Japan Buybacks: NTT Announces A Big One, and the Devil's in the Details.

NTT Docomo & NTT: First Stage of Docomo Buyback Completed- Implications Going Forward

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Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) / Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) (9432 JP)

<ul><li class="p1">NTT’s 2015 in Line With Guidance Distorted by Accounting Changes; Fair Value Estimate Unchanged.</li><li class="p1">Nippon Telegraph and Telephone Corp's, or NTT’s, fiscal 2015 (year ending March 2016) result was broadly in line with our expectations at an operating level, but the company did raise its expected dividend for fiscal 2015 to JPY 110 from JPY 100 previously.</li><li class="p1">NTT continues to benefit from both organic cost-saving measures and the move to the Hikari Collaboration Model whereby resellers take over the sales and marketing expenses for wholesaled broadband lines.....</li></ul>Analyst: Dan Baker

NTT’s 2015 in Line With Guidance Distorted by Accounting Changes; Fair Value Estimate Unchanged.Nippon Telegraph and Telephone Corp's, or NTT’s, fiscal 2015 (year ending March 2016) result was broadly in line with our expectations at an operating level, but the company did raise its expected dividend for fiscal 2015 to JPY 110 from JPY 100 previously.NTT continues to benefit from both organic cost-saving measures and the move to the Hikari Collaboration Model whereby resellers take over the sales and marketing expenses for wholesaled broadband lines.....Analyst: Dan Baker

NTT's Wholesaling of Its Fibre Network and General Cost Cutting Are Improving Returns.