NTTYY Nippon Telegraph and Telephone Corporation (PK)

SIGNATURES

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.

Date: August 7, 2017

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[Translation]

Quarterly Securities Report

(The First Quarter of the 33 ^rd Business Term)

From April 1, 2017 to June 30, 2017

NIPPON TELEGRAPH AND TELEPHONE CORPORATION

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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, 2017, which NTT filed on August 7, 2017 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 on Form 20-F and other filings and submissions with the United States Securities and Exchange Commission.

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[Cover]

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2. Description of Business

The principal business segments of NTT Group (NTT and its affiliated companies) are its regional communications business, long distance and international communications business, mobile communications business, and data communications business.

There were no material changes in NTT Group’s (NTT and its affiliated companies) business during the three months ended June 30, 2017, nor were there any material changes in its subsidiaries and affiliated companies.

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Item 2. Business Overview

1. Risk Factors

There were no risks newly identified during the three months ended June 30, 2017. There was no material change in risk factors which were described in NTT’s Annual Securities Report for the fiscal year ended March 31, 2017.

2. Material Contracts

There were no material contracts relating to NTT’s operations that were agreed upon or entered into during the three months ended June 30, 2017.

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3. Analysis of Consolidated Financial Condition, Results of Operations, and Cash Flows

(1) Consolidated Results

During the three months ended June 30, 2017, pursuant to its Medium-Term Management Strategy, adopted in May 2015, entitled “Towards the Next Stage 2.0,” NTT implemented measures to embark on a profit growth track by accelerating its self-transformation as a “Value Partner.”

<Efforts to Expand NTT’s Global Business and Increase Profit Generation>

NTT Group seeks to establish and expand its global cloud service as a cornerstone of its business operations, and strengthened its efforts to accelerate overseas profit generation through the following initiatives.

Specifically, NTT Group promoted cross-selling through collaboration among its group companies, including businesses related to global networks, cloud migration, and IT outsourcing. In addition, in response to increased demand for data center services, NTT launched its Dallas TX1 Data Center in the United States, one of the largest data centers in the world, and in Europe launched the Germany Munich 2 Data Center.

Furthermore, each NTT Group Company has been engaged in strengthening and increasing the efficiency of its services and operations, and implementing cost reduction and profit generation measures through, among other things, reviewing its delivery systems.

<Efforts to Optimize Domestic Network Businesses and Enhance Profitability>

NTT Group works to enhance profitability by creating high value-added services as well as optimizing capital investments and reducing costs for its domestic network businesses, and works to improve the efficiency of its facility use and reduce procurement costs, in addition to simplifying and streamlining its network systems.

In the regional communications business segment, NTT promoted initiatives for its “Hikari Collaboration Model” and subscriptions for Hikari access services for the “Hikari Collaboration Model” reached 9.57 million. In the mobile communications business segment, NTT worked to continuously enhance profitability by promoting the expansion of its “Kake-hodai & Pake-aeru” billing plan, for which subscriptions reached over 38.0 million. For example, NTT began offering the “Simple Plan,” a new basic plan that offers lower rates than previous plans that allows free calls between family members, geared towards customers with low usage rates and who mainly only call family members, and also began offering the “docomo with,” a discount monthly plan for customers who purchase select handsets covered by the plan, geared towards customers who use one device for a long period of time.

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<Efforts to Achieve Sustainable Growth >

NTT Group will support the communications services field as a Gold Partner (Telecommunications Services) for the Olympic and Paralympic Games Tokyo 2020, and sees the initiative to bring about Society 5.0 (the creation of a new smart society that helps to resolve social issues), which is being promoted through public-private partnerships, as a great opportunity to utilize its collective strength.

NTT Group plans to make use of these opportunities to further accelerate migration to the B2B2X model and, together with businesses in other fields and local governments, strengthen measures aimed at creating services that will become the standards of the next generation.

