Financials

NTT: FYE Mar 2026 and ten years of results (40 metrics)

FYE Mar 2026 · Revenue¥14.4tnYoY +5.1%

FYE Mar 2026 · Operating profit¥1.71tnYoY +3.4%

FYE Mar 2026 · Net profit¥1.04tnYoY +3.7%

FYE Mar 2026 · Equity ratio19.8%YoY −10.5pp

FYE Mar 2026 · Group employees344,196YoY +2,875

Fiscal year	Revenue	YoY	Operating profit	YoY	Margin	Net profit	Chief executive	That year
FYE Mar 2017Consolidated	¥11.4tn	n/a	¥1.54tn	n/a	13.5%	¥800bn	Unoura Hiroo	—
FYE Mar 2018Consolidated	¥11.8tn	+3.4%	¥1.64tn	+6.6%	13.9%	¥898bn	Unoura Hiroo	—
FYE Mar 2019Consolidated	¥11.9tn	+0.8%	¥1.69tn	+3.2%	14.3%	¥855bn	Unoura Hiroo	<a class="en-history_person" href="/tse/9432/executives/ceo/sawada-jun/" hreflang="ja">Sawada Jun</a> becomes president
FYE Mar 2020Consolidated	¥11.9tn	+0.2%	¥1.56tn	−7.8%	13.1%	¥855bn	Sawada Jun	The IOWN next-generation communications platform is announced
FYE Mar 2021Consolidated	¥11.9tn	+0.4%	¥1.67tn	+7.0%	14.0%	¥916bn	Sawada Jun	Tender offer announced for NTT DoCoMo at ¥3,900 a share
FYE Mar 2022Consolidated	¥12.2tn	+1.8%	¥1.77tn	+5.8%	14.5%	¥1.18tn	Sawada Jun	—
FYE Mar 2023Consolidated	¥13.1tn	+8.1%	¥1.83tn	+3.4%	13.9%	¥1.21tn	Sawada Jun	NTT Communications and NTT Comware moved under NTT DoCoMo
FYE Mar 2024Consolidated	¥13.4tn	+1.8%	¥1.92tn	+5.1%	14.4%	¥1.28tn	Shimada Akira	The review of the NTT Act begins
FYE Mar 2025Consolidated	¥13.7tn	+2.5%	¥1.65tn	−14.2%	12.0%	¥1.00tn	Shimada Akira	The amended NTT Act abolishes the duty to disclose research results
FYE Mar 2026Consolidated	¥14.4tn	+5.1%	¥1.71tn	+3.4%	11.8%	¥1.04tn	Shimada Akira	Tender offer announced for NTT Data Group at ¥4,000 a share

How it compares

NTT¥14.4tnFY2025Operating margin 11.8%

SoftBank Corp.¥7.04tnFY2025Operating margin 14.8%KDDI¥6.07tnFY2025Operating margin 18.1%NTT DOCOMODelisted 2020

DDI CORPORATIONDissolved 2000

KDD CorporationDelisted 2000

SKY Perfect JSAT¥128bnFY2025Operating margin 27.6%

OKINAWA CELLULAR TELEPHONE COMPANY¥86bnFY2025Operating margin 21.6%

Income statement Revenue, costs, each level of profit and the margins they leave

Where the revenue goes

¥ bn

Other operating costs Operating profit

Margins

Operating margin Net margin

Revenue net sales, operating revenue

FYE Mar 2026 ¥14.4tn

CAGR · 10 yrs +2.6%

Fiscal year	Revenue ¥ bn	YoY	Basis
FYE Mar 2017	11,391	n/a	Cons. · US GAAP
FYE Mar 2018	11,782	+3.4%	Cons. · US GAAP
FYE Mar 2019	11,880	moved to IFRS	Cons. · IFRS
FYE Mar 2020	11,899	+0.2%	Cons. · IFRS
FYE Mar 2021	11,944	+0.4%	Cons. · IFRS
FYE Mar 2022	12,156	+1.8%	Cons. · IFRS
FYE Mar 2023	13,136	+8.1%	Cons. · IFRS
FYE Mar 2024	13,375	+1.8%	Cons. · IFRS
FYE Mar 2025	13,705	+2.5%	Cons. · IFRS
FYE Mar 2026	14,409	+5.1%	Cons. · IFRS

Definition: Everything the company took in from its own business
Formula: Revenue line of the income statement
Source: Securities report (XBRL)

Operating profit

FYE Mar 2026 ¥1.71tn

CAGR · 10 yrs +1.1%

Fiscal year	Operating profit ¥ bn	YoY	Basis
FYE Mar 2017	1,540	n/a	Cons. · US GAAP
FYE Mar 2018	1,641	+6.6%	Cons. · US GAAP
FYE Mar 2019	1,694	moved to IFRS	Cons. · IFRS
FYE Mar 2020	1,562	−7.8%	Cons. · IFRS
FYE Mar 2021	1,671	+7.0%	Cons. · IFRS
FYE Mar 2022	1,769	+5.8%	Cons. · IFRS
FYE Mar 2023	1,829	+3.4%	Cons. · IFRS
FYE Mar 2024	1,923	+5.1%	Cons. · IFRS
FYE Mar 2025	1,650	−14.2%	Cons. · IFRS
FYE Mar 2026	1,706	+3.4%	Cons. · IFRS

