Declining profits from fixed-line services -- once the mainstay of the telecom sector -- bit into the pretax profits of the Nippon Telegraph and Telephone group in fiscal 2000.
The telecommunications giant on Thursday reported pretax profits of 726 billion yen for fiscal 2000, down 12 percent, on group sales of 1.14 trillion yen, up 9.5 percent compared with the previous year.
NTT Corp. President Junichiro Miyazu, head of NTT's holding company, held a conference call to announce the results, during which he indicated that the group will drastically restructure NTT East and NTT West, the two regional firms that are reliant on fixed-line services for their income.