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NTT : Financial Results for the Fiscal Year Ended March 31, 2026 and Financial Forecastsfor the Fiscal Year Ending March 31, 2027
NTT : Financial Results for the Fiscal Year Ended March 31, 2026 and Financial Forecastsfor the Fiscal Year Ending March 31,
About this update from Ntt Inc
Financial Results for the Fiscal Year Ended March 31, 2026 and Financial Forecasts for the Fiscal Year Ending March 31, 2027 May 8, 2026 This document is a translation of the Japanese original. The Japanese original is authoritative. The forward-looking statements and projected figures concerning the future performance of NTT and its subsidiaries and affiliates contained or referred to herein are based on a series of assumptions, projections, estimates, judgments and beliefs of the management of NTT in light of information currently available to it regarding NTT and its subsidiaries and affiliates, the economy and telecommunications industry in Japan and overseas, and other factors. These projections and estimates may be affected by the future business operations of NTT and its subsidiaries and affiliates, the state of the economy in Japan and abroad, possible fluctuations in the securities markets, the pricing of services, the effects of competition, the performance of new products, services and new businesses, changes to laws and regulations affecting the telecommunications industry in Japan and elsewhere, other changes in circumstances that could cause actual results to differ materially from the forecasts contained or referred to herein, as well as other risks included in NTT’s most recent Annual Securities Report and in any other materials publicly disclosed by NTT on its website. * “E” in this material represents that the figure is a plan or projection for operation. ** “FY” in this material indicates the fiscal year ending March 31 of the succeeding year. Table of Contents Overview of FY2025 Consolidated Results FY2026 Results Forecast Shareholder Returns Toward Medium-Term Profit Growth (Revision of Medium-Term Financial Targets) Appendix Overview of FY2025 Consolidated Results © NTT, Inc. 2026 4 FY2025 Consolidated Results Highlights ◼ ◼ Operating Revenues, Operating Profit and Profit all increased year-on-year Operating Revenues reached new record-high levels Status of Consolidated Results Operating Revenues: ¥14,409.1B EBITDA (1) : ¥3,423.3B Operating Profit: ¥1,706.2B Profit (2) : ¥1,037.0B EBITDA, and the depreciation and amortization included in its calculation, excludes all depreciation and amortization related to right-of-use assets. Profit presented above represents the profit attributable to NTT, excluding noncontrolling interests. Contributing Factors by Segment for FY2025 Operating Revenues <> ＋ 704.4 > (Billions of yen) 13,704.7 Integrated ICT Business Segment 245.0 〔FY2025〕 Global Solutions Business Segment 365.9 Regional Communications Business Segment 97.9 Others (Real Estate, Energy and Others) 26.1 Elimination of Inter-Segment Transactions 30.5 14,409.1 FY2024 〔6,458.1〕 〔5,004.6〕 〔3,210.2〕 〔1,752.6〕 FY2025 Integrated ICT Business Segment Global Solutions Business Segment Regional Communications Business Segment Others (Real Estate, Energy and Others) Elimination of Inter-Segment Transactions 1,649.6 11.9 57.4 1,706.2 16.2 〔2025年度〕 〔942.1〕 〔488.2〕 〔307.4〕 〔（1.6） 〕 78.5 164.3 Operating Profit <> ＋ 56.7 > FY2024 FY2025 FY2026 Results Forecast © NTT, Inc. 2026 7 FY2026 Forecast Summary ◼ Operating Revenues, EBITDA, and Operating Profit will increase year-on-year Profit will decrease year-on-year Consolidated Revenues and Income Plan FY2025 Results FY2026 Forecast Year-on-Year Operating Revenues ¥ 14,409.1 B ¥ 15,060.0 B +¥ 650.9 B EBITDA (1) ¥ 3,423.3 B ¥ 3,430.0 B +¥ 6.7 B Operating Profit ¥ 1,706.2 B ¥ 1,710.0 B +¥ 3.8 B Profit (2) ¥ 1,037.0 B ¥ 980.0 B ¥( 57.0 ) B EBITDA, and