{
    "success": true,
    "data": {
        "id": 1517837,
        "msgid": "ntt-to-chase-china-southeast-asia-1447893297",
        "date": "1997-06-19 00:00:00",
        "title": "NTT to chase China, Southeast Asia",
        "author": null,
        "source": "REUTERS",
        "tags": null,
        "topic": null,
        "summary": "NTT to chase China, Southeast Asia TOKYO (Reuter): Japanese telecommunications giant Nippon Telegraph and Telephone Corp , virtually freed last week from strict governmental controls on its business, is gearing up to pursue Asian markets and multimedia services. NTT president Junichiro Miyazu told Reuters yesterday that NTT would shift its investment target overseas, particularly to China and Southeast Asia.",
        "content": "<p>NTT to chase China, Southeast Asia<\/p>\n<p>TOKYO (Reuter): Japanese telecommunications giant Nippon<br>\nTelegraph and Telephone Corp , virtually freed last week from<br>\nstrict governmental controls on its business, is gearing up to<br>\npursue Asian markets and multimedia services.<\/p>\n<p>NTT president Junichiro Miyazu told Reuters yesterday that NTT<br>\nwould shift its investment target overseas, particularly to China<br>\nand Southeast Asia.<\/p>\n<p>He added that the company plans to invest in new multimedia-<br>\nrelated services, moving away from domestic infrastructure<br>\nprojects.<\/p>\n<p>\"NTT has entered a new era,\" Miyazu said in an interview.<\/p>\n<p>\"We need to look more at Asian countries for investment now<br>\nthat we are allowed to enter the international market...and the<br>\nconstruction of domestic basic telephone networks has almost been<br>\ncompleted,\" Miyazu said.<\/p>\n<p>The new projects may boost NTT's overall investment in the<br>\nnext few years, Miyazu said.<\/p>\n<p>NTT, the world's largest telecoms company in terms of market<br>\ncapitalization, currently already spends a staggering two<br>\ntrillion yen (US$17.6 billion) a year in capital investment.<\/p>\n<p>Japan last Friday changed its telecoms laws, including one<br>\ngoverning NTT, in preparation for \"Big Bang\" deregulation reforms<br>\nin the nation's lucrative telecommunications sector.<\/p>\n<p>The Upper House of parliament passed a law to allow the<br>\ntelecoms titan to be split up into three units under a single<br>\nholding firm in June 1999, paving the way for NTT to realize its<br>\nlong-held dream of entering the global market.<\/p>\n<p>With Japan's Finance Ministry widely expected to resume the<br>\nsale of NTT shares later this year for the first time in nine<br>\nyears, NTT is likely to enjoy more freedom in its management with<br>\nless government control.<\/p>\n<p>NTT, which was privatized in 1985, is still 65 percent owned<br>\nby the government because the Finance Ministry suspended its<br>\nofferings of NTT shares due to Japan's prolonged stock market<br>\ndoldrums in 1989.<\/p>\n<p>\"We will also need to focus more on profit and shareholder-<br>\norientated management,\" Miyazu said.<\/p>\n<p>He also said that the company plans to announce in June next<br>\nyear its profit forecasts for after the restructuring, which is<br>\ndue to be completed in June 1999.<\/p>\n<p>Asked if NTT was considering inviting outside directors to<br>\njoin the company, Miyazu said: \"We have no plans for the time<br>\nbeing.\"<\/p>\n<p>However, he added that the firm would invite outside directors<br>\nin the future. Asked whether this would happen at the time of the<br>\nrestructuring, he replied: \"That would be well after<br>\nrestructuring.\"<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/ntt-to-chase-china-southeast-asia-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}