<PAGE>
THE TOTAL NUMBER OF PAGES CONTAINED IN THIS DOCUMENT IS 26.
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 November 2000
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>
ANNOUNCEMENT OF FINANCIAL RESULTS FOR FIRST HALF OF FISCAL YEAR ENDING MARCH 31,
2001
On November 20, 2000, the registrant filed with the Tokyo Stock Exchange
and other stock exchanges in Japan information as to the registrant's financial
condition and results of operations for the first half of the fiscal year ending
March 31, 2001 as well as the financial condition and results of operation for
the same period of the registrant's three wholly-owned subsidiaries
(collectively, the "Subsidiaries"): Nippon Telegraph and Telephone East
Corporation, Nippon Telegraph and Telephone West Corporation and NTT
Communications Corporation. Attached hereto are copies of press releases dated
November 20, 2000 pertaining to the financial condition and results of
operations of the registrant and such Subsidiaries, as well as forecasts for the
operations of the registrant and such Subsidiaries for the remainder of the
fiscal year ending March 31, 2001. The financial information included in the
press releases was prepared on the basis of accounting principles generally
accepted in Japan and, accordingly, will not be directly comparable to the
financial information to be included in the registrant's Annual Report on Form
20-F for the fiscal year ending March 31, 2001, which information will be
prepared on the basis of accounting principles generally accepted in the United
States.
The earning projections by the registrant and the Subsidiaries for the
fiscal year ending March 31, 2001 included in the attachment contain 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 and Subsidiaries' actual results to
differ materially from those set forth in the attachment.
Such earning projections 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 and Subsidiaries' actual
results will not vary significantly from the projected earnings.
<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: November 20, 2000
<PAGE>
1. STATUS OF THE CORPORATE GROUP
The principal businesses of the NTT Group (NTT and its affiliates) cover
regional, long-distance and international communications services, mobile
communication services, and data communication services.
The business results of consolidated subsidiaries and their respective positions
in the NTT Group are as follows:
(1) Regional Communications Businesses
----------------------------------
The principal elements in this business consist of intra-prefectural
communications services and related ancillary services pertaining to domestic
communications services.
(Consolidated Subsidiaries)
Nippon Telegraph and Telephone East Corporation (NTT East), Nippon Telegraph and
Telephone West Corporation (NTT West).
(2) Long-Distance and International Communications Businesses
---------------------------------------------------------
The principal elements in this business consist of inter-prefectural
communications services, international communications services and ancillary
services pertaining to international communications services.
(Consolidated Subsidiaries)
NTT Communications Corporation, NTT America, Inc., NTT Rocky, Inc., NTTA&T
Investment, Inc., ntta.com, inc., TELETECHNO, Inc., Milletechno, Inc., NTTA&A
Investment, Inc., NTT MULTIMEDIA COMMUNICATIONS LABORATORIES, Inc., Autoweb
Communications, Inc., NTT AUSTRALIA PTY. Ltd., NTT Worldwide Telecommunications
Corporation, NTT EUROPE LTD., NTT MSC SDN. BHD., NTT SINGAPORE PTE. LTD., NTT
(HONG KONG) LIMITED, NTT Taiwan Ltd., NTT Korea Co., Ltd., NTT do Brazil
Participacoes Ltda.
(3) Mobile Communications Businesses
--------------------------------
The principal elements in this business consist of mobile telephone services,
car telephone services, PHS services, paging services and related ancillary
services.
(Consolidated Subsidiaries)
NTT DoCoMo, Inc., NTT DoCoMo Hokkaido, Inc., NTT DoCoMo Tohoku, Inc.,
<PAGE>
NTT DoCoMo Tokai, Inc., NTT DoCoMo Hokuriku, Inc., NTT DoCoMo Kansai, Inc., NTT
DoCoMo Chugoku, Inc., NTT DoCoMo Shikoku, Inc., NTT DoCoMo Kyushu, Inc.
(4) Data Communication Businesses
-----------------------------
The principal elements in this business consist of systems integration services
and network system services.
(Consolidated Subsidiary)
NTT Data Corporation
(5) Other Businesses
----------------
Nippon Telegraph and Telephone Corporation
(Consolidated Subsidiaries)
Other Affiliates of the Holding Company
NTT Power and Building Facilities Inc., NTT Urban Development Co., NTT Comware
Corporation, NTT Leasing Co., Ltd., NTT Auto Leasing Co., Ltd., NTT Finance
Japan Co.,Ltd, NTT Software Corporation., NTT Electronics Corporation, NTT
Advanced Technology Corporation, NTT IT Corporation.
Regional Communications Businesses Support Group
NTT-ME Hokkaido Co., Ltd., NTT-ME Tohoku Co., Ltd., NTT-ME Corporation, NTT-ME
Tokai Co., Ltd., NTT-ME Hokuriku Co., Ltd., NTT-ME Kansai Co., Ltd., NTT-ME
Chugoku Co., Ltd., NTT-ME Shikoku Co., Ltd., NTT-ME Kyushu Co., Ltd., NTT-Do
Inc., NTT Directory Services Co., NTT Teleca Corporation.
Long-Distance and International Businesses Support Group Verio Inc., NTT
World Engineering Marine Corporation, and 22 other companies.
Group organizational chart appears on the following page.
