Forecast Summary

Overview of FY2020 Financial Forecasts

  • The impact of COVID-19 is expected to be a decrease in Operating Revenues of approximately ¥350.0 billion and a decrease in Operating Income of approximately ¥70.0 billion, based on the following assumptions:
    • In Japan, without taking into account any re-issuances of state of emergency declarations, economic activity is expected to gradually recover following the lifting of the state of emergency in May
    • While recovery is expected to gradually occur overseas as well, the recovery is expected to be slower than in Japan, particularly in Europe and in the United States
  • As a result:
    • Operating Revenues are expected to decrease significantly, by approximately ¥400.0 billion, compared to FY2019
    • Operating Income and Operating Profit will increase compared to FY2019, covered by approximately ¥80.0 billion of reductions in capital investments, and approximately ¥100.0 billion of cost reductions

FY2020 Forecast Summary

Plan for Consolidated Revenues and Income

FY2019 Result FY2020 Forecast Year-on-Year COVID-19 Impact
Operating Revenues ¥11,899.4B ¥11,500.0B (¥399.4B) (¥350.0B)
  • (Domestic: (¥180.0B))
  • (Overseas: (¥170.0B))
Operating Income ¥1,562.2B ¥1,590.0B +¥27.8B (¥70.0B)
  • (Domestic: (¥45.0B))
  • (Overseas: (¥25.0B))
Profit* ¥855.3B ¥860.0B +¥4.7B
EPS** ¥231 ¥232 +¥1
  • *Profit represents profit attributable to NTT, excluding noncontrolling interests.
  • **Amounts have been adjusted to reflect the two-for-one stock split authorized by the board of directors on November 5, 2019, with an effective date of January 1, 2020.
  • ***On November 6, 2020, the Board of Directors resolved that NTT may repurchase up to 120 million shares of its outstanding common stock for an amount in total not exceeding ¥250,000 million from November 11, 2020 through March 31, 2021. Based on this, the FY2020 EPS target has been revised from ¥231 to ¥232 (an increase of ¥1)

FY2020 Financial Forecast Summary (by Company)

Operating Revenues Operating Income
Year-on-Year Year-on-Year
NTT DOCOMO ¥4,570.0B (¥81.3B) ¥880.0B +¥25.4B
NTT East ¥1,689.0B +¥11.9B ¥260.0B +¥4.0B
NTT West ¥1,438.0B +¥3.7B ¥148.0B +¥15.8B
Long Distance and International Communications Segment ¥2,114.0B (¥91.8B) ¥124.0B +¥20.4B
NTT Communications ¥1,037.0B - ¥119.0B -
NTT Ltd. ¥1,130.0B - ¥5.0B -
NTT DATA ¥2,170.0B (¥96.8B) ¥120.0B (¥10.9B)
NTT Urban Solutions ¥456.0B +¥30.0B ¥43.0B (¥5.7B)

FY2020 Forecast Summary by Segment

Operating Revenues <Year-on-year:(399.4)>

(Billions of yen)

Operating Income <Year-on-year:+27.8>

(Billions of yen)