Specifically, NTT entered into a “Top Partner Agreement” and an “Official Technology Partner Agreement” with the J. League, aiming for regional development mainly through collaborations with club soccer teams, and for the advancement of digital marketing through new viewing experiences. In addition, in collaboration with the National Federation of Livestock Agriculture Cooperative Associations and the Computer Associated Laboratory, Inc., NTT began demonstration experiments aimed to prevent accidental beef cattle deaths caused by falls via notifications to the cattle farmer on a smartphone or other device upon a beef cattle fall, utilizing Wi-Fi and analysis technology of image data.

As a result of these efforts, NTT Group’s consolidated operating revenues for the three-month period ended June 30, 2017 were ¥2,809.8 billion (an increase of 3.4% from the same period of the previous fiscal year), consolidated operating expenses were ¥2,318.2 billion (an increase of 4.0% from the same period of the previous fiscal year), consolidated operating income was ¥491.6 billion (an increase of 0.9% from the same period of the previous fiscal year), consolidated income before income taxes and equity in earnings (losses) of affiliated companies was ¥496.2 billion (an increase of 11.2% from the same period of the previous fiscal year), and net income attributable to NTT was ¥271.5 billion (an increase of 11.4% from the same period of the previous fiscal year).

(2) Segment Results

NTT Group has five business segments: regional communications business, long distance and international communications business, mobile communications business, data communications business and other business.

The regional communications business segment comprises fixed voice related services, IP/packet communications services, system integration services and other services.

The long distance and international communications business segment principally comprises fixed voice related services, IP/packet communications services, system integration services and other services.

The mobile communications business segment comprises mobile voice related services, IP/packet communications services and other services.

The data communications business segment comprises system integration services.

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The other business segment principally comprises real estate, finance, construction and power, systems development, and other services related to advanced research and development.

Results by business segment are as follows (intersegment revenues are included in the operating revenues, operating expenses and operating income of operational results for each business segment):

Operating revenues in the regional communications business segment for the three-month period ended June 30, 2017 decreased 1.9% from the same period of the previous fiscal year to ¥787.8 billion due to, among other things, a decrease in fixed voice related revenues. On the other hand, operating expenses for the three-month period ended June 30, 2017 decreased 3.1% from the same period of the previous fiscal year to ¥654.2 billion due to a decrease in depreciation costs, among other factors. As a result, segment operating income for the three-month period ended June 30, 2017 increased 4.6% from the same period of the previous fiscal year to ¥133.6 billion.

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Number of subscriptions

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Operating revenues in the long distance and international communications business segment for the three-month period ended June 30, 2017 increased 2.1% from the same period of the previous fiscal year to ¥529.7 billion. This increase was due to, among other things, an increase in system integration revenues due to increased revenues of data center services and an increase in IP/packet communications revenues due to the expansion of “OCN Hikari” and other services, partially offset by a decrease in fixed voice related revenues. On the other hand, operating expenses for the three-month period ended June 30, 2017 increased 0.6% from the same period of the previous fiscal year to ¥494.9 billion due to the increase in revenue-linked expenses, among other things. As a result, segment operating income for the three-month period ended June 30, 2017 increased 28.8% from the same period of the previous fiscal year to ¥34.8 billion.

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Despite a decline in revenues due to enhancing returns to customers and the decrease in sales of equipment, operating revenues for the mobile communications business segment for the three-month period ended June 30, 2017 increased 2.5% from the same period of the previous fiscal year to ¥1,136.7 billion due to an increase in IP/packet communications revenues resulting from the expansion of “Kake-hodai & Pake-aeru” and “docomo Hikari.” On the other hand, operating expenses for the three-month period ended June 30, 2017 increased 6.0% from the same period of the previous fiscal year to ¥859.1 billion due to an increase in revenue-linked expenses in the “docomo Hikari” area. As a result, segment operating income for the three-month period ended June 30, 2017 decreased 6.9% from the same period of the previous fiscal year to ¥277.6 billion.

