<PAGE>
THE TOTAL NUMBER OF PAGES CONTAINED IN THIS DOCUMENT IS 9
FORM 6-K
--------
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of September 1999
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
(Translation of registrant's name into English)
3-1, OTEMACHI 2-CHOME
CHIYODA-KU, TOKYO 100-8116 JAPAN
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.
Form 20-F X Form 40-F ___
---
Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ____ No X
---
If "Yes" is marked, indicate below the file number assigned to the registrant in
connection with Rule 12g3-2(b):
82-____________.
<PAGE>
REVISION OF THE PERFORMANCE FORECAST FOR NTT AND ANNOUNCEMENT OF THE BUSINESS
FORECASTS FOR NTT EAST, NTT WEST AND NTT COMMUNICATIONS FOR THE TERM ENDING
MARCH 31, 2000
On September 14, 1999, the registrant issued a press release (1) revising its
performance forecast for fiscal year 2000 and (2) announcing the business
forecasts for the three wholly-owned operating subsidiaries created as a result
of its reorganization on July 1, 1999: Nippon Telegraph and Telephone East
Corporation (NTT East), Nippon Telegraph and Telephone West Corporation (NTT
West) and NTT Communications Corporation (NTT Communications).
The financial information included in the attached press release was prepared
on the basis of accounting principles generally accepted in Japan and,
accordingly, will not be directly comparable to the financial information
included in the registrant's Annual Report on Form 20-F for the fiscal year
ended March 31, 1999, which information was prepared on the basis of accounting
principles generally accepted in the United States.
The attached forecasts contain certain forward-looking statements. The
registrant desires to qualify for the "safe harbor" provisions of the Private
Securities Litigation Reform Act of 1995, and consequently is hereby filing
cautionary statements identifying important factors that could cause the
registrant's actual results to differ materially from those set forth in the
attachment.
Certain of the attached forecasts are based on a series of projections and
estimates regarding the economy and the telecommunications industry in Japan in
general. The projections and estimates regarding the telecommunications
industry may be affected by the pricing of services, the effects of competition,
and the success of new products, services and new business.
No assurance can be given that the registrant's actual results will not vary
significantly from the included projections.
2
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
NIPPON TELEGRAPH AND TELEPHONE
CORPORATION
By /s/ KAZUTO TSUBOUCHI
---------------------------
Name: Kazuto Tsubouchi
Title: Senior Manager
Investor Relations Group
Department IV
Date: September 14, 1999
<PAGE>
[NTT Logo]
Press Relations
Telephone 03-5205-5550
2-2 Otemachi 2-Chome Chiyoda-ku.
Tokyo 100-0004 Japan
FOR IMMEDIATE RELEASE
September 14, 1999
NTT Amends Projected Non-Consolidated and Consolidated
Financial Results for FY 2000
1. Nippon Telegraph and Telephone Corporation (NTT) has amended its projected
non-consolidated financial results for FY 2000 (April 1, 1999 through March
31, 2000), which were announced on May 26, 1999, as follows:
Projected Financial Results for FY 2000 (Non-Consolidated)
<TABLE>
<CAPTION>
(Millions of yen)
- ------------------------------------------------------------------------ -------------------------
Operating Recurring Profit Net Income Net change in retained
Revenues earnings*
- ------------------------------------------------------------------------ -------------------------
<S> <C> <C> <C> <C>
Before 1,701,000 93,000 77,000 170,000
Amendment (A)
- ------------------------------------------------------------------- -------------------------
After 1,701,000 112,000 93,000 205,000
Amendment (B)
- ------------------------------------------------------------------- -------------------------
Increase 0 19,000 16,000 35,000
(Decrease)
(B)-(A)
- ------------------------------------------------------------------- -------------------------
</TABLE>
* Net income adjusted for previous fiscal year tax benefit
2. Reasons for the Above Revisions
NTT originally projected operating revenues of (Yen)1,701,000 Million recurring
profit of (Yen)93,000 Million and net income of (Yen)77,000 Million for FY
2000. The projections have been revised based on the situation of revenues and
expenditures for the quarter from April 1, 1999 through June 30, 1999 (period
prior to the July 1 reorganization of NTT).
