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NTT Press Releases

May 10, 2019

Nippon Telegraph and Telephone Corporation

Investment in Ennet

Nippon Telegraph and Telephone Corporation (headquartered in Chiyoda Ward, Tokyo; Jun Sawada, President & CEO; hereinafter referred to as “NTT”) has invested in Ennet Corporation (headquartered in Minato Ward, Tokyo; Yuji Kawagoe, President & CEO; hereinafter referred to as “Ennet”), which is pursuing business in retail power sales. Along with this investment, Ennet is going to bolster its setup for sales nationwide as a consolidated subsidiary of the NTT Group.

1.Outline of the investment

NTT acquired the stock of Ennet through a third-party allocation of new shares.

2.Background of the investment

Ennet was established in 2000, when the liberalization of Japan’s power sector began, as a joint venture with NTT Facilities, Inc.; Tokyo Gas Co., Ltd.; and Osaka Gas Co., Ltd. It has since continued to grow through its main business of power retailing in coordination with these companies. Upon the total liberalization of power retailing in 2016 and other changes, however, the environment surrounding its business changed dramatically. In response, it issued new shares through third-party allocation in order to increase its power source procurement capabilities, expand its power retailing channels, and bolster its business foundation in pursuit of further growth.

NTT is taking approaches to new “smart energy” business by making maximum use of the technology, know-how, and assets in possession of the NTT Group. It is likewise striving to reinforce its competitiveness and expand its earnings in the energy business.

NTT decided to make this investment because it could expect to expand earnings from smart energy business for the NTT Group as a whole by making Ennet an NTT Group subsidiary through its subscription to the new issues, in light of anticipated effects such as wider collaboration with partner firms including channels for sales within the NTT Group and a stronger setup for sales nationwide.

3.Investment information

Stock acquisition method Receipt of new shares by third-party allocation
Stock acquisition date May 10, 2019
Investment interests NTT Group: 51.0%
(Breakdown)NTT Facilities, Inc.: 32.7%
                     Nippon Telegraph and Telephone and Corporation: 18.3%
Tokyo Gas Co., Ltd.: 24.5%
Osaka Gas Co., Ltd.: 24.5%

4.Outline of the investment destination

Company name Ennet Corporation
Address 2-6-3 Shiba Koen, Minato Ward, Tokyo
Representative Yuji Kawagoe, President & CEO
Business Power retailing etc.
Date of establishment July 7, 2000

Contact for inquiries about this release

Public Relations Office

Nippon Telegraph and Telephone Corporation
Tel: 03-5205-5550
e-mail: ntt-cnr-ml@hco.ntt.co.jp

Information is current as of the date of issue of the individual press release.
Please be advised that information may be outdated after that point.

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