<PAGE>
ORGANIZATIONAL CHART OF THE NTT GROUP
Customer
<TABLE>
<S> <C> <C> <C>
Regional Communications Long-Distance and Mobile Communications Data Communication
Businesses International Businesses Businesses
* NTT East Communications Businesses * NTT DoCoMo * NTT Data
* NTT West * NTT Communications * eight regional DoCoMo
* 18 international companies
companies
Other Businesses
Regional Communications Long-Distance and Mobile Communications Data Communications
Support Group International Support Group Support Group
- Engineering Businesses Communications Support - Engineering Businesses - SE Services
* NTT-ME Group DoCoMo Engineering NTT System Technologies
* eight regional NTT-ME companies, - Internet Related DoCoMo Mobile, and others NTT System Service, and others
and others Businesses - Others - Network Services
NTTPC Communications DoCoMo Service NTT Data Financial
- Telephone Directory Businesses NTT Satellite Communications, DoCoMo Support Dream Net, and others
* NTT Directory Services and others Nippon Senpaku Tsushin, - Others
NTT Business Information Service. - Others and others NTT DATA Tokyo SMS
and others * Verio Inc. NTT DATA Customer Service, and
- Telemarketing Businesses * NTT World Engineering Marine, others
NTT Telemarketing and others
NTT Dynamic Telema, and others
- Internet Related
Businesses
Plala Networks, and others
- Others
* NTT Teleca, and others
Other Affiliates of the Holding
Company
- Engineering Businesses
* NTT Power and Building Facilities,
and others
- Real Estate Businesses
* NTT Urban Development, and others
- SI and Information
Processing
Businesses
* NTT Comware
Nippon Information and
Communication, and others
- Financing Businesses
* NTT Leasing
* NTT Auto Leasing, and others
- Advanced Technologies
Development Businesses
* NTT Software
* NTT Electronics, and others
- Others
NTT Business Associe
NTT Advertising, and others
</TABLE>
---------------------------
* Consolidated subsidiaries
------------------------------
Nippon Telegraph and Telephone
Corporation
------------------------------
<PAGE>
2. BUSINESS OPERATION POLICY
(1) Basic Business Operation Policy
-------------------------------
The NTT Group is actively pursuing the development of new businesses as part of
our efforts toward transformation into a "Global Information Sharing Corporate
Group." Specific activities include: (1) further upgrading our network-based
"information communication businesses", especially by improving our fiber optic
access and other networks, and developing the information sharing markets
including platforms, contents, and terminals; (2) undertaking worldwide
information sharing businesses by providing comprehensive and seamless services
in fixed, mobile, and data and IP formats; and (3) fully utilizing the
advantages of assigning R&D functions to the holding company and other synergy
effects to maximize the value of the entire Group and the development of its
businesses. Each of the member companies of the NTT Group is committed to
pursuing greater management efficiency while acting independently to take the
initiative in developing new business opportunities, and thus making an active
contribution to advancing Japan's "IT revolution" and to reinforcing the
nation's international competitiveness.
(2) Basic Principle concerning Profit Allocation
--------------------------------------------
NTT believes it is very important for it to reinforce its financial standing and
to serve the best interests of shareholders over the long run. As such, NTT has
adopted as its basic principle the payment of appropriate dividends while acting
to secure necessary levels of internal reserves.
Such internal reserves will be utilized to reinforce NTT's financial standing.
3. BUSINESS RESULTS
(1) First-Half Results for Fiscal Year Ending March 31, 2001
--------------------------------------------------------
During the six-month period under review, severe conditions persisted in the
Japanese economy. There were, however, continuing signs of a gradual
improvement toward a self-sustaining economic recovery, especially in the
corporate sector.
In the telecommunications markets, the numbers of Internet users and mobile
telephone subscribers continued to increase, and the movement toward competition
within a single global market accelerated with further globalization and the
ongoing advance of seamless services.
In this rapidly changing business environment, NTT Group companies actively
promoted the global information sharing businesses and worked toward the
development of diversified services available at inexpensive rate.
<PAGE>
Pursuant to these developments, NTT's first-half business results for the fiscal
year ending March 31, 2001 were as follows. Consolidated operating revenue
amounted to 5,485.8 billion yen (up 9.5% from the same period of the previous
year), consolidated recurring profit amounted to 551.0 billion yen (up 11.9%
from the same period of the previous year), and consolidated net profit reached
175.3 billion yen (down 27.1% from the same period of the previous year).
With respect to cash flow activities during the period under review, NTT
obtained from its operating activities cash in the amount of 1,370.5 billion
yen, spent 2,671.0 billion yen on investment activities, and obtained 672.8
billion yen from financing activities. As a result of these activities, NTT had
cash and cash equivalents in the amount of 526.3 billion yen at the end of the
period.
In accordance with basic profit-allocation principle presented above, for the
period under review NTT will be distributing an interim cash dividend of 2,500
yen per share of common stock.
The business results of the principal member companies of the NTT Group during
the period under review are as follows:
Nippon Telegraph and Telephone Corporation (Holding Company)
------------------------------------------------------------
NTT functions as a pure holding company for the NTT Group. While respecting
independence of individual Group companies, NTT exercises its rights as a
shareholder in accordance with the criteria of whether the activities of the
individual companies are in harmony with the overall business objectives of the
Group and whether appropriate initiatives are being taken in these directions.
At the general shareholders' meetings of the NTT Group companies held during the
period under review, NTT exercised its rights as a shareholder by voting in
support of the profit allocation, director appointment, and other proposals of
the individual companies, which it judged to be appropriate in view of their
financial standing, internal reserve conditions, and business operating
conditions during the previous year (fiscal year ending March 31, 2000). As a
result, NTT received a total of 68.4 billion yen in dividends.
During the period under review, in order to achieve efficient group management
and increase the synergy effect from the Group companies' operations, NTT set
the business direction for the entire NTT Group, and for each of the individual
Group companies based on this overall direction by compiling the NTT Group
Three-Year Business Plan, and by otherwise providing guidance and intermediary
services to the individual companies. During the period under review, NTT
received total payments of 12.4 billion yen in compensation for these services.
In addition, NTT conducted diverse research and development activities related
to the information sharing infrastructure, including the development of an "SC
light source" that enables wavelength multiplex communication carrying over
<PAGE>
1,000 channels. During the period under review, NTT received total payments of
100.7 billion yen as compensation for these basic research and development
activities.
