President Junichi Miyagawa took the stage at the 2023 second quarter financial results briefing.
“NTT’s story is nothing more than sophistry.”
At the 2023 second quarter financial results briefing held on November 8, SoftBank President Junichi Miyagawa said this in a dismissive manner.
SoftBank’s financial results are doing well. Consolidated results for the first half of FY2023 are 2,933,758 million yen in sales and 302,141 million yen in net income, which is a 66% progress rate for sales and 72% for net income against the full-year forecast for FY2023. The situation is slightly upward.
The number of smartphone subscriptions across SoftBank brands has exceeded 30 million.
Mr. Miyagawa himself praised the company during the briefing, saying, “We are making good progress toward the goals we set at the beginning of the fiscal year.” He also revealed on November 6 that he had achieved his goal of “30 million smartphone subscriptions (including corporate customers) by the end of 2023,” which he had set out to do since August 2020, and expressed his sense of relief.
President Miyagawa: “It sounded like NTT itself was saying it wasn’t directly involved.”
Slide material for “Our Thoughts on the NTT Act 2” released by NTT on November 7th.
The reason why President Miyagawa became so assertive as he did at the beginning was when a question related to the NTT Act came up.
The details are explained in a separate article, but currently, between NTT and non-NTT telecommunications carriers, the Nippon Telegraph and Telephone Corporation Act (commonly known as the NTT Act), which defines how NTT should inherit assets from the era of state-owned enterprises. ) Opinions are divided into two regarding the abolition or change of “.
NTT President Akira Shimada spoke on stage at the 2023 second quarter financial results on November 7th.
President Miyagawa’s comment calling it “sophistication” was in response to NTT President Akira Shimada’s remarks at NTT’s 2023 second quarter financial results held on November 7, the day before SoftBank’s financial results briefing. .
“At the time of allocating shares to the government during privatization, the assets (infrastructure such as utility poles and station buildings constructed using public funds) belonged to the government as the (major) shareholder.” (NTT President Shimada)
In response, President Miyagawa directly refutes this.
“NTT East and West are the ones that own and manage the inherited assets from the public corporation era.The NTT Holding Company owns 100% of the shares of East West.The inherited assets belong to the shareholders.I It sounded like NTT itself was saying it was not directly involved.” (Softbank President Miyagawa)
President Miyagawa added, “It would be unfortunate if (NTT) has a weak sense of ownership in owning the inherited assets.Once again, (the inherited assets) should be returned to the country.” Ta.
If the repeal of the NTT Act is forced, “this lump won’t go away for 10 or 20 years.”
President Miyagawa answered the financial results briefing and Q&A with a smile on his face from beginning to end, but he seemed to purposely use strong words regarding the NTT Act.
He also warned that this issue is not just a problem related to competition as a telecommunications carrier, but will have a major impact on the telecommunications industry as a whole and the lives of the people who use it in the future.
“In the end, there are conflicting opinions between NTT and non-NTT, and even if we are forced to do so (in the form of repealing the NTT Act), we will not give up until the end.That is why we will continue to be in a position that we dislike (even in the future). Become.
Until now, we as a telecommunications company have led the telecommunications industry by cooperating when possible and by talking to each other about technology. Is it okay to break up over something like this?
I don’t think this lump will go away in 10 or 20 years unless we open up and have a proper discussion and move on to the next stage after discussion, rather than having someone make a unilateral decision.” President Miyagawa)
Currently, discussions about the nature of the NTT Act are being held by a project team within the Liberal Democratic Party. However, President Miyagawa also expressed dissatisfaction with the way the debate was being held, saying, “Shouldn’t the debate about repealing the law be in the Diet?”
The government is considering selling NTT stock to fund increased defense spending. The project team is expected to submit a proposal by the end of November, and it is likely that disagreements between NTT and non-NTT carriers will continue.
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Source: BusinessInsider
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