Oligopoly in domestic telecommunications market results in moderate competition Extremely strong position in Japan's fixed-line, mobile communications, and broadband markets Subsidiary NTT DOCOMO Inc.'s (AA/Stable/A-1+) almost 50% share of the mobile communications market serves as a key earnings pillar and produces high profitability Leader in fiber to the home (FTTH) service Increasing earnings from system integration business Minimal financial profile Continued losses in FTTH business and risk of slower improvement in its earnings due to regulations and competitive environment Absence of specific developments in government discussions on possible reorganization of NTT The ratings on Nippon Telegraph&Telephone Corp. (NTT; AA/Stable/A-1+) reflect the company's overwhelming dominance of Japanese telecommunications subscriptions and its extremely strong position in Japan's fixed-line, mobile communications,
