Maintenance of an overwhelming market position in Japan's fixed-line and fiber-to-the-home (FTTH) markets Maintenance of a leading position and solid customer base in competitive mobile communications markets World-class technology A likelihood of the company's information technology (IT) service business making only a limited contribution to its consolidated EBITDA in the next two to three years despite a an expansion of such business in recent years Slightly lower profitability in the telecom business than the global average for telecom carriers Sound financial standing supported by a strong ability to generate cash flow A likelihood of the company maintaining its current sound financial standing because capital spending, mergers and acquisitions (M&A), and returns to shareholders are well-balanced The stable outlook on Japan-based