the depreciation and amortization included in its calculation, excludes all depreciation and amortization related to right-of-use assets. Profit presented above represents the profit attributable to NTT, excluding noncontrolling interests.. FY2026 Forecast Summary by Segment Operating Revenues <_year-on-year3a_ _2b_650.9=""> Integrated ICT Business Segment Global Solutions Business Segment Regional Communications Business Segment Others (Real Estate, Energy and Others) Elimination of Inter-Segment Transactions 15,060.0 2.8 67.6 14,409.1 〔2026年度E〕 〔6,821.0〕 〔5,190.0〕 〔3,213.0〕 〔1,920.0〕 362.9 185.4 167.4 (Billions of yen) Integrated ICT Business Segment Global Solutions Business Segment Regional Communications Business Segment Others (Real Estate, Energy and Others) Elimination of Inter-Segment Transactions 1,706.2 1,710.0 0.9 6.1 6.6 〔2026年度E〕 〔943.0〕 〔470.0〕 〔314.0〕 〔19.0〕 18.2 20.6 Operating Profit FY2025 FY2025 <_year-on-year3a_ _2b_3.8=""> FY2026E FY2026E Shareholder Returns © NTT, Inc. 2026 10 Shareholder Returns Dividends Dividends for FY2025 ・ The year-end dividends per share are ¥2.65 Dividends forecast for FY2026（Interim, Year-end） ・ Annual dividends per share are forecasted to be ¥5.4 (an increase of ¥0.1 from FY2025) →Dividends are expected to increase for the 16 th consecutive year Share Buybacks Share Buybacks in order to improve capital efficiency and enhance shareholder returns Details of Share Buybacks ・ Aggregate Amount: Up to ¥200.0 billion ・ Aggregate Number of Shares: Up to 14 billion shares ・ Buyback Period: From May 11, 2026, to March 31, 2027 © NTT, Inc. 2026 11 12 Toward Medium-Term Profit Growth (Revision of Medium-Term Financial Targets) © NTT, Inc. 2026 Contents Toward Medium-Term Profit Growth (Revision of Medium-Term Financial Targets) Initiatives Aimed at Achieving EBITDA of ¥4 Trillion in Fiscal Year 2030 Medium-Term Financial Targets Basic Policy on Shareholder Returns Financial Policy Toward Medium-Term Profit Growth (Revision of Medium-Term Financial Targets) While profits are steadily increasing in Growth Areas, changes in the business environment in Existing Areas have resulted in consolidated EBITDA falling below expectations, making it difficult to achieve the FY2027 target. Revised Medium-Term Targets ¥ 4 Trillion Current Medium-Term Targets ¥ 4 Trillion We aim to achieve EBITDA of 4 trillion yen by FY2030 by accelerating growth in the Value-added Areas and transforming the Connectivity Areas into an AI-native infrastructure. NTT Consolidated Accelerating Profit Growth Through AI Transition to AI-Native EBITDA (Growth Areas) ¥ 3.3 Trillion ¥ 3.4 Trillion (FY2027) (FY2030) Strategic Upfront Investments Value-added Areas Steady Profit Growth (Existing Areas) Connectivity Areas Changes in the Business Environment Strengthening the Customer Base Handling Increased Traffic Infrastructure "AIOWN" Maintaining Cash Generation Capacity Through Profit Stabilization FY2022 FY2025 FY2027 FY2030 FY2030~ Initiatives Aimed at Achieving EBITDA of ¥4 Trillion in Fiscal Year 2030 Accelerating Profit Growth Through AI ① Expansion of the domestic corporate business by maximizing customer value ② Acceleration of the growth of our overseas business, with a focus on AI and data centers ③ Further expansion of our personal business, with a focus on financial services Near Term Medium Term ➃ Transition to AI-native next-generation infrastructure Transition to AI-Native Infrastructure ⑤ Toward the realization of next-generation AI-native infrastructure ⑥ Maintaining cash generation ability through the stabilization of telecommunications business profits Strategic Upfront Investments to Support Continued Growth ⑦ Early commercialization of new business areas Initiatives Aimed at Achieving EBITDA of ¥4 Trillion in Fiscal Year 2030 Accelerating Profit Growth Through AI ① Expansion of the domestic corporate business by maximizing