NTT to tighten regional purse strings

28 Feb 2003

Japanese telecoms operator NTT has said that it will cut capex at its two regional units by 6% in the fiscal year beginning 1 April 2003 in response to dwindling revenues from traditional fixed line telephone operations. NTT East and NTT West, will invest JPY770 billion in their infrastructure and services over the year, down from the original planned outlay of JPY820 billion. Revenues at the two operating arms have been declining in the face of increased use of mobile services by customers.