Pursuant to these activities, NTT's stand-alone business results for the period
under review were as follows. Operating revenue amounted to 199.1 billion yen
(down 87.0% from the same period of the previous year), recurring profit
amounted to 104.1 billion yen (down 2.0% from the same period of the previous
year), and the net profit for the period was 161.3 billion yen (up 8.2% from the
same period of the previous year). The substantial declines in operating revenue
and other performance indices were the result of the transfer of various
businesses to NTT East, NTT West, and NTT Communications on July 1, 1999. If
these businesses had not been transferred, it is estimated that during the
period under review NTT would have posted 2,968.1 billion yen in operating
revenue (down 0.8% from the same period of the previous year), 99.3 billion yen
in recurring profit (down 18.4% from the same period of the previous year), and
net profit of 114.9 billion yen (down 2.3% from the same period of the previous
year).
Nippon Telegraph and Telephone East Corporation and Nippon Telegraph and
------------------------------------------------------------------------
Telephone West Corporation
--------------------------
NTT East and NTT West provide intra-prefectural communications services. While
striving to provide stable universal services, these two regional operating
companies have also actively worked toward upgrading and diversifying their
services, reducing user fees, and improving the overall efficiency of their
operations.
The regional operating companies have been offering an IP connection service,
which provides flat-rate access to the Internet via ISDN lines, to existing INS-
Net customers on an experimental basis. Based on the customer response during
the trial period, they have decided to reduce the fixed monthly fees, expand the
provision area, and launch the service on a full-fledged basis under the new
name "FLET'S ISDN". The regional operating companies have also decided to
reduce their long-distance intra-prefectural telephone charges.
NTT East and NTT West will be implementing additional personnel reductions to
respond to the harsh business environment that has arisen from intensified
competition and other factors. Voluntary retirement programs will be instituted
during the second half of fiscal year ending March 31, 2001 and throughout
fiscal year ending March 31, 2002.
As a result of these activities, NTT East registered operating revenues of
1,383.8 billion yen for the period under review, while NTT West reported
operating revenues of 1,315.2 billion yen.
NTT Communications Corporation
------------------------------
<PAGE>
NTT Communications provides inter-prefectural and international communications
services, and has been placing top priority on developing its business by
upgrading existing services and establishing a structure for the provision of
global IP services.
During the period under review, NTT Communications reduced its fees for both
inter-prefectural and international communications services, expanded its OCN
services, and launched various IP services on a full-fledged basis.
Additionally, NTT Communications purchased the U.S. Internet solutions provider
Verio Inc. to enhance its abilities to provide advanced IP and other global
services.
As a result of these activities, NTT Communications registered operating
revenues of 664.8 billion yen for the period under review.
NTT Data Corporation
--------------------
NTT Data primarily provides systems integration and network system services, and
has been placing top priority on reinforcing the competitiveness of its systems
integration business and on advancing and strengthening new business fields.
During the period under review, NTT Data continued to provide stable services
for large-scale systems, endeavored to expand its capabilities and develop
peripheral businesses, and also actively promoted its outsourcing businesses and
other consigned works.
Additionally, NTT Data advanced its "IT Partner Business", whereby new ventures
are created through operating alliances and joint investment with clients, as
well as its "Service Provider Business" which offers a full line of essential
services to information network firms.
As a result of these activities, NTT Data registered operating revenues of 340.8
billion yen for the period under review (up 11.5% from the same period of the
previous year).
NTT DoCoMo, Inc.
----------------
NTT DoCoMo primarily provides mobile telephone services, PHS services, and pager
services, and has been developing its business through the diversification of
services, the reduction of user fees, and efforts toward the realization of
full-scale mobile multimedia.
During the period under review, NTT DoCoMo endeavored to expand the contents and
improve the quality of its "i-mode" services, released a new series
<PAGE>
of i-mode compatible mobile telephones and other new products, reduced user
fees, launched the world's smallest and lightest datacard PHS, and worked to
promote greater usage and to cultivate new demand.
Additionally, in order to promote the global development of the next-generation
mobile communications system IMT-2000 and of mobile multimedia, NTT DoCoMo took
equity stakes in the Dutch cellular holding company KPN Mobile N.V., which
controls several mobile common carriers, primarily in Europe, and in the British
holding company Hutchison 3G UK Holdings Ltd., which holds next-generation
mobile telephone licenses.
As a result of these activities, NTT DoCoMo and its eight regional subsidiaries
registered total operating revenues of 2,330.0 billion yen for the period under
review (up 26.5% from the same period of the previous year).
(2) Projections for Fiscal Year Ending March 31, 2001
-------------------------------------------------
During the second half of fiscal year ending March 31, 2001, the Japanese
economy is expected to gradually improve as household income has stopped
declining and corporate capital investment is recovering.
In the information communications sector, the intensification of competition is
projected to spur further industry restructuring and service diversification.
In this business environment, the NTT Group aims to provide a full line of low-
priced fiber optic access, DSL, ISDN, and other services. The NTT Group is
moving forward with its research and development efforts to create revolutionary
applications that capitalize on the unique characteristics of fiber optics, and
to develop the telecommunications technologies and information sharing platform
technologies required to support this. The entire NTT Group is also addressing
the reallocation of personnel and other cost reduction measures at NTT East and
NTT West toward solidifying the management foundations of both regional
operating companies as quickly as possible.
The projections for the full fiscal year ending March 31, 2001 are as follows.
Consolidated operating revenues are projected to reach 11,323.0 billion yen (up
8.7% from the previous year). Consolidated recurring profit is projected to
total 747.0 billion yen (down 9.5% from the previous year), while consolidated
net profit is projected to reach 186.0 billion yen.
For the fiscal year ending March 31, 2001, we expect to offer common dividends
of 5,000 yen per share.
In accordance with the resolutions passed at the NTT Board of Directors meetings
held on September 29, 2000 and October 23, 2000, NTT implemented a capital
increase via a public stock offering of 300,000 new shares on November 10, 2000.
