Nippon Aims to Exceed the Market Value of $132 Billion in Two Years
NTT Corp looks forward to achieving a market capitalization exceeding $132 billion or 15 trillion yen in the next two years, as per the chief financial officer, Akira Shimada. This is more than a 20 % valuation right now for the Japanese carrier Nippon Telegraph & Telephone Corp, which is expecting improved profits and buyback of its shares. In a recent interview, Shimada, who also happens to be the Senior Vice President of Japan’s largest telecommunication company, said that the expected valuation is already the threshold with options of additional share buybacks. As per Bloomberg news, NTT merged with its wireless subsidiary NTT Docomo Inc. last year for 4.25 trillion yen converted the company into a larger entity with a $111 billion current market value. NTT, the former national telecom company, is the fifth largest business in Japan by value. A higher valuation will place it on par with Son Corp. and Keyence Corp. In August, NTT unveiled a plan to buy back shares worth 250 billion yen by match 2022.
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