NTT, Inc. has fixed the price for the first leg of its NEC share disposal: 32.559mn shares at ¥4,308.8 each, sold off-market through a securities company mainly to overseas institutional investors. Delivery is due on November 12, 2026.
The update follows the announcement the company made on November 9. Earlier Tokyo Brief coverage
A second block, sold on different terms
The notice lists a separate block of the same size, 32.559mn shares, that NTT plans to tender into NEC's self-tender offer. That offer is priced at ¥3,462 a share and runs from November 13 to December 14, 2026, with settlement starting January 7, 2027. NTT decided on November 9 to tender.
The two blocks are listed as separate parts of the disposal, so the same shares are not sold twice. The notice states no combined total.
Accounting: a gain in the parent's books only
NTT reports under IFRS and classifies the NEC holding as a financial asset measured at fair value through other comprehensive income. The notice therefore says the sale produces no gain on investment securities in consolidated results and no effect on profit for the period.
In NTT's standalone accounts, it expects a gain of about ¥189bn on the sale, booked as an extraordinary gain in the third quarter of the year ending March 2027. The figure is an estimate based on the planned tender volume as of November 10, and the notice says it may change with the actual number of shares sold and other conditions. NTT also said it will announce promptly any change to the disposal's results that requires disclosure.