customer value ② Acceleration of the growth of our overseas business, with a focus on AI and data centers ③ Further expansion of our personal business, with a focus on financial services Transition to AI-Native Infrastructure Medium Term Near Term ➃ Transition to AI-native next-generation infrastructure ⑤ Toward the realization of next-generation AI-native infrastructure ⑥ Maintaining cash generation ability through the stabilization of telecommunications business profits Strategic Upfront Investments to Support Continued Growth ⑦ Early commercialization of new business areas Value-added Areas ① Expansion of the Domestic Corporate Business by Maximizing Customer Value In light of the rapid advancements in AI, we are shifting our business portfolio from a model reliant on human resources to one centered on customer value. By promoting the provision of high value-added integration services by NTT DATA, we will expand our customer base. (Units: Billions of ¥) Approx. Rapid Advancemen t of AI A Business Model Centered On Customer Value A business model reliant on human resources Approx. 1,210 900 Business Model Transformation Resources Created Through Efficiencies Gained By Utilizing AI Domestic Providing Full-Stack AI Business Solutions Models tsuzumi, Major LLMs Expanding and Enhancing Our Customer Base Corporations Solutions AI Agents AI Platforms Full-Stack, Sovereignty-compliant Consulting on Business Challenges Customized Integration Cross-Selling Products Infrastructure Cloud, DC, NW Providing High Value-Added Integration FY2025 FY2030 Value-added Areas ② Acceleration of the Growth of Our Overseas Business, With a Focus on AI and Data Centers Accelerating the growth of our overseas business by providing full-stack services, with AI and data centers as key growth drivers. In the IT services business, we will promote the creation of AI-native businesses, while also expanding capabilities through M&A and other initiatives. In light of robust demand, the data center business will continue to make growth investments while maintaining financial soundness through the use of third-party capital. Approx. 600 (Units: Billions of ¥) IT Services Business Data Center Business Approx. 420 Approx. 140 Approx. 280 Gains on Sales Approx. 130 IT Services Business Data Center Business Creating AI-driven business opportunities using NTT DATA AIVista and expanding capabilities through M&A and other initiatives Improving profitability through the provision of full-stack consulting and solutions, including AI Focusing on the cloud and AI inference space, develop around hyperscalers Approx. 200 Approx. 400 FY2025 FY2030 Value-added Areas ③ Further Expansion of Our Personal Business, With a Focus on Financial Services Expansion of financial customer base with settlement and banking as a starting point and growth of financial business through promotion of investments and loans and insurance utilization. We will enhance our marketing capabilities by combining one of the largest membership bases in Japan and vast and diverse data with AI. (Units: Billions of ¥) Approx. Growth of the Financial Services Business Centered on Payments and Banking Enhancing Capabilities and Competitiveness Through Data and AI Approx. 510 350 (August 2026~) Payments Banking Personal Agent Marketing Solutions Smart life business Loans Insurance Investments Enhancing Customer Understanding and Marketing Data Infrastructure Finance Finance 70 FY2025 Establishment of NTT DOCOMO Financial Group (July 2026) Usage data of d ACCOUNT members Traffic data from network devices etc. 230 FY2030 © NTT, Inc. 2026 * Reference figures are presented based on the premise of the business restructuring in the Finance Business scheduled to be implemented in July 2026 and the transition to the “NTT DOCOMO Financial Group” structure. 