<PAGE>
Attachment 4
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
------------------------------------------
NON-CONSOLIDATED BALANCE SHEET
------------------------------
(Based on Japanese Accounting Principles)
<TABLE>
<CAPTION>
March 31, 2000 September 30, 2000
--------------- ------------------
Millions Millions Millions
of Yen of Yen of US$
------ ------ ------
ASSETS
------
<S> <C> <C> <C>
CURRENT ASSETS 765,801 453,965 4,203
FIXED ASSETS 7,303,161 7,325,442 67,828
TOTAL ASSETS 8,068,962 7,779,408 72,031
========= ========= ======
LIABILITIES
-----------
CURRENT LIABILITIES:
Current portion of long-term debt 250,503 313,362 2,901
Accounts payable, trade 11,492 4,523 41
Accrued taxes on income --- 82,896 767
Other 538,716 72,192 668
Total current liabilities 800,712 472,974 4,379
--------- --------- ------
LONG-TERM LIABILITIES:
Long-term debt 2,425,854 2,285,406 21,161
Liability for employees' severance payments 26,225 33,520 310
Other 497 488 4
Total long-term liabilities 2,452,576 2,319,415 21,476
--------- --------- ------
TOTAL LIABILITIES 3,253,288 2,792,390 25,855
--------- --------- ------
SHAREHOLDERS' EQUITY
--------------------
Common stock 795,600 795,600 7,366
Additional paid-in capital 2,530,476 2,530,476 23,430
Legal reserve 123,372 127,336 1,179
Special depreciation reserve 31,567 24,278 224
Reserve for buy-back of shares 0 --- ---
General reserves 895,000 1,045,000 9,675
Unappropriated retained earnings 439,656 414,714 3,839
Unrealized gain on securities --- 49,612 459
TOTAL SHAREHOLDERS' EQUITY 4,815,673 4,987,017 46,176
--------- --------- ------
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY 8,068,962 7,779,408 72,031
========= ========= ======
</TABLE>
Note: Yen amounts have been translated, for convenience only, at \108=US$1.00,
the approximate exchange rate on September 29, 2000. Fractions are
rounded down.
<PAGE>
Attachment 5
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
------------------------------------------
NON-CONSOLIDATED STATEMENT OF INCOME
------------------------------------
(Based on Japanese Accounting Principles)
<TABLE>
<CAPTION>
Six-months Ended September 30
------------------------------
1999 2000
------- ---------
Millions Millions Millions
of Yen of Yen of US$
--------- -------- --------
<S> <C> <C> <C>
OPERATING REVENUES 1,528,871 199,144 1,843
OPERATING EXPENSES 1,427,227 110,135 1,019
OPERATING INCOME 101,644 89,009 824
NON-OPERATING REVENUES 68,671 66,263 613
NON-OPERATING EXPENSES 63,946 51,082 472
RECURRING PROFIT 106,368 104,189 964
EXTRAORDINARY PROFIT 71,827 131,557 1,218
EXTRAORDINARY LOSS 4,293 7,376 68
INCOME BEFORE TAXES 173,902 228,370 2,114
CORPORATION, INHABITANT AND ENTERPRISE TAXES
CURRENT 24,800 100,000 925
DEFERRED --- (33,000) (305)
NET INCOME 149,102 161,370 1,494
--------- ------- -----
</TABLE>
Note: Yen amounts have been translated, for convenience only, at \108=US$1.00,
the approximate exchange rate on September 29, 2000. Fractions are
rounded down.
<PAGE>
Attachment 1
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
------------------------------------------
CONSOLIDATED BALANCE SHEET
--------------------------
(Based on Japanese Accounting Principles)
<TABLE>
<CAPTION>
March 31, 2000 September 30, 2001
-------------- -------------------
Millions Millions Millions
of Yen of Yen of US$
------ ------ ------
<S> <C> <C> <C>
ASSETS
------
FIXED ASSETS 14,834,418 16,361,002 151,490
CURRENT ASSETS 3,577,281 3,215,144 29,769
TOTAL ASSETS 18,411,700 19,576,146 181,260
========== ========== =======
LIABILITIES
-----------
LONG-TERM LIABILITIES:
Long-term debt 4,318,019 4,083,059 37,806
Liability for employees' severance payments 2,950,326 3,243,298 30,030
Other 584,781 610,519 5,652
Total long-term liabilities 7,853,127 7,936,878 73,489
---------- ---------- -------
CURRENT LIABILITIES:
Current portion of long-term debt 820,736 819,997 7,592
Accounts payable, trade 759,679 611,408 5,661
Short-term borrowings 347,290 1,294,117 11,982
Accrued taxes on income 346,896 374,564 3,468
Other 1,277,805 1,253,508 11,606
Total current liabilities 3,552,407 4,353,597 40,311
---------- ---------- -------
TOTAL LIABILITIES 11,405,535 12,290,475 113,800
---------- ---------- -------
MINORITY INTEREST IN CONSOLIDATED
---------------------------------
SUBSIDIARIES 869,548 959,000 8,879
------------ ---------- ---------- -------
SHAREHOLDERS' EQUITY
--------------------
Common stock 795,600 795,600 7,366
Additional paid-in capital 2,530,476 2,530,476 23,430
Retained earnings 2,810,591 2,913,661 26,978
Unrealized gain on securities --- 90,653 839
Foreign currency translation adjustment (13,958) (3,688) (34)
Treasury stock (51) (30) (0)
TOTAL SHAREHOLDERS' EQUITY 6,136,616 6,326,671 58,580
---------- ---------- -------
TOTAL LIABILITIES,MINORITY INTEREST IN
CONSOLIDATED SUBSIDIARIES AND
SHAREHOLDERS' EQUITY 18,411,700 19,576,146 181,260
========== ========== =======
</TABLE>
Note: Yen amounts have been translated, for convenience only, at \108=US$1.00,
the approximate exchange rate on September 30, 2000. Fractions are
rounded down.
