|September 14, 1999|
|FOR IMMEDIATE RELEASE|
NTT East Submits Business Operation Plan for
Fiscal Year Ending March 31, 2000 to Minister of Posts and
Telecommunications for Approval
Nippon Telegraph and Telephone East Corporation (NTT East) was established in accordance with the reorganization of Nippon Telegraph and Telephone Corporation (NTT) on July 1, 1999 as a regional telecommunications company operating in eastern Japan. NTT East today submitted to the Minister of Posts and Telecommunications for approval its business operation plan for the fiscal year ending March 31, 2000.
The telecommunications industry is expected to actively contribute to the development and efficiency of social and economic activities in today's information society. Its market is developing further to meet more sophisticated, diverse, and global customer needs, and the telecommunications industry is spearheading the world trend toward the multimedia era through outstanding technological developments. Due to an increasing trend toward globalization and multimedia, competition, which has been mainly focused in the long-distance market, is now expanding into full-scale service competition, including mobile and international markets. Competition is also developing in local communications markets.
Under such circumstances, Nippon Telegraph and Telephone East Corporation (NTT East) was established on July 1, 1999 as a regional telecommunications company operating in eastern Japan. While continuing to provide both stable and high-quality universal services, NTT East is also developing the field of information sharing by providing innovative new services for a wide range of corporate and individual activities using digital infrastructure. NTT East shall endeavor to make a contribution to society by pursuing the following initiatives: the Company shall promote the deployment of Optical Access Networks enabling it to respond promptly to customers' demands; it shall contribute to the advancement of telecommunications markets through fair competition; it shall strengthen and enhance its research and development capabilities in applied fields; and it shall ensure that the telecommunications industry serves the public interest. Throughout all these efforts, NTT East shall do its best to strengthen and to stabilize its business foundations.
Reflecting these fundamental principles, one of the primary objectives of NTT East during the fiscal year ending March 31, 2000, the first year of its operation, is to accurately and speedily grasp the views and needs of customers in order to make the necessary improvements in services. At the same time, given the severe business conditions which prevail today, NTT East shall make its best effort to cut costs and to maintain profits. Other important objectives and initiatives include: maintaining smooth interconnection and open access networks; strengthening the Company's research and development position in applied fields; improving disaster-prevention measures; promoting human resources development; and actively pursuing new business opportunities. Through this line of action, NTT East shall endeavor to achieve a stable course of future development. NTT East stands ready to share the benefits of these programs with its customers, local communities, and the shareholders in the holding company.
The above outlines the basic strategies of NTT East for the fiscal year ending March 31, 2000. While special emphasis shall be assigned to the matters summarized below, NTT East shall respond with due flexibility to any significant changes in the business environment.
Note: All financial information stated in this release was prepared on the basis of generally accepted accounting principles in Japan.