Nippon Telegraph and Telephone Corp. applied June 24 to the Posts and Telecommunications Ministry to establish a subsidiary to enter the international telecommunications business, the company said.
NTT hopes its new subsidiary will start services in the fall after receiving approval from the ministry, the telecom giant said. A revised NTT law allows the firm to offer international telecommunications services in Japan through subsidiaries.
The new company, to be called NTT Worldwide Telecommunications Corp., will be set up with NTT funding 100 percent of the 6.3 billion yen capital. Since NTT currently does not have international lines, the new subsidiary will provide services by leasing lines from other international carriers.
The firm plans to start services between Japan and the United States, France, Germany, Britain, Hong Kong, the Philippines and Singapore, but NTT has not yet obtained telecom licenses in the U.S. and the Philippines, according to Masanobu Suzuki, executive vice president of NTT.