NTT CFO Aims to Boost Market Cap by 20% in Two Years
- Carrier expanded last year by merging with wireless unit
- Company is buying back shares, improving profitability
An avatar robot OriHime-D at a reception area of the Nippon Telegraph and Telephone Corp. (NTT) headquarters in Tokyo, Japan.
Photographer: Shoko Takayasu/BloombergThis article is for subscribers only.
Nippon Telegraph & Telephone Corp. should be able to exceed a market capitalization of 15 trillion yen ($132 billion) within two years, about 20% greater than it is right now, backed by improved profits and share buybacks, the carrier’s chief financial officer said.
Akira Shimada, who is also senior executive vice president of Japan’s largest telecommunications company, said in a recent interview that the valuation should “at least be at that” threshold. Additional buybacks may be in store, he added.