19 Initiatives Aimed at Achieving EBITDA of ¥4 Trillion in Fiscal Year 2030 ① Expansion of the domestic corporate business by maximizing customer value ② Acceleration of the growth of our overseas business, with a focus on Accelerating Profit AI and data centers Growth Through AI ③ Further expansion of our personal business, with a focus on financial services Medium Term ➃ Transition to AI-native next-generation infrastructure Transition to AI-Native Infrastructure ⑤ Toward the realization of next-generation AI-native infrastructure Near Term ⑥ Maintaining cash generation ability through the stabilization of Strategic Upfront Investments ⑦ Early commercialization of new business areas to Support Continued Growth telecommunications business profits Connectivity Areas ➃ Transition to AI-native next-generation infrastructure By optimizing resources such as GPUs, networks, and power, and realizing the conversion to AI native infrastructure “AIOWN ” in Japan, which handles operations including the edge, we aim for full-scale business development. AI × IOWN Person-to-Person (Between Locations) Things-to-Things (IoT) AI-to-AI Robot-to-Robot Secure usage environment extending to the edge Full-scale business GPU Resource Allocation Across Large-Scale Data Centers Integrated operation Data Processing in the User's Vicinity Optimizing Distributed AI Workloads development Real-time Inference Processing GPU "AIOWN" is currently under trademark application in Japan. Large-scale Data Centers Distributed 6G Data Centers Connectivity Areas ⑤ Toward the Realization of AI-native next-generation infrastructure To realize AI-native next-generation infrastructure "AIOWN" , we will accelerate the social implementation of IOWN by expanding IOWN APN nationwide and expanding the ecosystem of photonic-electronic convergence devices through cooperation with various partners. Deployment of IOWN Photonic-Electronic Convergence Devices Provision to Hyperscalers Addressing Needs for Higher Capacity and Lower Power Consumption Development with Software Vendors Implementing AI Computing Infrastructure with startups in Japan and overseas Ecosystem PEC-3 Joint Development with Semiconductor Manufacturers Development of Optical Chiplets Mass Production with Hardware Vendors Mass Production of Optical Switches Using PEC-2 PEC-4 Expansion Deployment of the IOWN APN ~FY2027 2030 Nationwide Expansion Through Demand Creation Expanding to Prefectural Capitals ~FY2026 Between major cities [Connected] Sapporo~Tokyo/Nagoya /Osaka~Fukuoka Connectivity Areas ⑥ Maintaining Cash Generation Capacity Through the Stabilization of Telecommunications Business Profits Maintain cash generation capacity by securing stable profits through measures such as improving productivity via AI-driven operational transformation and strengthening customer engagement across all business areas. Number of Handset Subscriptions Mobile ARPU 53.0 million Same Level ¥4,100 ¥3,960 FY2025 FY2030 FY2025 FY2030 Maximize LTV Regional Communications Business EBITDA ¥0.7 trillion ¥0.8 trillion FY2025 FY2030 Consumer Communications Business Operational Transformation Improving productivity through process optimization using DX and AI Reskilling of redeployed human resources and shifting toward growth areas Achieve profit growth Increasing Profits in Hikari Business, Corporate Business and New Businesses Expansion of the optical customer base through initiatives such as the "Hikari Collaboration Model" and the "All- Apartment Units Business" Improving profit margins through focusing resources on key customers and in-house production Strengthen profitability in new business areas by solving regional issues Strengthening Customer Engagement Product Evolution Operational Transformation and Productivity Improvement Utilizing AI Enhance engagement channels Optimize offerings using AI Enhance the experiential value through digital and physical integration Transformation of customer operation