Nippon Telegraph and Telephone : Quarterly Securities Report (For the three months ended June 30, 2022) 41pages

[Translation]

Quarterly Securities Report

(The First Quarter of the 38th Business Term)

From April 1, 2022 to June 30, 2022

NIPPON TELEGRAPH AND TELEPHONE CORPORATION

Table of Contents

Item 1. Overview of the Company ……………………………………………………………………………………………	4
1. Selected Financial Data …………………………………………………………………………………………………	4
2. Description of Business …………………………………………………………………………………………………	5
Item 2. Business Overview ……………………………………………………………………………………………………	6
1. Risk Factors ………………………………………………………………………………………………………………	6
2. Management's Analysis of Consolidated Financial Condition, Results of Operations, and Cash Flows ………………	6
3. Material Contracts ………………………………………………………………………………………………………	16
Item 3. Information on NTT …………………………………………………………………………………………………	17
1. Information on NTT's Shares ……………………………………………………………………………………………	17
(1) Total Number of Shares ………………………………………………………………………………………………	17
(2) Information on Share Acquisition Rights ……………………………………………………………………………	17
(3) Information on Moving Strike Convertible Bonds …………………………………………………………………	17
(4) Changes in the Total Number of Issued Shares, the Amount of Common Stock, and Other ………………………	18
(5) Major Shareholders …………………………………………………………………………………………………	18
(6) Information on Voting Rights ………………………………………………………………………………………	18
2. Changes in Directors and Senior Management …………………………………………………………………………	19
Item 4. Financial Information …………………………………………………………………………………………………	20
Condensed Consolidated Financial Statements ……………………………………………………………………………	21
(1) Condensed Consolidated Statement of Financial Position ……………………………………………………………	21
(2) Condensed Consolidated Statement of Profit or Loss and Consolidated Statement of Comprehensive Income ……	23
(3) Condensed Consolidated Statement of Changes in Equity……………………………………………………………	25
(4) Condensed Consolidated Statement of Cash Flows …………………………………………………………………	27
Notes………………………………………………………………………………………………………………………	28
1. Reporting Entity ……………………………………………………………………………………………………	28
2. Basis of Accounting…………………………………………………………………………………………………	28
3. Significant Accounting Policies ……………………………………………………………………………………	29
4. Significant Accounting Estimates and Judgments Involving Estimates ……………………………………………	29
5. New Standards Not Yet Applied ……………………………………………………………………………………	29
6. Segment Information ………………………………………………………………………………………………	30
7. Assets Held for Sale…………………………………………………………………………………………………	32
8. Property, Plant and Equipment………………………………………………………………………………………	33
9. Corporate Bonds……………………………………………………………………………………………………	33
10. Equity and Other Equity Items ……………………………………………………………………………………	34
11. Operating Revenues ………………………………………………………………………………………………	37
12. Financial Instruments ………………………………………………………………………………………………	38
13. Subsequent Events …………………………………………………………………………………………………	40

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[Note]

This document is an English translation of certain items that were disclosed in NTT's Quarterly Securities Report for the three- month period ended June 30, 2022, which NTT filed on August 9, 2022 with the Financial Services Agency of Japan.

The forward-looking statements and projected figures concerning the future performance of NTT and its subsidiaries and affiliates contained or referred to herein are based on a series of assumptions, projections, estimates, judgments and beliefs of the management of NTT in light of information currently available to it regarding NTT and its subsidiaries and affiliates, the economy and telecommunications industry in Japan and overseas, and other factors. These projections and estimates may be affected by the future business operations of NTT and its subsidiaries and affiliates, the state of the economy in Japan and abroad, possible fluctuations in the securities markets, the pricing of services, the effects of competition, the performance of new products, services and new businesses, changes to laws and regulations affecting the telecommunications industry in Japan and elsewhere, other changes in circumstances that could cause actual results to differ materially from the forecasts contained or referred to herein, as well as other risks included in NTT's most recent Annual Securities Report and in any other materials publicly disclosed by NTT on its website.

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[Cover]

[Document Filed]	Quarterly Securities Report ("Shihanki Hokokusho")
[Applicable Law]	Article 24-4-7, Paragraph 1 of the Financial Instruments and Exchange
	Act of Japan
[Filed to]	Director, Kanto Local Finance Bureau
[Filing Date]	August 9, 2022
[Fiscal Year]	The First Quarter of the 38th Business Term (From April 1, 2022 to June
	30, 2022)
[Company Name]	Nippon Denshin Denwa Kabushiki Kaisha
[Company Name in English]	NIPPON TELEGRAPH AND TELEPHONE CORPORATION
[Title and Name of Representative]	Akira Shimada, President and Chief Executive Officer
[Address of Head Office]	5-1, Otemachi 1-chome,Chiyoda-ku, Tokyo
[Phone No.]	[phone]
[Contact Person]	Takuro Hanaki, Head of IR, Finance and Accounting Department
[Contact Address]	5-1, Otemachi 1-chome,Chiyoda-ku, Tokyo
[Phone No.]	[phone]
[Contact Person]	Takuro Hanaki, Head of IR, Finance and Accounting Department
[Place Where Available for Public	Tokyo Stock Exchange, Inc.
Inspection]	(2-1, Nihombashi Kabutocho, Chuo-ku, Tokyo)

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Item 1. Overview of the Company

1. Selected Financial Data

IFRS

		Three Months	Three Months	Fiscal year ended
		Ended	Ended	March 31, 2022
		June 30,2021	June 30,2022
Operating revenues	Millions	2,892,570	3,068,871	12,156,447
of yen
Profit before taxes	Millions	496,282	525,537	1,795,525
of yen
Profit attributable to NTT	Millions	339,987	368,570	1,181,083
of yen
Comprehensive income (loss) attributable to	Millions	379,089	452,072	1,373,364
NTT	of yen
NTT shareholders' equity	Millions	7,735,109	8,514,340	8,282,456
of yen
Total assets	Millions	23,082,532	24,403,316	23,862,241
of yen
Basic earnings per share attributable to NTT	Yen	93.87	104.07	329.29
Diluted earnings per share attributable to NTT	Yen	－	－	－
Equity ratio	%	33.5	34.9	34.7
(Ratio of NTT Shareholders' Equity to Total Assets)
Net cash provided by operating activities	Millions	567,461	413,167	3,010,257
of yen
Net cash provided by investing activities	Millions	(587,669)	(454,966)	(1,699,152)
of yen
Net cash provided by financing activities	Millions	222,331	103,549	(1,438,130)
of yen
Cash and cash equivalents at end of period	Millions	1,139,296	924,727	834,564
of yen

Notes: (1) NTT's consolidated financial statements are prepared in accordance with International Financial Reporting Standards ("IFRS").

1. As NTT prepares condensed consolidated financial statements, changes in the non-consolidated financial data, are not provided.
2. Diluted earnings per share attributable to NTT is not stated because NTT did not have potentially dilutive common shares that were outstanding during the period.
3. Basic earnings per share attributable to NTT is calculated based on the average number of shares outstanding during the three months ended June 30, 2022, excluding treasury stock. In addition, beginning with the 37th business term, NTT adopted a BIP (Board Incentive Plan) trust stock compensation system for Members of the Board and Executive Officers. As a result, in calculating Basic earnings per share attributable to NTT, shares held by such trust are included in the amount of treasury stock to be deducted from the calculation.

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