Definition: What the core business earns
Formula: Gross profit − SG&A
Source: Securities report (XBRL)

Non-operating income

FYE Mar 2026 ¥75bn

CAGR · 9 yrs +6.8%

Fiscal year	Non-operating income ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	44.0	n/a	Cons. · US GAAP
FYE Mar 2019	24.5	moved to IFRS	Cons. · IFRS
FYE Mar 2020	47.0	+92.1%	Cons. · IFRS
FYE Mar 2021	31.8	−32.4%	Cons. · IFRS
FYE Mar 2022	63.5	+99.7%	Cons. · IFRS
FYE Mar 2023	54.1	−14.8%	Cons. · IFRS
FYE Mar 2024	164	+202.8%	Cons. · IFRS
FYE Mar 2025	59.2	−63.9%	Cons. · IFRS
FYE Mar 2026	74.5	+26.0%	Cons. · IFRS

Definition: Income from outside the core business
Formula: Non-operating income line of the income statement
Source: Securities report (XBRL)

Non-operating expenses

FYE Mar 2026 ¥240bn

CAGR · 9 yrs +12.0%

Fiscal year	Non-operating expenses ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	97.2	n/a	Cons. · US GAAP
FYE Mar 2019	36.4	moved to IFRS	Cons. · IFRS
FYE Mar 2020	50.3	+38.2%	Cons. · IFRS
FYE Mar 2021	50.8	+1.1%	Cons. · IFRS
FYE Mar 2022	56.3	+10.7%	Cons. · IFRS
FYE Mar 2023	79.4	+41.2%	Cons. · IFRS
FYE Mar 2024	130	+64.3%	Cons. · IFRS
FYE Mar 2025	170	+29.9%	Cons. · IFRS
FYE Mar 2026	240	+41.6%	Cons. · IFRS

Definition: Costs arising outside the core business
Formula: Non-operating expenses line of the income statement
Source: Securities report (XBRL)

Net profit profit attributable to owners of the parent

FYE Mar 2026 ¥1.04tn

CAGR · 10 yrs +2.9%

Fiscal year	Net profit ¥ bn	YoY	Basis
FYE Mar 2017	800	n/a	Cons. · US GAAP
FYE Mar 2018	898	+12.2%	Cons. · US GAAP
FYE Mar 2019	855	moved to IFRS	Cons. · IFRS
FYE Mar 2020	855	+0.1%	Cons. · IFRS
FYE Mar 2021	916	+7.1%	Cons. · IFRS
FYE Mar 2022	1,181	+28.9%	Cons. · IFRS
FYE Mar 2023	1,213	+2.7%	Cons. · IFRS
FYE Mar 2024	1,280	+5.5%	Cons. · IFRS
FYE Mar 2025	1,000	−21.8%	Cons. · IFRS
FYE Mar 2026	1,037	+3.7%	Cons. · IFRS

Definition: What is left after tax
Formula: Pre-tax profit − income taxes
Source: Securities report (XBRL)

Operating margin

FYE Mar 2026 11.8%

Average · 10 yrs 13.6%

Fiscal year	Operating margin %	YoY	Basis
FYE Mar 2017	13.5	n/a	Cons. · US GAAP
FYE Mar 2018	13.9	+0.4pp	Cons. · US GAAP
FYE Mar 2019	14.3	moved to IFRS	Cons. · IFRS
FYE Mar 2020	13.1	−1.1pp	Cons. · IFRS
FYE Mar 2021	14.0	+0.9pp	Cons. · IFRS
FYE Mar 2022	14.5	+0.6pp	Cons. · IFRS
FYE Mar 2023	13.9	−0.6pp	Cons. · IFRS
FYE Mar 2024	14.4	+0.5pp	Cons. · IFRS
FYE Mar 2025	12.0	−2.3pp	Cons. · IFRS
FYE Mar 2026	11.8	−0.2pp	Cons. · IFRS

Definition: The share of revenue the core business keeps
Formula: Operating profit ÷ revenue
Source: Securities report (XBRL)

Net margin

FYE Mar 2026 7.2%

Average · 10 yrs 8.0%

Fiscal year	Net margin %	YoY	Basis
FYE Mar 2017	7.0	n/a	Cons. · US GAAP
FYE Mar 2018	7.6	+0.6pp	Cons. · US GAAP
FYE Mar 2019	7.2	moved to IFRS	Cons. · IFRS
FYE Mar 2020	7.2	−0.0pp	Cons. · IFRS
FYE Mar 2021	7.7	+0.5pp	Cons. · IFRS
FYE Mar 2022	9.7	+2.0pp	Cons. · IFRS
FYE Mar 2023	9.2	−0.5pp	Cons. · IFRS
FYE Mar 2024	9.6	+0.3pp	Cons. · IFRS
FYE Mar 2025	7.3	−2.3pp	Cons. · IFRS
FYE Mar 2026	7.2	−0.1pp	Cons. · IFRS

Definition: The share of revenue left after everything
Formula: Net profit ÷ revenue
Source: Securities report (XBRL)

Balance sheet Assets, debt and equity, and what they say about financial strength