<PAGE>
Attachment 2
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
------------------------------------------
CONSOLIDATED STATEMENT OF INCOME
--------------------------------
(Based on Japanese Accounting Principles)
<TABLE>
<CAPTION>
Six-months Ended September 30
-----------------------------
1999 2000
--------- ---------
Millions Millions Millions
of Yen of Yen of US$
------ ------ ------
<S> <C> <C> <C>
OPERATING REVENUES 5,009,196 5,485,818 50,794
OPERATING EXPENSES 4,445,311 4,875,523 45,143
OPERATING INCOME 563,885 610,294 5,650
NON-OPERATING REVENUES 30,166 36,802 340
NON-OPERATING EXPENSES 101,840 96,091 889
RECURRING PROFIT 492,210 551,005 5,101
EXTRAORDINARY PROFIT 69,253 131,557 1,218
EXTRAORDINARY LOSS 31,800 208,862 1,933
INCOME BEFORE TAXES 529,663 473,699 4,386
CORPORATION, INHABITANT 222,263 206,145 1,908
AND ENTERPRISE TAXES
MINORITY INTEREST IN CONSOLIDATED
SUBSIDIARIES 66,994 92,187 853
NET INCOME 240,405 175,366 1,623
--------- --------- ------
</TABLE>
Note: Yen amounts have been translated, for convenience only, at \108=US$1.00,
the approximate exchange rate on September 30, 2000. Fractions are rounded
down.
<PAGE>
Attachment 3
NIPPON TELEGRAPH AND TELEPHONE CORPORATION
------------------------------------------
CONSOLIDATED STATEMENT OF CASH FLOWS
------------------------------------
(Based on Japanese Accounting Principles)
<TABLE>
<CAPTION>
Six-months Ended September 30
-----------------------------
2000
----
Millions Millions
of Yen of US$
------ ------
<S> <C> <C>
Cash flows from operating activities:
Income before taxes 473,699 4,386
Depreciation and amortization 1,247,666 11,552
Loss on sale or disposal of property, plant and equipment 75,443 698
Increase (decrease) in liability for employees' severance payments 292,972 2,712
(Increase) decrease in notes and accounts receivable, trade (317,434) (2,939)
Increase (decrease) in accounts payable, trade and accrued payroll (50,107) (463)
Increase (decrease) in accrued consumption tax (14,094) (130)
Other (145,518) (1,347)
------------------------------------------------------------------------------------------------------
1,562,627 14,468
------------------------------------------------------------------------------------------------------
Proceeds from interest and dividends 2,232 20
Payments for interest (70,026) (648)
Payments for taxes on income (124,259) (1,150)
------------------------------------------------------------------------------------------------------
Net cash provided by operating activities 1,370,573 12,690
------------------------------------------------------------------------------------------------------
Cash flows from investing activities:
Payments for property, plant and equipment (1,479,066) (13,695)
Acquisition of investments (644,695) (5,969)
Other (547,264) (5,067)
------------------------------------------------------------------------------------------------------
Net cash used in investing activities (2,671,026) (24,731)
------------------------------------------------------------------------------------------------------
Cash flows from financing activities:
Proceeds from issuance of long-term debt 91,123 843
Payments for settlement of long-term debt (327,920) (3,036)
Increase (decrease) in short-term borrowings 951,742 8,812
Dividends paid (39,586) (366)
Other (2,492) (23)
------------------------------------------------------------------------------------------------------
Net cash provided (used) by financing activities 672,866 6,230
------------------------------------------------------------------------------------------------------
Effect of exchanges on cash and cash equivalents (1,382) (12)
------------------------------------------------------------------------------------------------------
Net decrease in cash and cash equivalents (628,968) (5,823)
Cash and cash equivalents at beginning of year 1,155,275 10,696
------------------------------------------------------------------------------------------------------
Cash and cash equivalents at end of year 526,306 4,873
======================================================================================================
</TABLE>
Note: Yen amounts have been translated, for convenience only, at \108=US$1.00,
the approximate exchange rate on September 30, 2000. Fractions are rounded
down.
<PAGE>
Attachment 6
Nippon Telegraph and Telephone Corporation
November 20, 2000
NTT's Shares and Shareholders (as of September 30, 2000)
1. Classification of Shareholders
<TABLE>
<CAPTION>
-------------------------------------------------------------------------------------------------------------------
NTT's Shares and Shareholders
-----------------------------------------------------------------------------------------
Foreign
Details Government Other Corporations, Domestic Odd-Lot
and Public Financial Securities Domestic etc. Individuals, Total Shares
Bodies Institutions Firms Corporations (Individuals) etc.
-------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C>
Total Holders 1,333
6 785 163 15,505 (90) 1,364,003 1,381,795
===================================================================================================================
Total Shares 2,264,179
8,414,953 1,984,319 50,005 332,527 (252) 2,746,094 15,792,077 42,513
-----------------------------------------------------------------------------------------------------------
% 14.34
53.29 12.56 0.32 2.10 (0.00) 17.39 100.00
-------------------------------------------------------------------------------------------------------------------
</TABLE>
Note:1. "Other Domestic Corporations" includes 8,192 shares under the name of
Japan Securities Depository Center, and "Odd-Lot Shares" includes
0.72 shares under the name of Japan Securities Depository Center.
2. "Domestic Individuals, etc." includes 49 shares of treasury stock,
and "Odd-Lot Shares" includes 0.40 shares of treasury stock. The
actual number of treasury stocks at the end of September 30, 2000 was
24.40.
3. The number of shareholders who own only odd-lot shares is 266,261.
2. Classification by Number of Shares
<TABLE>
<CAPTION>
---------------------------------------------------------------------------------------------------------------------
NTT's Shares and Shareholders
------------------------------------------------------------------------------------------
Details At Least At Least At Least At Least At Least At Least 5 At Least 1 Total Odd-Lot
1,000 500 100 50 10 Shares
---------------------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Number of 403 194 1,246 1,352 25,418 63,226 1,289,956 1,381,795
Holders
---------------------------------------------------------------------------------------------------------
% 0.03 0.01 0.09 0.10 1.84 4.58 93.35 100.00
=====================================================================================================================
Total Shares 12,686,698 134,295 250,113 88,254 394,686 379,562 1,858,469 15,792,077 42,513
---------------------------------------------------------------------------------------------------------
% 80.34 0.85 1.58 0.56 2.50 2.40 11.77 100.00
---------------------------------------------------------------------------------------------------------------------
</TABLE>
Note: 1. "At Least 1,000" includes 8,192 shares under the name of the Japan
Securities Depository Center, and "Odd-Lot Shares" includes 0.72
shares under the name of Japan Securities Depository Center.
