February 4, 2005
[U.S. GAAP]
Outline of Consolidated Financial Results
For the Nine Months Ended December 31, 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
Adoption of U.S. GAAP: Yes


1. Notes Related to the Preparation of the Quarterly Consolidated Financial Statements
(1) Adoption of simplified accounting method: Yes
Income taxes are calculated using an estimated annual income tax rate based on the statutory tax rate.
(2) Change in accounting method from the most recent fiscal year: No
(3) Change in number of consolidated subsidiaries and affiliated companies accounted for under the equity method: Yes
 
Number of consolidated subsidiaries added: 53 Number of consolidated subsidiaries removed: 6
Number of companies accounted for under the equity method added: 13 Number of companies accounted for under the equity method removed: 35


2. Consolidated Financial Results for the Nine Months Ended December 31, 2004 (April 1, 2004 - December 31, 2004)
  Amounts are rounded off to nearest million yen throughout this report.
(1) Consolidated Results of Operations
(1) Consolidated Results of Operations

(2) Consolidated Financial Position
(2) Consolidated Financial Position
Note:

Number of shares outstanding (consolidated) as of December 31, 2004 and March 31, 2004 was 14,940,021 shares and 15,741,201 shares, respectively.


(3) Consolidated Cash Flows
(3) Consolidated Cash Flows


3. Consolidated Financial Results Forecasts for the Year Ending March 31, 2005 (April 1, 2004 - March 31, 2005)
  3. Consolidated Financial Results Forecasts for the Year Ending March 31, 2005 (April 1, 2004 - March 31, 2005)
(Reference) Expected Earnings per Share (Year ending March 31, 2005): 44,845.99 yen
Note: Forecasts for the fiscal year ending March 31, 2005 have never been changed from those announced on November 10, 2004. With regard to the assumptions and other related matters concerning the above estimated results, please refer to here.

* Consolidated financial statements are unaudited.


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