What the balance sheet is made of

¥ bn

Equity Liabilities and non-controlling interests

Financial strength

Equity ratio Debt-to-equity

Total assets

FYE Mar 2026 ¥46.7tn

CAGR · 10 yrs +9.2%

Fiscal year	Total assets ¥ bn	YoY	Basis
FYE Mar 2017	21,224	n/a	Cons. · US GAAP
FYE Mar 2018	21,541	+1.5%	Cons. · US GAAP
FYE Mar 2019	22,295	moved to IFRS	Cons. · IFRS
FYE Mar 2020	23,014	+3.2%	Cons. · IFRS
FYE Mar 2021	22,965	−0.2%	Cons. · IFRS
FYE Mar 2022	23,862	+3.9%	Cons. · IFRS
FYE Mar 2023	25,309	+6.1%	Cons. · IFRS
FYE Mar 2024	29,604	+17.0%	Cons. · IFRS
FYE Mar 2025	30,062	+1.5%	Cons. · IFRS
FYE Mar 2026	46,721	+55.4%	Cons. · IFRS

Definition: Everything the company holds
Formula: Total assets line of the balance sheet
Source: Securities report (XBRL)

Equity net assets, shareholders' equity

FYE Mar 2026 ¥9.24tn

CAGR · 10 yrs +0.8%

Fiscal year	Equity ¥ bn	YoY	Basis
FYE Mar 2017	8,621	n/a	Cons. · US GAAP
FYE Mar 2018	6,535	−24.2%	Cons. · US GAAP
FYE Mar 2019	6,725	moved to IFRS	Cons. · IFRS
FYE Mar 2020	6,660	−1.0%	Cons. · IFRS
FYE Mar 2021	6,922	+3.9%	Cons. · IFRS
FYE Mar 2022	7,547	+9.0%	Cons. · IFRS
FYE Mar 2023	7,772	+3.0%	Cons. · IFRS
FYE Mar 2024	8,795	+13.2%	Cons. · IFRS
FYE Mar 2025	9,099	+3.4%	Cons. · IFRS
FYE Mar 2026	9,238	+1.5%	Cons. · IFRS

Definition: The part of the funding that never has to be repaid
Formula: Net assets line of the balance sheet
Source: Securities report (XBRL)

Interest-bearing debt

FYE Mar 2026 ¥4.40tn

CAGR · 9 yrs +20.1%

Fiscal year	Interest-bearing debt ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	1,018	n/a	Cons. · US GAAP
FYE Mar 2019	1,398	moved to IFRS	Cons. · IFRS
FYE Mar 2020	2,055	+47.0%	Cons. · IFRS
FYE Mar 2021	3,169	+54.2%	Cons. · IFRS
FYE Mar 2022	1,647	−48.0%	Cons. · IFRS
FYE Mar 2023	1,840	+11.8%	Cons. · IFRS
FYE Mar 2024	2,543	+38.2%	Cons. · IFRS
FYE Mar 2025	2,823	+11.0%	Cons. · IFRS
FYE Mar 2026	4,396	+55.7%	Cons. · IFRS

Definition: Borrowings the company pays interest on
Formula: Loans + bonds + lease obligations
Source: Securities report (XBRL)

Short-term borrowings

FYE Mar 2026 ¥4.40tn

CAGR · 8 yrs +17.8%

Fiscal year	Short-term borrowings ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	n/a	n/a	Cons. · US GAAP
FYE Mar 2019	1,398	moved to IFRS	Cons. · IFRS
FYE Mar 2020	2,055	+47.0%	Cons. · IFRS
FYE Mar 2021	3,169	+54.2%	Cons. · IFRS
FYE Mar 2022	1,647	−48.0%	Cons. · IFRS
FYE Mar 2023	1,840	+11.8%	Cons. · IFRS
FYE Mar 2024	2,543	+38.2%	Cons. · IFRS
FYE Mar 2025	2,823	+11.0%	Cons. · IFRS
FYE Mar 2026	4,396	+55.7%	Cons. · IFRS

Definition: Borrowings repayable within a year
Formula: Short-term borrowings line of the balance sheet
Source: Securities report (XBRL)

Intangible assets

FYE Mar 2026 ¥2.87tn

CAGR · 9 yrs +7.7%

Fiscal year	Intangible assets ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	1,589	n/a	Cons. · US GAAP
FYE Mar 2019	1,628	moved to IFRS	Cons. · IFRS
FYE Mar 2020	1,694	+4.1%	Cons. · IFRS
FYE Mar 2021	1,766	+4.2%	Cons. · IFRS
FYE Mar 2022	1,952	+10.5%	Cons. · IFRS
FYE Mar 2023	2,123	+8.8%	Cons. · IFRS
FYE Mar 2024	2,511	+18.3%	Cons. · IFRS
FYE Mar 2025	2,483	−1.1%	Cons. · IFRS
FYE Mar 2026	2,873	+15.7%	Cons. · IFRS

Definition: Assets with no physical form
Formula: Intangible assets line of the balance sheet
Source: Securities report (XBRL)

Goodwill

FYE Mar 2026 ¥2.08tn

CAGR · 9 yrs +12.0%

Fiscal year	Goodwill ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	841	n/a	Cons. · US GAAP
FYE Mar 2019	887	moved to IFRS	Cons. · IFRS
FYE Mar 2020	981	+10.6%	Cons. · IFRS
FYE Mar 2021	1,056	+7.7%	Cons. · IFRS
FYE Mar 2022	1,213	+14.8%	Cons. · IFRS
FYE Mar 2023	1,283	+5.8%	Cons. · IFRS
FYE Mar 2024	1,699	+32.4%	Cons. · IFRS
FYE Mar 2025	1,719	+1.2%	Cons. · IFRS
FYE Mar 2026	2,080	+21.0%	Cons. · IFRS

