Nippon Telegraph and Telephone Corp NOTICE REGARDING STOCK REPURCHASES (4655Z)

TIDMNPN

RNS Number : 4655Z

Nippon Telegraph and Telephone Corp

06 February 2014

February 6, 2014

 
 
           Company Name: Nippon Telegraph and Telephone Corporation 
Representative: Hiroo Unoura, President and Chief Executive Officer 
            (Code No.: 9432, First section of Tokyo Stock Exchange)

NOTICE REGARDING STOCK REPURCHASES

(Stock Repurchases Under the Provisions of Articles of Incorporation Pursuant to Paragraph 2, Article 165 of the Corporation Law of Japan)

Nippon Telegraph and Telephone Corporation ("NTT") hereby announces that, at a meeting of its board of directors held today, NTT has authorized the repurchase of shares of its common stock pursuant to Article 156 of the Corporation Law of Japan, as applied pursuant to Paragraph 3, Article 165 of the Corporation Law, as described below.

   1.       Reasons for Stock Repurchases:

To improve capital efficiency and to implement NTT's capital policy in light of fluctuations in supply and demand for NTT stock.

   2.       Details of Repurchases: 
   (1)  Class of shares to be repurchased:                  Common stock 
   (2)  Total number of shares to be repurchased:       Up to 38 million shares

(Proportion of the number of outstanding shares: 3.34%)

   (3)  Aggregate repurchase amount:                        Up to 200 billion yen 
   (4)  Period for repurchases:                                  February 7, 2014  March 31, 2014

(5) Method of repurchases: Through the Tokyo Stock Exchange Trading Network Off- Auction Own Share Repurchase Trading System (ToSTNeT-3)

(Planned)

(For reference) Number of shares of treasury stock (as of December 31, 2013):

                 Number of outstanding shares:                           1,136,612,370 shares 
                 Number of shares of treasury stock:                   84,865 shares 
 
 
For further inquiries, please contact: 
 
Takuro Hanaki 
Investor Relations Office 
Finance and Accounting Department 
Nippon Telegraph and Telephone Corporation 
Phone:                                       +81-3-6838-5481 
Fax:                                         +81-3-6838-5499

This information is provided by RNS

The company news service from the London Stock Exchange

END

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