Investor Presentaiton

Operating Income by Segment Earnings created by the gas business stabilizes Group earnings and generates cash for growth businesses As regards information and communication services, in this fiscal year (FY2015) TOKAI started the full-scale Hikari collaboration*1 and has made upfront expenses (¥3 billion) to strongly uncover and win new customers. The CATV business has posted stable earnings, despite the impact of the completion of terrestrial digitization in FY2012. Sales of the FTTH communication service by itself have grown into the broadcast-available households area, and from now on we expect a further expansion of earnings. The Aqua business, in which eight years have passed since its launch in FY2007, has been developing nationwide since FY2013, and should go into the black in FY2016. FY2011 FY2012 FY2013 FY2014 Result Result Result Result FY2015 Forecast FY2016 Plan Gas and (\billion) 7.8 7.4 6.5 7.7 7.9 7.5 petroleum Information and (\ billion) 5.5 4.9 4.4 5 2.7 5.2 communication CATV (\ billion) 2.3 1.3 1.8 1.7 1.8 2 Building (\ billion) construction and 1 0.6 1.4 1 1.4 1.9 real estate Aqua (\ billion) - 0.9 - 0.9 - 2 - 1.3 - 1 0.2 Other businesses (\billion) - 4.8 - 4.3 - 4.7 - 5 - 5.1 - 4.2 and adjustments All companies (\ billion) 10.9 8.9 7.4 9 7.8 12.6 *1. Hikari collaboration: A model where NTT provides ISP operators and others with optical fiber lines they can use to provide their own-branded optical fiber broadband services. *2. On basis of before allocation to indirect expenses, etc. *3. Forecast for FY2015 was disclosed in May 2015. Plan for FY2016 was disclosed in June 2014. 4

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