Leading position in Japan's fixed-line, mobile communications, and broadband markets Subsidiary NTT DOCOMO's almost 50% share of the mobile communications market, and its high profitability By far the largest fiber to the home service provider Increasing contribution of system integration business to earnings Minimal financial risk profile, backed by strong cash flow Possibility of slower improvement in earnings from fiber to the home services due to changes in regulations and competitive environment Intensifying competition in mobile communications The ratings on Nippon Telegraph&Telephone Corp. (NTT; AA/Stable/A-1+) reflect its established leading position in Japan's fixed-line, mobile communications, and broadband markets and its wholly owned subsidiary NTT DOCOMO Inc.'s (AA/Stable/A-1+) nearly 50% share of the mobile communications market, which serves as