3. Based on the item 2 above and the performance forecasts made for Nippon
<PAGE>
Telegraph and Telephone East Corporation (NTT East) Nippon Telegraph and
Telephone West Corporation (NTT West), and NTT Communications for FY 2000, the
forecast (consolidated basis) for the business performance of NTT for FY 2000
(April 1, 1999 through March 31, 2000) announced on May 26, 1999 with the
release of NTT's performance in FY 1999 (ended March 31, 1999) is hereby revised
as follows.
Projected Financial Results for FY 2000 (Consolidated)
<TABLE>
<CAPTION>
(Millions of yen)
- ------------------------------------------------------------------- -------------------------
Operating Recurring Profit Net Income Net change in retained
Revenues earnings*
- ------------------------------------------------------------------- -------------------------
<S> <C> <C> <C> <C>
Before 10,236,000 713,000 -133,000 477,000
Amendment (A)
- ------------------------------------------------------------------ -------------------------
After 10,333,000 713,000 -128,000 517,000
Amendment (B)
- ------------------------------------------------------------------ -------------------------
Increase 97,000 0 5,000 40,000
(Decrease)
(B)-(A)
- ------------------------------------------------------------------ -------------------------
</TABLE>
* Net income adjusted for previous fiscal year tax benefit
# # #
For further information, Please contact:
Kenya Nakatsuka
Press Relation
Nippon Telegraph and Telephone Corporation
Telephone: (03)5205-5550
E-mail: [email protected]
<PAGE>
(Reference)
Projected Financial Results for
NTT East, NTT West, and NTT Communications
for FY 2000
Outlined below are the projected financial results of Nippon Telegraph and
Telephone East Corporation (NTT East) Nippon Telegraph and Telephone West
Corporation (NTT West), and NTT Communications, which were formed with the
reorganization of NTT and the transfer of business on July 1, 1999, for FY 2000.
Projected Financial Results for FY 2000
<TABLE>
<CAPTION>
(July 1, 1999 through March 31, 2000) (Millions of yen)
- ------------------------------------------------------------------------ -----------------------
Operating Recurring Profit Net Income Net change in
Revenues retained earnings*
- ------------------------------------------------------------------------ -----------------------
<S> <C> <C> <C> <C>
NTT East 2,155,000 43,000 -167,000 50,000
- ------------------------------------------------------------------------ -----------------------
NTT West 2,073,000 -42,000 -243,000 4,000
- ------------------------------------------------------------------------ -----------------------
NTT Communications 1,087,000 103,000 46,000 58,000
- ------------------------------------------------------------------------ -----------------------
</TABLE>
<TABLE>
<CAPTION>
(April 1, 1999 through March 31, 2000) (Millions of yen)
- -------------------------------------------------------------------------------- ------------------------
Operating Recurring Profit Net Income Net change in
Revenues retained earnings*
- -------------------------------------------------------------------------------- ------------------------
<S> <C> <C> <C> <C>
Figures Based on Former 6,114,000 216,000 -271,000 317,000
Single-Company System
(Pre-Reorganization
System)
- -------------------------------------------------------------------------------- ------------------------
</TABLE>
* Net income adjusted for previous fiscal year tax benefit
<PAGE>
Attachment
Revenues and Expenses Plan for FY 2000
<TABLE>
<CAPTION>
(Millions of yen)
- -------------------------------------------------------------------------------------------------------------------
NTT East NTT West NTT (Holding Former NTT (Ref.)