Definition: What an acquisition cost above the net assets it brought
Formula: Goodwill line of the balance sheet
Source: Securities report (XBRL)

Equity ratio

FYE Mar 2026 19.8%

Average · 10 yrs 30.2%

Fiscal year	Equity ratio %	YoY	Basis
FYE Mar 2017	40.6	n/a	Cons. · US GAAP
FYE Mar 2018	30.3	−10.3pp	Cons. · US GAAP
FYE Mar 2019	30.2	moved to IFRS	Cons. · IFRS
FYE Mar 2020	28.9	−1.2pp	Cons. · IFRS
FYE Mar 2021	30.1	+1.2pp	Cons. · IFRS
FYE Mar 2022	31.6	+1.5pp	Cons. · IFRS
FYE Mar 2023	30.7	−0.9pp	Cons. · IFRS
FYE Mar 2024	29.7	−1.0pp	Cons. · IFRS
FYE Mar 2025	30.3	+0.6pp	Cons. · IFRS
FYE Mar 2026	19.8	−10.5pp	Cons. · IFRS

Definition: How much of the balance sheet is funded without debt
Formula: Equity ÷ total assets
Source: Securities report (XBRL)

Debt-to-equity ratio D/E ratio

FYE Mar 2026 47.6%

Average · 9 yrs 29.6%

Fiscal year	Debt-to-equity ratio %	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	15.6	n/a	Cons. · US GAAP
FYE Mar 2019	20.8	moved to IFRS	Cons. · IFRS
FYE Mar 2020	30.9	+10.1pp	Cons. · IFRS
FYE Mar 2021	45.8	+14.9pp	Cons. · IFRS
FYE Mar 2022	21.8	−24.0pp	Cons. · IFRS
FYE Mar 2023	23.7	+1.9pp	Cons. · IFRS
FYE Mar 2024	28.9	+5.2pp	Cons. · IFRS
FYE Mar 2025	31.0	+2.1pp	Cons. · IFRS
FYE Mar 2026	47.6	+16.6pp	Cons. · IFRS

Definition: Borrowings measured against the company's own capital
Formula: Interest-bearing debt ÷ equity
Source: Securities report (XBRL)

ROE return on equity

FYE Mar 2026 11.2%

Average · 10 yrs 13.0%

Fiscal year	ROE %	YoY	Basis
FYE Mar 2017	9.3	n/a	Cons. · US GAAP
FYE Mar 2018	13.7	+4.5pp	Cons. · US GAAP
FYE Mar 2019	12.7	moved to IFRS	Cons. · IFRS
FYE Mar 2020	12.8	+0.1pp	Cons. · IFRS
FYE Mar 2021	13.2	+0.4pp	Cons. · IFRS
FYE Mar 2022	15.7	+2.4pp	Cons. · IFRS
FYE Mar 2023	15.6	−0.0pp	Cons. · IFRS
FYE Mar 2024	14.5	−1.1pp	Cons. · IFRS
FYE Mar 2025	11.0	−3.6pp	Cons. · IFRS
FYE Mar 2026	11.2	+0.2pp	Cons. · IFRS

Definition: What the shareholders' capital earns
Formula: Net profit ÷ equity
Source: Securities report (XBRL)

ROA return on assets

FYE Mar 2026 2.2%

Average · 10 yrs 3.9%

Fiscal year	ROA %	YoY	Basis
FYE Mar 2017	3.8	n/a	Cons. · US GAAP
FYE Mar 2018	4.2	+0.4pp	Cons. · US GAAP
FYE Mar 2019	3.8	moved to IFRS	Cons. · IFRS
FYE Mar 2020	3.7	−0.1pp	Cons. · IFRS
FYE Mar 2021	4.0	+0.3pp	Cons. · IFRS
FYE Mar 2022	4.9	+1.0pp	Cons. · IFRS
FYE Mar 2023	4.8	−0.2pp	Cons. · IFRS
FYE Mar 2024	4.3	−0.5pp	Cons. · IFRS
FYE Mar 2025	3.3	−1.0pp	Cons. · IFRS
FYE Mar 2026	2.2	−1.1pp	Cons. · IFRS

Definition: What the whole balance sheet earns
Formula: Net profit ÷ total assets
Source: Securities report (XBRL)

Asset turnover

FYE Mar 2026 0.31×

CAGR · 10 yrs −6.0%

Fiscal year	Asset turnover ×	YoY	Basis
FYE Mar 2017	0.54	n/a	Cons. · US GAAP
FYE Mar 2018	0.55	+1.9%	Cons. · US GAAP
FYE Mar 2019	0.53	moved to IFRS	Cons. · IFRS
FYE Mar 2020	0.52	−3.0%	Cons. · IFRS
FYE Mar 2021	0.52	+0.6%	Cons. · IFRS
FYE Mar 2022	0.51	−2.0%	Cons. · IFRS
FYE Mar 2023	0.52	+1.9%	Cons. · IFRS
FYE Mar 2024	0.45	−13.0%	Cons. · IFRS
FYE Mar 2025	0.46	+0.9%	Cons. · IFRS
FYE Mar 2026	0.31	−32.3%	Cons. · IFRS

