A working team of the Liberal Democratic Party (LDP) that examines the state of the NTT Act has compiled a draft of the proposal. It calls for the abolition of the obligation for NTT to disclose its research results and the government's obligation to hold shares, and finally to repeal the law by the ordinary session of the Diet next year.
Under the NTT Act, the government is required to own more than one-third of the shares, but the Liberal Democratic Party's working team has been studying how the law should be, including the sale of shares, in order to cover the financial resources to increase defense spending as much as possible without raising taxes, and has recently compiled a draft of the proposal.
According to the report, the obligation for NTT to disclose its research results should be abolished because it undermines its global competitive advantage and hinders joint development with overseas companies, and we are calling for the law to be amended in the ordinary session of the Diet next year.
In addition, the obligation of the government to hold shares has been abolished, and whether or not to sell shares held by the government should be decided from a policy perspective, taking into account NTT's public nature and national security perspectives.
In addition, NTT's provision of fixed-line telephones and other services nationwide will be handled by the entire telecommunications industry, including other means of communication such as mobile phones.
The NTT Act should be abolished by the ordinary session of the Diet next year.
The working team is working on the details and will finalize the recommendations in the near future.