Leading position in Japan's fixed-line, mobile communications, and broadband markets Largest share of the mobile communications market and high profitability By far largest share of the domestic fiber to the home (FTTH) service market System integration business's increasing contribution to earnings Extremely strong financial standing, supported by the company's solid ability to generate cash flow Declining shares of mobile communications and FTTH markets, reflecting intensifying competition Declining profitability, unlikely to recover in one to two years Our ratings on Japan-based communications company Nippon Telegraph&Telephone Corp. (NTT) reflect its leading position in Japan's major telecommunications and broadband markets, and its high profitability and top market share in its mobile business, which is a pillar of the company's earnings. Also,