2. "At Least 10" includes 49 shares of treasury stock, and "Odd-Lot
Shares" includes 0.40 shares of treasury stock.
3. Principal Shareholders
<TABLE>
<CAPTION>
------------------------------------------------------------------------------------------------------------------------
Name Share Holdings Percent of Total Shares Issued
------------------------------------------------------------------------------------------------------------------------
<S> <C> <C>
The Minister of Finance 8,414,884.26 53.14
State Street Bank and Trust Company 261,054.00 1.65
The Sumitomo Trust & Banking Co., Ltd. 250,948.00 1.58
The Mitsubishi Trust and Banking Corporation 200,599.00 1.27
The Chase Manhattan Bank, N.A. London 184,161.00 1.16
The Chase Manhattan Bank, N.A. London SL Omnibus Account 130,366.00 0.82
NTT Employee Share-Holding Association 130,154.22 0.82
Nippon Life Insurance Company 108,364.68 0.68
Boston Safe Deposit PSDT, Treaty Clients Omnibus 106,873.00 0.67
Moxley and Company 100,881.00 0.64
------------------------------------------------------------------------------------------------------------------------
Total 9,888,285.16 62.45
------------------------------------------------------------------------------------------------------------------------
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Nippon Telegraph and Telephone East Corporation
November 20, 2000
Non-Consolidated Statement of Income
Interim Results for Fiscal Year Ending March 31, 2001
(Based on Japanese Accounting Principles)
Profit and Loss
(Unit: Billions of Yen)
<S> <C> <C>
Details Six-Months Ended Sept. 30, 2000 Three-Months Ended Sept. 30, 1999
Operating Revenues 1,383.8 696.5
Operating Expenses 1,337.6 681.4
Operating Income 46.1 15.1
Non-Operating Income (15.6) (4.1)
Recurring Profit 30.5 10.9
Extraordinary Loss 8.7 -
Income Before Taxes 21.7 10.9
Income Taxes 9.7 18.1
Net Income 12.0 (7.1)
</TABLE>
Note: The cumulative effect of the change in accounting principles for severance
indemnities (87.3 billion) is devided evenly over a five-year
period(17.4billion per year).
Projection for Fiscal Year Ending March 31, 2001
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Fiscal Year Ending March 31, 2001 Nine-Months Ended March 31, 2000
<S> <C> <C>
Operating Revenues 2,803.0 2,154.7
Operating Income 40.0 70.7
Recurring Profit 20.0 56.7
Net Income (4.0) (157.2)
</TABLE>
<PAGE>
Breakdown of Operating Revenues and Operating Expenses
(1) Operating Revenues
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Service Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Voice Transmission Services Revenues 995.6 514.8
Telephone Services Revenues* 744.0 420.0
Monthly Charge Revenues* 381.3 202.7
Call Rates Revenues* 274.0 168.4
Interconnection Call Revenues* 98.0 74.4
ISDN Services Revenues* 251.2 94.5
Data Transmission Services Revenues 1.6 0.3
Leased Circuit Services Revenues 183.2 91.3
High-Speed Digital Circuits Services Revenues* 70.6 36.7
Telegram Services Revenues 18.0 8.0
Other Telecommunications Services Revenues 71.6 35.3
Related Business Revenues 113.5 46.5
System Integration Service Revenue and Other* 34.3 13.8
Total 1,383.8 696.5
(Reference) Information Network Services Revenues 314.7 126.8
</TABLE>
* Listed again
(2) Operating Expenses
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Personnel 318.4 156.5
Cost of Supplies 609.3 313.9
Service Fees for Subcontractors 12.6 7.2
Depreciation 318.3 160.5
Retirement of Fixed Assets 31.6 22.5
Miscellaneous Taxes 47.1 20.5
Total 1,337.6 681.4
(Reference) Non-Operating Expenses 37.6 15.1
Financial Expenses* 17.0 10.8
</TABLE>
<PAGE>
Assets,Liabilities and Shareholders' Equity
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Sept. 30, 2000 March 31, 2000 Increase (Decrease) Percent Increase (Decrease)
<S> <C> <C> <C> <C>
Fixed Assets 4,330.4 4,399.6 (69.1) (1.6)
Current Assets 743.5 936.9 (193.4) (20.6)
Total Assets 5,074.0 5,336.5 (262.5) (4.9)
Long-Term Liabilities 2,208.5 2,296.4 (87.8) (3.8)
Current Liabilities 779.4 966.2 (186.7) (19.3)
Total Liabilities 2,988.0 3,262.6 (274.6) (8.4)
Interest-Bearing Liabilities* 1,056.4 1,331.0 (274.5) (20.6)
Shareholders' Equity 2,086.0 2,073.9 12.0 0.6
Total of Liabilities and Shareholders' Equity 5,074.0 5,336.5 (262.5) (4.9)
</TABLE>
* Listed again
Cash Flows
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Six-Months Ended Nine-Months Ended
Sept. 30, 2000 March 31, 2000
<S> <C> <C>
Cash Flows from Operating Actitvities 475.9 575.1
Cash Flows from Investing Actitvities (311.5) (402.1)
Cash Flows from Financing Actitvities (274.5) (5.3)
Cash and Cash Equivalents at end of year 63.7 173.9
</TABLE>
Reference
1.Number of Subscriber Lines
<TABLE>
<CAPTION>
Percent Increase
Details Sept. 30, 2000 Sept. 30, 1999 Increase (Decrease) (Decrease)
<S> <C> <C> <C> <C>
Number of Telephone Subscriber Lines(1,000) 26,548 28,359 (1,810) (6.4)
Number of ISDN Subscriber Lines(1,000) 4,933 3,099 1,894 61.1
Number of Subscriber Lines 31,541 31,458 84 0.3
</TABLE>
Note: 1. "Number of Telephone Subscriber Lines" is the total of individual
lines and central station lines.
