Telecommunications and Information & Communication Technology
Strategic Profile
NTT owns NTT DoCoMo, the largest wireless operator in Japan with 53 million mobile handset subscribers, along with NTT East and NTT West regional fixed-line operators with about 23.6 million broadband lines, and provides IT and communications systems integration via NTT Communications and NTT Data. NTT consolidated NTT DoCoMo in 2021 and has spent several years generating synergies including network synergies and cross-selling opportunities.
Cyborg Score Rationale
NTT has oligopolistic control over most landlines in Japan with ownership of last mile infrastructure. In 2023, NTT was ranked 10th globally by WIPO for patent applications with 1,760 published applications. However, the company faces headwinds from mobile pricing pressures and competitive IT markets.
Top Insights
NTT is an anomaly in the telecom world owning a world-class wireless business in NTT DoCoMo, though its fixed-line business struggled to generate decent returns historically.
NTT consolidated NTT DoCoMo in 2021 and is pursuing synergies including network integration and R&D alignment.
NTT offered to take over the remainder of NTT Data with completion expected by end of September 2025, presenting further synergy opportunities.
The Japanese government owns roughly one-third of NTT's shares, regulated by the NTT Law.
Named Competitors
NTT DoCoMo — Japan's largest wireless operator with 53 million subscribers
NTT East/West — Regional fixed-line incumbent operators with 23.6 million broadband lines
NTT Data — IT systems integration and enterprise solutions