and network architecture ※Figures include corporate subscriptions. Initiatives Aimed at Achieving EBITDA of ¥4 Trillion in Fiscal Year 2030 Accelerating Profit Growth Through AI ① Expansion of the domestic corporate business by maximizing customer value ② Acceleration of the growth of our overseas business, with a focus on AI and data centers ③ Further expansion of our personal business, with a focus on financial services Transition to AI-Native Infrastructure Medium Term Near Term ➃ Transition to AI-native next-generation infrastructure ⑤ Toward the realization of next-generation AI-native infrastructure ⑥ Maintaining cash generation ability through the stabilization of telecommunications business profits Strategic Upfront Investments to Support Continued Growth ⑦ Early commercialization of new business areas Upfront Investment ⑦ Early Commercialization of New Business Areas To achieve sustainable profit growth beyond 2030, we will continue to make strategic growth investments in fields such as mobility, space, and photonic quantum computing. Mobility Space Optical Quantum Computing Services supporting the introduction and operation of autonomous vehicles (such as buses and taxis ) Applications of IOWN Technology Utilized for disaster prevention and economic security OCT Research and development of scalable and highly reliable optical quantum computers Accelerate commercialization through partner collaborations Infrastructure collaborated Mobility AI and Communications Platform OCT PIC Optical Data Relay Network Control OCT PIC Qubit Comprehensive simulation of major disaster scenarios global population of 8 Billion 100 million 1 million Personalizing new drugs for a × PIC OGS transportation, etc. PIC 10,000 Dynamic optimization of large-scale communications, and 2025 Continue Strategic Growth Investments 2027 2030 Medium-Term Financial Targets Target Indicators Target Levels (FY2030) 〔Reference〕 FY2026 Forecast ¥ 3.4 Trillion 5.0 ％ *NTT DOCOMO Financial Group Sustainability-related targets(remain unchanged) New Female Manager Promotion Rate : at least 30% each year Greenhouse Gas Emissions : targeting carbon neutrality in 2040, as well as Net-Zero Engagement Rate : To be improved Basic Policy on Shareholder Returns We will continue to follow our existing policies regarding both dividends and share buybacks. Dividend Policy Our basic policy is to implement steady increases in dividends Share Buybacks We will flexibly conduct share buybacks to improve capital efficiency Financial Policy Our policy is to ensure a certain level of financial soundness, and in the medium term, we aim to reduce the Interest-bearing liabilities / EBITDA (excluding the financial businesses) to approximately 3.5x. Interest-bearing liabilities / EBITDA(Excluding Financial Businesses) 4.2 x EBITDA Growth Selected and Focused Investment Areas Asset Streamlining 3.5 x approx. 2025 2030 (FY) Smart Life Business (DOCOMO) Repost: Finance DOCOMO Repost: Data Centers Overseas Corporate Businesses (DATA GROUP) ¥600 billion ¥390 billion DATA GROUP ¥420 billion ¥280 billion ¥600 billion ¥400 billion ¥510 billion ¥610 billion ¥350 billion ¥70 billion ¥510 billion ¥230 billion Domestic Corporate Businesses [Attachment] EBITDA by Business Segment ¥1.8 Trillion Value-added Areas +¥0.5 Trillion ¥2.3 Trillion Integrated ICT Global Solutions Regional Communications ¥1.6 Trillion Connectivity Areas +¥0.1 Trillion ¥1.7 Trillion ¥870 billion ¥870 billion Consumer Communications Business (DOCOMO) FY2025 FY2030 FY2030~ ¥820 billion ¥740 billion Regional Communications Business (NTT EAST / NTT WEST) FY2025 FY2030 © NTT, Inc. 2026 * Reference figures are presented based on the premise of the business restructuring in the Finance Business scheduled to be implemented in July 2026 and the transition to the “NTT DOCOMO Financial Group” structure. 