An extremely strong position in fixed-line, mobile telecommunications, and broadband markets in Japan Ongoing cost reductions to maintain profitability Strong profitability and cash flow generation of its subsidiary, NTT DoCoMo Inc. (AA-/Stable/A-1+), which supports the profitability and strong cash flow of the overall group Prospects for high growth of broadband business, in which the company leads in both asymmetrical digital subscriber lines (ADSL) and optical fiber lines for home use Solid financial profile, despite relatively heavy debt usage for its rating level Continued decrease in revenues from fixed-line telecommunications business due to decreased demand and intensified competition Decreasing average revenue per user (ARPU) in mobile telecommunications business operated by NTT DoCoMo The rating on Nippon Telegraph&Telephone Corp. (NTT)