Company) (Figures based Previous Fiscal
on former Year
single-company
system)
- -------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C>
Operating 2,155,000 2,073,000 1,701,000 6,114,000 6,137,000
Revenues
- -------------------------------------------------------------------------------------------------------------------
Voice 1,563,000 1,521,000 1,096,000 4,446,000 4,599,200
Transmission
- -------------------------------------------------------------------------------------------------------------------
Data - - 33,000 180,000 111,600
Transmission
- -------------------------------------------------------------------------------------------------------------------
Leased 263,000 222,000 161,000 672,000 640,000
Circuits
- -------------------------------------------------------------------------------------------------------------------
Telegraph 31,000 34,000 22,000 82,000 84,400
- -------------------------------------------------------------------------------------------------------------------
Others 298,000 296,000 389,000 734,000 701,600
- -------------------------------------------------------------------------------------------------------------------
Non-Operating 32,000 24,000 132,000 110,000 112,800
Revenues
- -------------------------------------------------------------------------------------------------------------------
Total Revenues 2,187,000 2,097,000 1,833,000 6,224,000 6,249,900
- -------------------------------------------------------------------------------------------------------------------
Operating 2,110,000 2,111,000 1,618,000 5,899,000 5,893,100
Expenses
- -------------------------------------------------------------------------------------------------------------------
Operating 1,563,000 1,593,000 1,192,000 4,300,000 4,220,600
Costs
- -------------------------------------------------------------------------------------------------------------------
Taxes and 62,000 58,000 51,000 181,000 181,100
Dues
- -------------------------------------------------------------------------------------------------------------------
Depreciation 485,000 460,000 375,000 1,418,000 1,491,300
- -------------------------------------------------------------------------------------------------------------------
Non-Operating 34,000 28,000 103,000 109,000 119,300
Expenses
- -------------------------------------------------------------------------------------------------------------------
Total Expenses 2,144,000 2,139,000 1,721,000 6,008,000 6,012,500
- -------------------------------------------------------------------------------------------------------------------
Recurring Profit 43,000 -42,000 112,000 216,000 237,300
- ------------------------------------------------------------------------------------------- ------------------
</TABLE>
<PAGE>
Capital Investment Plan for FY 2000
<TABLE>
<CAPTION>
(Millions of yen)
- ---------------------------------------------------------------------------- ----------------
NTT East NTT West NTT (Holding Former NTT (Ref.)
Company) (Figures Previous
based on Fiscal Year
former
single-company
system)
- ---------------------------------------------------------------------------- ----------------
<S> <C> <C> <C> <C> <C>
Expansion and 462,000 464,000 250,000 1,243,000 1,358,200
Improvement of
Services
- ---------------------------------------------------------------------------- ----------------
Voice 425,000 434,000 229,000 1,135,000 1,241,800
Transmission
- ---------------------------------------------------------------------------- ----------------
Data - - 4,000 18,000 31,700
Transmission
- ---------------------------------------------------------------------------- ----------------
Leased 36,000 29,000 17,000 88,000 79,200
Circuits
- ---------------------------------------------------------------------------- ----------------
Telegraph 1,000 1,000 0 2,000 5,300
- ---------------------------------------------------------------------------- ----------------
R&D Facilities 4,000 3,000 69,000 90,000 158,500
- ---------------------------------------------------------------------------- ----------------
Other Facilities 80,000 43,000 27,000 171,000 211,100
- ---------------------------------------------------------------------------- ----------------
Total 546,000 510,000 346,000 1,504,000 1,727,900
- ---------------------------------------------------------------------------- ----------------
Optical Access 110,000 90,000 40,000 240,000 244,000
Network*
- ---------------------------------------------------------------------------- ----------------
</TABLE>
* The figure for investment in the Optical Access Network is included in the
figures in the main chart as well.
<PAGE>
Business Operation Plan for FY 2000
<TABLE>
<CAPTION>
- ------------------------------------------------------------------------------ ----------------
NTT East NTT West NTT (Holding Former NTT (Ref.)
Company) (Figures Previous
based on Fiscal Year
former
single-company
system)
- ------------------------------------------------------------------------------ ----------------
<S> <C> <C> <C> <C> <C>
Subscriber -103 -89 -52 -244 -191
Telephones
(10,000
subscribers)
- ------------------------------------------------------------------------------ ----------------
INS-Net Digital
Services
- ------------------------------------------------------------------------------ ----------------
INS-Net 64 877 788 517 2,182 1,670
Subscriber
Lines
(1,000 lines)
- ------------------------------------------------------------------------------ ----------------
INS Net 1500 7 8 5 20 14
Subscriber
Lines
(1,000 lines)
- ------------------------------------------------------------------------------ ----------------
</TABLE>