29 New value creation & Sustainability 2030 powered by AIOWN © NTT, Inc. 2026 Appendix © NTT, Inc. 2026 31 Progress under the Medium-Term Management Strategy ~ Progress since February 2026 ~ IOWN-Driven Creation of New Value Demonstration of low latency AI video analysis on remote GPU with integrated network control of APN communication and AI processing (NTT, NTT DOCOMO, March) Signed a collaboration agreement with Kyoto University regarding the development and utilization of a data-driven platform using IOWN (NTT WEST, March) NTT and KCCS demonstrate the world's first Eco-Central Computing for distribution warehouses using IOWN APN (NTT, March) Successfully demonstrated remote operation and automated control of multiple pieces of heavy machinery using IOWN APN, local 5G, and 60GHz band wireless LAN with TAISEI CORPORATION (NTT, NTT EAST, April) Deployment of AI native infrastructure "AIOWN" that optimizes resources such as GPUs to achieve integrated operations in line with advances in AI utilization (NTT, NTT DATA Group, NTT DOCOMO BUSINESS, April) Data-Driven Creation of New Value Entered into a strategic partnership with Airlinq to enable the global rollout of IoT services (NTT DOCOMO BUSINESS, March) Succeeded in generating the world's highest quality squeezed light for quantum computers using a waveguide type optical device (NTT, March) “tsuzumi 2” has been selected as a large language model for trial use in the Digital Agency’s “Government AI program” (NTT DATA Group, March) Basic agreement signed for the establishment of "Miraitask" a cross-industry platform for centralizing inheritance procedures for the financial sector (NTT DATA Group, March) Achievement of a Circular Economy Society Demonstration of the world's first “floating offshore data center powered entirely by renewable energy” (NTT FACILITIES, March) Initiate measures to promote the introduction of renewable energy power for water supply and sewerage facilities (NTT, NTT Anode Energy, April) Started construction of the “NTT EAST Pavilion” to be featured at the 2027 International Horticultural Exposition “GREEN × EXPO 2027” (NTT EAST, April) Further Strengthening of Business Foundations Established "Retail ISAC Japan," the retail industry’s first cross-sector cybersecurity information-sharing framework (NTT, April) Strengthening of Services that Emphasize Customer Experience (CX) Restructuring of the financial business and transition to the “NTT DOCOMO Financial Group” structure (NTT DOCOMO, March) Launched “docomo Starlink Direct,” a service for direct communication with Starlink satellites (NTT DOCOMO, NTT DOCOMO BUSINESS, April) Support for Career Growth Selected for the “Nadeshiko Brand” list for two consecutive years as a listed company excelling in promoting women's advancement (NTT, March) Details of Consolidated Balance Sheet (Billions of yen) March 31, 2025 March 31, 2026 The scope of aggregation for each of the figures presented for Finance Business is internal management figures of Finance business in Smart Life of NTT DOCOMO Group in Integrated ICT Business Segment. Such figures include that calculated based on certain assumptions, are not audited and are provided for reference only. The Finance business includes services such as d CARD, d-Barai, and direct carrier billing, as well as figures from SBI Sumishin Net Bank, Ltd. Consolidated, Docomo Monex Holdings, Inc. Consolidated and DOCOMO Finance, Inc. Consolidated. (Note) Consolidated figures for SBI Sumishin Net Bank, Ltd. (IFRS) : Total Assets: ¥13,266.6 billion ; Total Liabilities: ¥13,148.8 billion (of which Interest-bearing debt: ¥1,582.7 billion) The scope of aggregation for each of the figures presented for Data Center Business in this sheet is internal management figures of the data center business of Global Technology Services Unit in Global Solutions Business Segment, NTT DOCOMO BUSINESS Group in Integrated ICT Business Segment, NTT