Definition: How much revenue each yen of assets produces
Formula: Revenue ÷ total assets
Source: Securities report (XBRL)

Cash flow statement Cash from operations, investment and financing, and what is left on hand

The three cash flows

¥ bn

Operating CF Investing CF Financing CF

Cash against debt

¥ bn

Cash and equivalents Interest-bearing debt Net cash

Operating cash flow

FYE Mar 2026 ¥1.49tn

CAGR · 10 yrs −7.2%

Fiscal year	Operating cash flow ¥ bn	YoY	Basis
FYE Mar 2017	2,917	n/a	Cons. · US GAAP
FYE Mar 2018	2,541	−12.9%	Cons. · US GAAP
FYE Mar 2019	2,406	moved to IFRS	Cons. · IFRS
FYE Mar 2020	2,995	+24.5%	Cons. · IFRS
FYE Mar 2021	3,009	+0.5%	Cons. · IFRS
FYE Mar 2022	3,010	−0.0%	Cons. · IFRS
FYE Mar 2023	2,261	−24.9%	Cons. · IFRS
FYE Mar 2024	2,374	+5.0%	Cons. · IFRS
FYE Mar 2025	2,364	−0.4%	Cons. · IFRS
FYE Mar 2026	1,485	−37.2%	Cons. · IFRS

Definition: Cash the business itself generated
Formula: Cash flow from operating activities
Source: Securities report (XBRL)

Investing cash flow

FYE Mar 2026 -¥1.02tn

Average · 10 yrs -¥1.73tn

Fiscal year	Investing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-2,089	n/a	Cons. · US GAAP
FYE Mar 2018	-1,746	n/a	Cons. · US GAAP
FYE Mar 2019	-1,774	moved to IFRS	Cons. · IFRS
FYE Mar 2020	-1,853	n/a	Cons. · IFRS
FYE Mar 2021	-1,425	n/a	Cons. · IFRS
FYE Mar 2022	-1,699	n/a	Cons. · IFRS
FYE Mar 2023	-1,737	n/a	Cons. · IFRS
FYE Mar 2024	-1,989	n/a	Cons. · IFRS
FYE Mar 2025	-2,000	n/a	Cons. · IFRS
FYE Mar 2026	-1,023	n/a	Cons. · IFRS

Definition: Cash spent on, or released by, investment
Formula: Cash flow from investing activities
Source: Securities report (XBRL)

Financing cash flow

FYE Mar 2026 ¥441bn

Average · 10 yrs -¥743bn

Fiscal year	Financing cash flow ¥ bn	YoY	Basis
FYE Mar 2017	-982	n/a	Cons. · US GAAP
FYE Mar 2018	-968	n/a	Cons. · US GAAP
FYE Mar 2019	-584	moved to IFRS	Cons. · IFRS
FYE Mar 2020	-1,041	n/a	Cons. · IFRS
FYE Mar 2021	-1,690	n/a	Cons. · IFRS
FYE Mar 2022	-1,438	n/a	Cons. · IFRS
FYE Mar 2023	-590	n/a	Cons. · IFRS
FYE Mar 2024	-234	n/a	Cons. · IFRS
FYE Mar 2025	-343	n/a	Cons. · IFRS
FYE Mar 2026	441	n/a	Cons. · IFRS

Definition: Cash raised from, or returned to, lenders and shareholders
Formula: Cash flow from financing activities
Source: Securities report (XBRL)

Cash and equivalents

FYE Mar 2026 ¥1.92tn

CAGR · 10 yrs +6.7%

Fiscal year	Cash and equivalents ¥ bn	YoY	Basis
FYE Mar 2017	1,076	n/a	Cons. · US GAAP
FYE Mar 2018	895	−16.8%	Cons. · US GAAP
FYE Mar 2019	946	moved to IFRS	Cons. · IFRS
FYE Mar 2020	1,034	+9.2%	Cons. · IFRS
FYE Mar 2021	936	−9.5%	Cons. · IFRS
FYE Mar 2022	835	−10.8%	Cons. · IFRS
FYE Mar 2023	794	−4.9%	Cons. · IFRS
FYE Mar 2024	983	+23.8%	Cons. · IFRS
FYE Mar 2025	1,001	+1.8%	Cons. · IFRS
FYE Mar 2026	1,922	+92.0%	Cons. · IFRS

Definition: Cash on hand at the year end
Formula: Closing balance in the cash flow statement
Source: Securities report (XBRL)

Free cash flow

FYE Mar 2026 ¥462bn

CAGR · 10 yrs −6.3%

Fiscal year	FCF ¥ bn	YoY	Basis
FYE Mar 2017	828	n/a	Cons. · US GAAP
FYE Mar 2018	795	−4.0%	Cons. · US GAAP
FYE Mar 2019	632	moved to IFRS	Cons. · IFRS
FYE Mar 2020	1,142	+80.8%	Cons. · IFRS
FYE Mar 2021	1,585	+38.7%	Cons. · IFRS
FYE Mar 2022	1,311	−17.3%	Cons. · IFRS
FYE Mar 2023	524	−60.0%	Cons. · IFRS
FYE Mar 2024	385	−26.6%	Cons. · IFRS
FYE Mar 2025	364	−5.3%	Cons. · IFRS
FYE Mar 2026	462	+26.7%	Cons. · IFRS