2. "Number of ISDN Subscriber Lines"(consisting of INS-Net 64,INS-Net
1500 and INS-Net 64 Light) is calculated in terms of INS-Net64.
2.Number of Employees
<TABLE>
<CAPTION>
(Unit: Employees)
Percent Increase
Details Sept. 30, 2000 Sept. 30, 1999 Increase (Decrease) (Decrease)
<S> <C> <C> <C> <C>
Number of Employees 57,350 59,550 2,200 (3.7)
<CAPTION>
3.Capital Expenditures
(Unit: Billions of Yen)
Details Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Capital Expenditures 246.7 157.7
</TABLE>
<PAGE>
<TABLE>
<CAPTION>
Nippon Telegraph and Telephone West Corporation
November 20, 2000
Non-Consolidated Statement of Income
Interim Results for Fiscal Year Ending March 31, 2001
(Based on Japanese Accounting Principles)
Profit and Loss
(Unit: Billions of Yen)
Details Six-Months Ended Sept. 30, 2000 Three-Months Ended Sept. 30, 1999
<S> <C> <C>
Operating Revenues 1,315.2 679.8
Operating Expenses 1,347.3 693.4
Operating Income (32.0) (13.6)
Non-Operating Income (9.5) (8.1)
Recurring Profit (41.6) (21.7)
Extraordinary Loss 10.7 -
Income Before Taxes (52.3) (21.7)
Income Taxes (21.3) 5.3
Net Income (31.0) (27.1)
</TABLE>
Note: The cumulative effect of the change in accounting principles for severance
indemnities (107.5 billion) is divided evenly over a five-year period(21.5
billion per year) and included under extraordinary loss.
Projection for Fiscal Year Ending March 31, 2001
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Fiscal Year Ending March 31, 2001 Nine-Months Ended March 31, 2000
<S> <C> <C>
Operating Revenues 2,674.0 2,071.6
Operating Income (81.0) (27.8)
Recurring Profit (92.0) (43.0)
Net Income (72.0) (239.2)
</TABLE>
<PAGE>
Breakdown of Operating Revenues and Operating Expenses
(1) Operating Revenues
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Service Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Voice Transmission Services Revenues 957.3 505.2
Telephone Services Revenues* 742.5 427.4
Monthly Charge Revenues* 376.3 199.5
Call Rates Revenues* 273.1 170.7
Interconnection Call Revenues* 88.7 69.7
ISDN Services Revenues* 214.0 77.4
Data Transmission Services Revenues 1.6 0.3
Leased Circuit Services Revenues 144.9 75.1
High-Speed Digital Circuits Services Revenues* 51.0 28.4
Telegram Services Revenues 19.3 8.6
Other Telecommunications Services Revenues 85.1 39.2
Related Business Revenues 106.7 51.0
Sale of telecommunication equipment, System Integration
Service Revenue and Other* 86.6 43.9
Total 1,315.2 679.8
(Reference) Information Network Services Revenues 259.4 102.2
</TABLE>
* Listed again
(2)Operating Expenses
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Personnel 351.3 174.2
Cost of Supplies 588.3 316.1
Service Fees for Subcontractors 12.1 6.7
Depreciation 303.5 152.3
Retirement of Fixed Assets 43.2 24.6
Miscellaneous Taxes 48.7 19.2
Total 1,347.3 693.4
(Reference) Non-Operating Expenses 28.3 17.2
Financial Expenses* 15.4 9.4
</TABLE>
* Listed again
<PAGE>
Assets,Liabilities and Shareholders' Equity
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Sept. 30, 2000 March 31, 2000 Increase (Decrease) Percent Increase
(Decrease)
<S> <C> <C> <C> <C>
Fixed Assets 4,132.7 4,179.1 (46.3) (1.1)
Current Assets 815.7 933.3 (117.6) (12.6)
Total Assets 4,948.4 5,112.5 (164.0) (3.2)
Long-Term Liabilities 2,384.4 2,392.1 (7.7) (0.3)
Current Liabilities 713.0 838.2 (125.2) (14.9)
Total Liabilities 3,097.5 3,230.4 (132.9) (4.1)
Interest-Bearing Liabilities* 1,043.3 1,184.0 (140.7) (11.9)
Shareholders' Equity 1,850.9 1,882.0 (31.0) (1.7)
Total of Liabilities and Shareholders' Equity 4,948.4 5,112.5 (164.0) (3.2)
</TABLE>
* Listed again
Cash Flows
<TABLE>
<CAPTION>
(Unit: Billions of Yen)
Details Six-Months Ended Nine-Months Ended
Sept. 30, 2000 March 31, 2000
<S> <C> <C>
Cash Flows from Operating Actitvities 405.4 556.8
Cash Flows from Investing Actitvities (299.5) (382.2)
Cash Flows from Financing Actitvities (140.7) 26.1
Cash and Cash Equivalents at end of year 168.3 203.2
</TABLE>
Reference
1.Number of Subscriber Lines
<TABLE>
<CAPTION>
Details Sept. 30, 2000 Sept. 30, 1999 Increase (Decrease) Percent Increase
(Decrease)
<S> <C> <C> <C> <C>
Number of Telephone Subscriber Lines(1,000) 27,163 28,929 (1,766) (6.1)
Number of ISDN Subscriber Lines(1,000) 4,373 2,602 1,771 68.1
Number of Subscriber Lines 31,536 31,531 5 0.0
</TABLE>
Note: 1. "Number of Telephone Subscriber Lines" is the total of individual
lines and central station lines.
