Non-Consolidated Financial Results for the Fiscal Year Ended March 31, 2004 April 1, 2003 - March 31, 2004 (Based on accounting principles generally accepted in Japan)

Non-Consolidated Financial Results
for the Fiscal Year Ended March 31, 2004
April 1, 2003 - March 31, 2004
(Based on accounting principles generally accepted in Japan)

[Operating Results]

Notes:1.	Extraordinary profits for the fiscal year ended March 31, 2004 are gain on sale of property, plant and equipment.
2.	Extraordinary losses for the fiscal year ended March 31, 2004 are amortization of cumulative effect of change in accounting standard for severance payments and pension plans.

[Proposal for Appropriation of Unappropriated Retained Earnings]

[Forecasts for the Fiscal Year Ending March 31, 2005]

[Breakdown of Operating Revenues and Operating Expenses]
(1) Operating Revenues

* Partial listing only

Notes:1.	"Voice Transmission Services Revenues" represent the total of telephone revenues and ISDN revenues.
2.	"Voice Transmission Services Revenues" for the fiscal year ended March 31, 2004 includes 18.2 billion yen in settlement of interconnection charges based on the LRIC methodology.

(2)Operating Expenses

Notes:

"Purchase of goods and services" for the fiscal year ended March 31, 2004 includes a subsidy to NTT West of 18.4 billion yen.

[Financial Position]

* Partial listing only

[Cash Flows]

[Reference]

1. Number of Subscriber Lines

Notes:1.	"Number of Telephone Subscriber Lines" is the total of individual lines and central station lines (Analog Lite Plan is included).
2.	Since, in terms of number of channels, transmission rate, and line use rate (base rate), INS-Net 1500 is in all cases roughly ten times greater than INS-Net 64, one INS-Net 1500 subscriber is calculated as ten INS-Net 64 subscribers (INS-Net 64 Lite Plan is included).

2. Number of IP-related Services Subscribers

3. Indicators

4. Number of Employees

5. Capital Investements