Definition: What is left once the business has paid for its own investment
Formula: Operating cash flow + investing cash flow
Source: Securities report (XBRL)

Operating cash flow margin

FYE Mar 2026 10.3%

Average · 10 yrs 20.5%

Fiscal year	OCF margin %	YoY	Basis
FYE Mar 2017	25.6	n/a	Cons. · US GAAP
FYE Mar 2018	21.6	−4.0pp	Cons. · US GAAP
FYE Mar 2019	20.3	moved to IFRS	Cons. · IFRS
FYE Mar 2020	25.2	+4.9pp	Cons. · IFRS
FYE Mar 2021	25.2	−0.0pp	Cons. · IFRS
FYE Mar 2022	24.8	−0.4pp	Cons. · IFRS
FYE Mar 2023	17.2	−7.6pp	Cons. · IFRS
FYE Mar 2024	17.8	+0.5pp	Cons. · IFRS
FYE Mar 2025	17.2	−0.5pp	Cons. · IFRS
FYE Mar 2026	10.3	−6.9pp	Cons. · IFRS

Definition: How much of the revenue turned into cash
Formula: Operating cash flow ÷ revenue
Source: Securities report (XBRL)

Net cash

FYE Mar 2026 -¥2.47tn

Average · 9 yrs -¥1.28tn

Fiscal year	Net cash ¥ bn	YoY	Basis
FYE Mar 2017	n/a	n/a	Cons. · US GAAP
FYE Mar 2018	-123	n/a	Cons. · US GAAP
FYE Mar 2019	-451	moved to IFRS	Cons. · IFRS
FYE Mar 2020	-1,021	n/a	Cons. · IFRS
FYE Mar 2021	-2,233	n/a	Cons. · IFRS
FYE Mar 2022	-812	n/a	Cons. · IFRS
FYE Mar 2023	-1,046	n/a	Cons. · IFRS
FYE Mar 2024	-1,560	n/a	Cons. · IFRS
FYE Mar 2025	-1,822	n/a	Cons. · IFRS
FYE Mar 2026	-2,474	n/a	Cons. · IFRS

Definition: Cash on hand once the borrowings are paid off
Formula: Cash and equivalents − interest-bearing debt
Source: Securities report (XBRL)

Shares and share price Shares outstanding, price, market capitalisation and the valuation multiples

Market capitalisation

FYE Mar 2026 ¥14.3tn

Change · 10 yrs +¥4.27tn

Fiscal year	Market capitalisation ¥ bn	Basis
FYE Mar 2017	9,999	n/a
FYE Mar 2018	10,280	n/a
FYE Mar 2019	9,188	n/a
FYE Mar 2020	10,013	n/a
FYE Mar 2021	11,136	n/a
FYE Mar 2022	12,880	n/a
FYE Mar 2023	14,369	n/a
FYE Mar 2024	16,260	n/a
FYE Mar 2025	13,104	n/a
FYE Mar 2026	14,273	n/a

Definition: What the market says the company is worth
Formula: Year-end share price × shares outstanding
Source: Securities report (XBRL)

Share price year-end close

FYE Mar 2026 158¥

Change · 10 yrs −4,612¥

Fiscal year	Share price ¥	Basis
FYE Mar 2017	4,769	n/a
FYE Mar 2018	4,903	n/a
FYE Mar 2019	4,711	n/a
FYE Mar 2020	2,567	n/a
FYE Mar 2021	2,855	n/a
FYE Mar 2022	3,556	n/a
FYE Mar 2023	3,967	n/a
FYE Mar 2024	180	n/a
FYE Mar 2025	145	n/a
FYE Mar 2026	158	n/a

Definition: The closing price on the last day of the fiscal year
Formula: Year-end closing price
Source: Securities report (XBRL)

Shares outstanding

FYE Mar 2026 90,550,316,400shares

Change · 10 yrs +88,453,921,930 shares

Fiscal year	Shares outstanding shares	Basis
FYE Mar 2017	2,096,394,470	Parent
FYE Mar 2018	2,096,394,470	Parent
FYE Mar 2019	1,950,394,470	Parent
FYE Mar 2020	3,900,788,940	Parent
FYE Mar 2021	3,900,788,940	Parent
FYE Mar 2022	3,622,012,656	Parent
FYE Mar 2023	3,622,012,656	Parent
FYE Mar 2024	90,550,316,400	Parent
FYE Mar 2025	90,550,316,400	Parent
FYE Mar 2026	90,550,316,400	Parent

Definition: How many shares exist
Formula: Shares issued, from the key figures of the filing
Source: Securities report (XBRL)

EPS earnings per share

FYE Mar 2026 12.61¥

Change · 10 yrs −182.86¥

Fiscal year	EPS ¥	Basis
FYE Mar 2017	195.47	Cons.
FYE Mar 2018	224.93	Cons.
FYE Mar 2019	220.13	Cons.
FYE Mar 2020	9.25	Cons.
FYE Mar 2021	9.93	Cons.
FYE Mar 2022	13.17	Cons.
FYE Mar 2023	13.92	Cons.
FYE Mar 2024	15.09	Cons.
FYE Mar 2025	11.96	Cons.
FYE Mar 2026	12.61	Cons.