Number of subscriptions

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Operating revenues in the data communications business segment for the three-month period ended June 30, 2017 increased 23.8% from the same period of the previous fiscal year to ¥462.3 billion due to, among other things, the increase in the number of consolidated subsidiaries resulting from the acquisition of the Dell Services Division and the expansion of NTT’s domestic businesses. On the other hand, operating expenses for the three-month period ended June 30, 2017 increased 24.3% from the same period of the previous fiscal year to ¥437.0 billion due to, among other things, the impact from the increase in consolidated subsidiaries and an increase in revenue-linked expenses. As a result, segment operating income for the three-month period ended June 30, 2017 increased 15.6% from the same period of the previous fiscal year to ¥25.3 billion.

Operating revenues in the other business segment for the three-month period ended June 30, 2017 increased 3.4% from the same period of the previous fiscal year to ¥281.4 billion due to an increase in revenues of NTT Group’s real estate business, among other things. On the other hand, operating expenses for the three-month period ended June 30, 2017 increased 1.0% from the same period of the previous fiscal year to ¥262.3 billion due to, among other things, an increase in revenue-linked expenses in NTT Group’s real estate business. As a result, segment operating income for the three-month period ended June 30, 2017 increased 54.5% from the same period of the previous fiscal year to ¥19.0 billion.

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(3) Cash Flows

Net cash provided by operating activities for the three-month period ended June 30, 2017 decreased by ¥7.3 billion (1.4%) from the same period of the previous fiscal year to ¥531.8 billion. This decrease was due to, among other factors, a decrease in collection of accounts receivable, partially offset by a decrease in payments for accounts payable.

Net cash used in investing activities increased by ¥112.0 billion (23.3%) from the same period of the previous fiscal year to ¥593.7 billion. This increase was due to, among other factors, an increase in payments for capital investments.

Net cash provided by financing activities increased by ¥363.2 billion (140.5%) from the same period of the previous fiscal year to ¥104.6 billion. This increase was due to, among other factors, a decrease in stock repurchases by NTT and a decrease in stock repurchases by NTT’s subsidiaries.

As a result of the above, NTT Group’s consolidated cash and cash equivalents as of June 30, 2017 totaled ¥961.3 billion, an increase of ¥36.1 billion (3.9%) from the end of the previous fiscal year.

(4) Operational and Finance Issues Facing the Corporate Group

There were no material changes in the operational and finance issues facing the corporate group for the three months ended June 30, 2017, and no new additional issues arose during the period.

(5) Research and Development

NTT’s research and development expenses for the three months ended June 30, 2017 were ¥46.9 billion. There were no material changes in NTT’s research and development activities during the three months ended June 30, 2017.

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Item 3. Information on NTT

1. Information on NTT’s Shares

(1) Total Number of Shares

(2) Information on Share Acquisition Rights

Not applicable.

(3) Information on Moving Strike Convertible Bonds

Not applicable.

(4) Information on Shareholder Rights Plans

Not applicable.

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(5) Changes in the Total Number of Issued Shares, the Amount of Common Stock, and Other

(6) Major Shareholders

Not applicable for the three months ended June 30, 2017.

(7) Information on Voting Rights

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2. Changes in Directors and Senior Management

    Not applicable.

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Item 4. Financial Information

Preparation Method of Quarterly Consolidated Financial Statements

The quarterly consolidated financial statements of NTT have been prepared in accordance with accounting terminology, forms and preparation methods required in order to issue American Depositary Shares, and in accordance with U.S. generally accepted accounting principles, pursuant to Article 95 of “Ordinance on the Terminology, Forms, and Preparation Methods of Quarterly Consolidated Financial Statements” (Cabinet Office Ordinance No. 64, 2007).

Figures in NTT’s quarterly consolidated financial statements have been rounded to the nearest million yen.

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The accompanying notes are an integral part of these financial statements.

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