NTT’s Third Quarter On Track Except for Dimension Data Write-Down; No Change to FVE of JPY 5,600
Nippon Telegraph and Telephone's, or NTT’s, third-quarter fiscal 2016 (quarter ended December 2016) result was broadly in line with our expectations. After small adjustments to our forecasts, we retain our JPY 5,600 per share fair value estimate, but reduce our ADR fair value estimate to USD 49 from USD 53, owing to strength in the Japanese yen. The company plans to delist from the NYSE on April 3, 2017, with ADRs expected to trade only on the U.S. over-the-counter market. Our fair value estimat...
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