Definition: Net profit for each share
Formula: Net profit ÷ average shares outstanding
Source: Securities report (XBRL)

BPS book value per share

FYE Mar 2026 102.02¥

Change · 10 yrs −4,010.28¥

Fiscal year	BPS ¥	Basis
FYE Mar 2017	4,112.30	Cons. · US GAAP
FYE Mar 2018	3,117.29	Cons. · US GAAP
FYE Mar 2019	3,448.04	Cons. · IFRS
FYE Mar 2020	1,707.24	Cons. · IFRS
FYE Mar 2021	1,774.61	Cons. · IFRS
FYE Mar 2022	2,083.59	Cons. · IFRS
FYE Mar 2023	2,145.79	Cons. · IFRS
FYE Mar 2024	97.13	Cons. · IFRS
FYE Mar 2025	100.48	Cons. · IFRS
FYE Mar 2026	102.02	Cons. · IFRS

Definition: Equity behind each share
Formula: Equity ÷ shares outstanding
Source: Securities report (XBRL)

PER price-to-earnings ratio

FYE Mar 2026 12.50×

Average · 10 yrs 11.51×

Fiscal year	PER ×	Basis
FYE Mar 2017	12.20	Cons.
FYE Mar 2018	10.90	Cons.
FYE Mar 2019	10.70	Cons.
FYE Mar 2020	11.10	Cons.
FYE Mar 2021	11.50	Cons.
FYE Mar 2022	10.80	Cons.
FYE Mar 2023	11.40	Cons.
FYE Mar 2024	11.90	Cons.
FYE Mar 2025	12.10	Cons.
FYE Mar 2026	12.50	Cons.

Definition: How many years of earnings the price stands for
Formula: Year-end price ÷ EPS
Source: Securities report (XBRL)

PBR price-to-book ratio

FYE Mar 2026 1.32×

Average · 10 yrs 1.27×

Fiscal year	PBR ×	Basis
FYE Mar 2017	1.11	Cons.
FYE Mar 2018	1.07	Cons.
FYE Mar 2019	0.97	Cons.
FYE Mar 2020	1.03	Cons.
FYE Mar 2021	1.37	Cons.
FYE Mar 2022	1.52	Cons.
FYE Mar 2023	1.58	Cons.
FYE Mar 2024	1.53	Cons.
FYE Mar 2025	1.17	Cons.
FYE Mar 2026	1.32	Cons.

Definition: The price measured against the book value behind it
Formula: Year-end price ÷ BPS
Source: Securities report (XBRL)

Workforce and productivity Headcount, pay and what each employee accounts for

Group employees

FYE Mar 2026 344,196people

Change · 10 yrs +69,352 people

Fiscal year	Group employees people	YoY	Basis
FYE Mar 2017	274,844	n/a	Cons.
FYE Mar 2018	282,533	+2.8%	Cons.
FYE Mar 2019	307,894	+9.0%	Cons.
FYE Mar 2020	319,039	+3.6%	Cons.
FYE Mar 2021	324,667	+1.8%	Cons.
FYE Mar 2022	333,840	+2.8%	Cons.
FYE Mar 2023	338,651	+1.4%	Cons.
FYE Mar 2024	338,467	−0.1%	Cons.
FYE Mar 2025	341,321	+0.8%	Cons.
FYE Mar 2026	344,196	+0.8%	Cons.

Definition: Everyone employed across the group
Formula: Consolidated headcount, from the employee section of the filing
Source: Securities report (XBRL)

Parent-company employees

FYE Mar 2026 2,606people

Change · 10 yrs −103 people

Fiscal year	Parent-company employees people	YoY	Basis
FYE Mar 2017	2,709	n/a	Parent
FYE Mar 2018	2,644	−2.4%	Parent
FYE Mar 2019	2,562	−3.1%	Parent
FYE Mar 2020	2,494	−2.7%	Parent
FYE Mar 2021	2,496	+0.1%	Parent
FYE Mar 2022	2,486	−0.4%	Parent
FYE Mar 2023	2,454	−1.3%	Parent
FYE Mar 2024	2,492	+1.5%	Parent
FYE Mar 2025	2,554	+2.5%	Parent
FYE Mar 2026	2,606	+2.0%	Parent

Definition: Employees of the filing company itself
Formula: Parent-only headcount, from the employee section of the filing
Source: Securities report (XBRL)

Average annual pay parent company

FYE Mar 2026 ¥10.6m

Change · 10 yrs +¥1.6m

Fiscal year	Average annual pay ¥ m	YoY	Basis
FYE Mar 2017	8.9	n/a	Parent
FYE Mar 2018	9.1	+1.2%	Parent
FYE Mar 2019	9.1	+0.7%	Parent
FYE Mar 2020	9.2	+1.2%	Parent
FYE Mar 2021	9.3	+0.9%	Parent
FYE Mar 2022	9.5	+2.3%	Parent
FYE Mar 2023	9.7	+2.0%	Parent
FYE Mar 2024	10.2	+5.4%	Parent
FYE Mar 2025	10.7	+4.4%	Parent
FYE Mar 2026	10.6	−1.2%	Parent

Definition: Average total annual compensation, bonuses included
Formula: Average annual pay, from the employee section of the filing
Source: Securities report (XBRL)