EAST and NTT WEST in Regional Communications Business Segment. Such figures include that calculated based on certain assumptions, are not audited and are provided for reference only. Figures for each company are summed up before the eliminati on of internal transactions. Details of Consolidated Cash Flows (Excluding the impact of the consolidation of SBI Sumishin Net Bank, Ltd.) FY2024 FY2025 Increase/decrease from the previous fiscal year (Billions of yen) Cash Flows from Operating Activities (1) Cash Flows from Investing Activities FCF (1) Cash Flows from Financing Activities (422.5) (A) (B) +(B) EBITDA (2) 3,239.3 EBITDA (2) 3,402.2 Borrowings 572.1 Dividends (460.4) Acquisition of treasury stock (202.4) Payments Payments for for acquisition acquisition of assets (3) of assets (3) (2,132.3) (2,247.2) Borrowings 3,685.0 Acquisition of NTT DATA Group Shares (2,371.2) Dividends (458.3) Acquisitions of treasury stock （204.9） (153.0) Payments of income taxes(100.4) Payments of interest(69.1) (422.5) Increase in investment (577.8) Increase in sales of assets +108.2 © NTT, Inc. 2026 Excludes the impact of the last day of FY2023 having been a non-business day, resulting in certain accounts receivable being set to the first day of the following month (Operating CF including the impact of non-business days in FY2024 was ¥2,364.0 billion, and FCF including the impact of non-business days in FY2024 was ¥364.4 billion) Operating profit adjusted to add depreciation (excluding depreciation related to right-of-use assets), losses on sales of fixed assets, losses on disposals of fixed assets and impairment losses Payments for acquisitions of property, plant and equipment, intangible assets and investment properties (Note) NTT Consolidated Cash Flows Cash Flows from Operating Activities(1) ¥1,485.2 billion, an increase of ¥(686.0) billion compared to the previous fiscal year Cash Flows from Investing Activities ¥(1,023.4) billion, an increase of ¥976.2 billion compared to the previous fiscal year c）Cash Flows from Financing Activities ¥441.3 billion, an increase of ¥784.4 billion compared to the previous fiscal year 3 4 Cash and Cash Equivalents at the end of FY2025: ¥1,921.9 billion (including ¥895.1 billion resulting from the consolidation of SBI Sumishin Net Bank, Ltd.) 34 Details of Capital Investment (Billions of yen) Integrated ICT Business Global Solutions Business Regional Communications Business Others (Real Estate, Energy and Others) FY2023 FY2024 FY2025 FY2026E Changes in Dividends Changes in Total Annual Dividends ● Pay-Out Ratio 1.4 1.6 1.7 1.8 2.2 2.4 3.0 3.6 3.8 4.2 4.6 4.8 (Yen) 5.1 5.2 5.3 5.4 0.5 0.6 0.6 0.8 0.9 1.1 1.2 1.2 32.3% 31.2% 27.5% 38.2% 37.2% 38.0% 33.4% 31.4% 30.7% 32.9% 40.9% 41.1% 42.3% 34.9% 34.5% 33.8% 43.5% 42.0% 44.6% 12.3% 13.0% 17.1% 23.0% 19.5% FY2003 FY2004 FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026E Dividend-per-share amounts have been adjusted to reflect the 100-for-one stock split carried out on January 4, 2009, the two-for-one stock split carried out on July 1, 2015, the two-for-one stock split carried out on January 1, 2020, and the 25-for-one stock split carried out on July 1, 2023. U.S. GAAP was applied for periods up to and including FY2017, and IFRS has been applied for periods from and including FY2018. Record of Share Buybacks Amount of Share Buybacks (Billions of yen) 539.4 501.1 510.3 120.0 86.2 100.0 366.5 94.4 200.0 381.7 150.0 406.5 338.1 93.6 374.1 258.0 235.2 250.0 250.0 200.0 200.0 200.0 Up to 200.0 * FY1999 FY2002 FY2003 FY2004 FY2005 FY2007 FY2008 FY2011 FY2012 FY2013 FY2014 FY2015 FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 FY2026E * On May 8, 2026, the Board of Directors of NTT resolved to buy back shares in an amount up to ¥200.0 billion. Buyback Period: May 11, 2026, to March 31, 2027. Innovoting o Sustoinoble Future for People ond Plonet © NTT, Inc. 2026