August 6, 2019
Nippon Telegraph and Telephone Corporation (“NTT”) hereby announces that, at a meeting of its Board of Directors held today, NTT authorized repurchases of shares of its common stock pursuant to Article 156 of the Companies Act of Japan (the “Companies Act”), as applied pursuant to Paragraph 3, Article 165 of the Companies Act, as described below.
To improve capital efficiency and enhance shareholder returns.
|(1) Total number of shares to be repurchased||Up to 53 million shares of common stock
(Ratio to the number of outstanding shares*: 2.84%)
|(2) Aggregate repurchase amount||Up to 300 billion yen|
|(3) Period of repurchases||August 7, 2019 ~ September 30, 2019|
|(4) Method of repurchases||Through the Tokyo Stock Exchange Trading Network Off-Auction Own Share Repurchase Trading System (ToSTNeT-3) (Planned)|
NTT plans to acquire the number of shares of its common stock (up to 48,666,710 shares) whose sale proceeds have been accounted for under the Japanese government’s fiscal 2019 budget.
|Number of outstanding shares*||1,866,603,233 shares|
|Number of shares of treasury stock||83,791,237 shares|
Investor Relations Office
Finance and Accounting Department
Nippon Telegraph and Telephone Corporation
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