Maintenance of a diversified business mix and leading market position in Japan's fixed-line and mobile communications markets World-leading technology System integration (SI) business' increasing contribution to earnings Intensifying competition in mobile communications and fiber-to-the-home (FTTH) markets Limited geographic diversification Profitability slightly toward the lower end of average for telecom carriers globally and unlikely to recover substantially in the next one to two years A "minimal" financial risk profile, supported by solid ability to generate cash flow A likelihood that capital spending, mergers and acquisitions (M&A), and returns to shareholders can be managed within the bounds of the group's "minimal" financial risk profile New services and cost cuts over the next one to two years will make continuous deterioration in profitability
