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Gravity Works As WeWork Doesn't; Now Plan B

Telco/Internet specialist

Kirk Boodry

Redex Research

Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) / Equity Bottom-Up

NTT (Nippon Telegraph & Telephone) (9432 JP)

<ul>
<li>NTT has adopted a progressive telework policy that reportedly allows up to 50% of eligible employees (30,000) to work from anywhere in Japan</li>
<li>All telcos are likely to go down this path although NTT stands out as a larger and more  traditional domestic company than KDDI or Softbank</li>
<li>We have updated our model for new segment reporting. Our new forecasts support a ¥4,500 target price (March 2023) and we remain at Buy. </li>
</ul>


NTT has adopted a progressive telework policy that reportedly allows up to 50% of eligible employees (30,000) to work from anywhere in Japan
All telcos are likely to go down this path although NTT stands out as a larger and more  traditional domestic company than KDDI or Softbank
We have updated our model for new segment reporting. Our new forecasts support a ¥4,500 target price (March 2023) and we remain at Buy. 


NTT (Buy) - Updated Forecasts and Comments on Telework