Average age

FYE Mar 2026 41.4years

Change · 8 yrs +0.1 years

Fiscal year	Average age years	YoY	Basis
FYE Mar 2017	n/a	n/a	Parent
FYE Mar 2018	n/a	n/a	Parent
FYE Mar 2019	41.3	n/a	Parent
FYE Mar 2020	41.1	−0.5%	Parent
FYE Mar 2021	41.8	+1.7%	Parent
FYE Mar 2022	41.8	−0.0%	Parent
FYE Mar 2023	41.9	+0.2%	Parent
FYE Mar 2024	41.9	−0.0%	Parent
FYE Mar 2025	41.8	−0.2%	Parent
FYE Mar 2026	41.4	−1.0%	Parent

Definition: Average age of the parent company's employees
Formula: Average age, from the employee section of the filing
Source: Securities report (XBRL)

Average length of service

FYE Mar 2026 15.6years

Change · 10 yrs −1.2 years

Fiscal year	Average length of service years	YoY	Basis
FYE Mar 2017	16.8	n/a	Parent
FYE Mar 2018	16.8	+0.2%	Parent
FYE Mar 2019	16.8	−0.0%	Parent
FYE Mar 2020	16.7	−0.6%	Parent
FYE Mar 2021	16.7	−0.0%	Parent
FYE Mar 2022	16.7	−0.0%	Parent
FYE Mar 2023	16.8	+0.6%	Parent
FYE Mar 2024	16.5	−1.8%	Parent
FYE Mar 2025	16.1	−2.4%	Parent
FYE Mar 2026	15.6	−3.1%	Parent

Definition: How long the average employee has been with the company
Formula: Average years of service, from the employee section of the filing
Source: Securities report (XBRL)

Temporary employees

FYE Mar 2026 44,650people

Change · 10 yrs −46,096 people

Fiscal year	Temporary employees people	YoY	Basis
FYE Mar 2017	90,746	n/a	n/a
FYE Mar 2018	80,481	−11.3%	n/a
FYE Mar 2019	62,805	−22.0%	n/a
FYE Mar 2020	51,787	−17.5%	n/a
FYE Mar 2021	47,149	−9.0%	n/a
FYE Mar 2022	44,343	−6.0%	n/a
FYE Mar 2023	43,002	−3.0%	n/a
FYE Mar 2024	44,460	+3.4%	n/a
FYE Mar 2025	43,703	−1.7%	n/a
FYE Mar 2026	44,650	+2.2%	n/a

Definition: Average number of temporary and part-time staff over the year
Formula: Average temporary headcount, from the employee section of the filing
Source: Securities report (XBRL)

Revenue per employee

FYE Mar 2026 ¥41.9m

Change · 10 yrs +¥0.4m

Fiscal year	Revenue per employee ¥ m	YoY	Basis
FYE Mar 2017	41.4	n/a	Cons.
FYE Mar 2018	41.7	+0.6%	Cons.
FYE Mar 2019	38.6	n/a	Cons.
FYE Mar 2020	37.3	−3.3%	Cons.
FYE Mar 2021	36.8	−1.4%	Cons.
FYE Mar 2022	36.4	−1.0%	Cons.
FYE Mar 2023	38.8	+6.5%	Cons.
FYE Mar 2024	39.5	+1.9%	Cons.
FYE Mar 2025	40.2	+1.6%	Cons.
FYE Mar 2026	41.9	+4.3%	Cons.

Definition: What each employee accounts for in revenue
Formula: Revenue ÷ group employees
Source: Securities report (XBRL)

Operating profit per employee

FYE Mar 2026 ¥5.0m

Change · 10 yrs −¥0.6m

Fiscal year	OP per employee ¥ m	YoY	Basis
FYE Mar 2017	5.6	n/a	Cons.
FYE Mar 2018	5.8	+3.7%	Cons.
FYE Mar 2019	5.5	n/a	Cons.
FYE Mar 2020	4.9	−11.0%	Cons.
FYE Mar 2021	5.1	+5.1%	Cons.
FYE Mar 2022	5.3	+2.9%	Cons.
FYE Mar 2023	5.4	+1.9%	Cons.
FYE Mar 2024	5.7	+5.2%	Cons.
FYE Mar 2025	4.8	−14.9%	Cons.
FYE Mar 2026	5.0	+2.6%	Cons.

Definition: What each employee accounts for in operating profit
Formula: Operating profit ÷ group employees
Source: Securities report (XBRL)

Disclaimer

Figures are reproduced as filed and are not restated: a change of accounting standard or of consolidation basis moves the series without anything happening to the business. Where that happened, the table says so in place of the year-on-year figure.
Ratios and per-employee figures are computed from the filed lines rather than taken from the filing, and use year-end balances rather than averages.

Accuracy, liability, reuse and privacy — the full disclaimer →

Data API

NTT’s history, presidents and financials are published as static JSON — no key, plain GET. One API per public page, and one per section where a page carries several tables. Full specification →

/api/9432/company.json ·/api/9432/history.json ·/api/9432/ceo.json ·/api/9432/financials.json ·/api/9432/financials/segment.json ·/api/9432/financials/pl.json ·/api/9432/financials/cf.json ·/api/9432/financials/bs.json ·/api/9432/financials/employee.json ·/api/9432/financials/stock.json ·/api/9432/financials.csv ·/api/9432/financials_history.csv

/api/companies.json ·/api/decisions.json ·/api/api-manifest.json