2. "Number of ISDN Subscriber Lines"(consisting of INS-Net 64,INS-Net
1500 and INS-Net 64 Light) is calculated in terms of INS-Net64.
2.Number of Employees
<TABLE>
<CAPTION>
(Unit: Employees)
Percent Increase
Details Sept. 30, 2000 Sept. 30, 1999 Increase (Decrease) (Decrease)
<S> <C> <C> <C> <C>
Number of Employees 63,850 67,200 (3,350) (5.0)
<CAPTION>
3.Capital Expenditures
(Unit: Billions of Yen)
Details Six-Months Ended Three-Months Ended
Sept. 30, 2000 Sept. 30, 1999
<S> <C> <C>
Capital Expenditures 268.8 141.2
</TABLE>
<PAGE>
November 17,2000
NTT Communications Corporation
NON-CONSOLIDATED STATEMENTS OF INCOME
(based on Japanese accounting principles)
Billions of Yen
---------------
<TABLE>
<CAPTION>
Six Months Ended Period Beginning May 28
Sept. 30, 2000 And Ended Sept. 30, 1999
-------------- ------------------------
<S> <C> <C>
Operating Revenues 664.8 357.6
Operating Expenses 638.9 324.2
Operating Income 25.8 33.3
Non-Operating Income (5.4) 0.8
Recurring Profit 20.4 34.2
Extraordinary Loss 9.0 -
Income before Taxes 11.3 34.2
Income Taxes 4.8 17.0
Net Income 6.5 17.1
</TABLE>
Note: Fractions are rounded down. The cumulative effect of the change in
accounting principles for liability for indemnities(\9 billion) is
indecated as a one-time expense at the beginning of the interim period.
PROJECTION FOR YEAR ENDING MARCH 31, 2001
(based on Japanese accounting principles)
Billions of Yen
---------------
<TABLE>
<CAPTION>
Fiscal Year Ending Period Beginning May 28
March 31, 2001 And Ended March 31, 2000
-------------- ------------------------
<S> <C> <C>
Operating Revenues 1415.0 1075.3
Operating Income 116.0 129.5
Recurring Profit 104.0 127.7
Net Income 55.0 72.8
</TABLE>
Note: Fractions are rounded down.
<PAGE>
BREAKDOWN OF OPERATING REVENUES AND OPERATING EXPENSES
(based on Japanese accounting principles)
<TABLE>
<CAPTION>
Billions of Yen
---------------
Six Months Ended Period Beginning May 28
Sept. 30, 2000 And Ended Sept.30, 1999
---------------- -----------------------
<S> <C> <C>
OPERATING REVENUES
Voice Transmission Services 390.3 225.8
Major Item:
Telephone Services Revenues 261.3 172.1
Data Transmission Services Revenues 120.4 52.1
Major Items:
Open Computer Network Services Revenues 32.2 10.9
Frame-Relay Services Revenues 29.5 11.2
Packet-Exchange Services Revenues 46.8 25.2
Leased-Circuit Services Revenues 115.1 62.7
Major Items:
Conventional Leased-Circuit Services Revenues 19.6 11.9
High-Speed Digital Circuits Services Revenues 51.1 24.4
Other Telecommunications Services Revenues 1.6 0.4
Related-Business Revenues 37.2 16.4
Total 664.8 357.6
OPERATING EXPENSES
Personnel 42.4 19.1
Cost of Supplies 241.1 103.5
Depreciation 58.8 31.9
Retirement of Fixed Assets 1.9 2.2
Communication Network Charges 288.4 163.8
Miscellaneous Taxes 6.0 3.5
Total 638.9 324.2
Reference:
Non-Operating Expenses 18.1 5.6
Major Item:
Financial Expenses 9.3 3.5
</TABLE>
Note: Fractions are rounded down.
<PAGE>
BALANCE SHEET
(based on Japanese accounting principles)
<TABLE>
<CAPTION>
Billions of Yen
---------------
Increase % Increase
Sept. 30, 2000 March. 31, 2000 (Decrease) (Decrease)
-------------- --------------- ---------- ----------
<S> <C> <C> <C> <C>
ASSETS
Fixed Assets 1544.6 963.2 581.4 60.4
Current Assets 458.3 457.6 0.6 0.1
Total Assets 2002.9 1420.8 582.0 41.0
LIABILITIES
Long-Term Liabilities 575.9 472.0 103.8 22.0
Current Liabilities 932.2 430.6 501.5 116.5
Total Liabilities 1508.2 902.7 605.4 67.1
Major Item:
Interest-Bearing Liabilities 1102.8 478.1 624.6 130.6
SHAREHOLDERS' EQUITY 494.7 518.1 (23.4) (4.5)
TOTAL OF LIABILITIES AND AND 2002.9 1420.8 582.0 41.0
SHAREHOLDERS' EQUITY
</TABLE>
Note: Fractions are rounded down.
CASH FLOWS
(based on Japanese accounting principles)
<TABLE>
<CAPTION>
Billions of Yen
---------------
Six Months Ended Nine Months Ended
Sept. 30, 2000 March.31, 2000
---------------- ------------------
<S> <C> <C>
Cash Flows from Operating Activities 120.6 180.4
Cash Flows from Investing Activities (748.0) (132.8)
Cash Flows from Financing Activities 563.4 63.6
Cash and Cash Equivalents at end of year 48.5 112.3
</TABLE>
Reference
1. Number of Employees
<TABLE>
<CAPTION>
Sept. 30, Sept. 30, Increase % Increase
2000 1999 (Decrease) (Decrease)
-------- -------- ---------- ----------
<S> <C> <C> <C> <C>
7,250 6,750 500 7.4
</TABLE>
2. Capital Expenditures
<TABLE>
<CAPTION>
Billions of Yen
---------------
Six Months Ended Period Beginning May 28
Sept. 30, 2000 And Ended Sept. 30, 1999
---------------- ------------------------
<S> <C> <C>
66.9 17.6
</TABLE>
