September 30, 2004 (April 1, 2004 - September 30, 2004)

Amounts are rounded off to nearest million yen throughout this report.
(1) Consolidated Results of Operations

(2) Consolidated Financial Position

Note:	Number of shares outstanding at end of period (consolidated):	September 30, 2004:	15,740,708 shares
		September 30, 2003:	15,932,108 shares
		March 31, 2004:	15,741,201 shares

(3) Consolidated Cash Flows

(4)	Number of Consolidated Subsidiaries and Affiliated Companies Accounted for Under the Equity Method

The number of consolidated subsidiaries:

374

The number of unconsolidated subsidiaries accounted for under the equity method:

The number of affiliated companies accounted for under the equity method:

(5)	Changes of Reporting Entities

The number of consolidated subsidiaries added:

The number of consolidated subsidiaries removed:

The number of companies accounted for under the equity method added:

The number of companies accounted for under the equity method removed:

2.	Consolidated Financial Results Forecasts for the Year Ending March 31, 2005 (April 1, 2004 - March 31, 2005)

2.Consolidated Financial Results Forecasts for the Year Ending March 31, 2005 (April 1, 2004 - March 31, 2005)

(Reference)

Expected earnings per share (Fiscal year ending March 31, 2005):

42,564.79 yen

Note:

With regard to the assumptions and other related matters concerning the above estimated results, please refer to this( 3. BUSINESS RESULTS AND FINANCIAL CONDITIONS:[NOTE]).