Nippon Telegraph and Telephone Corporation (NTT Corporation) has today (July 1) launched its international focused subsidiary NTT Limited, choosing London as its global headquarters.
NTT Corporation is one of Japan’s largest telecoms companies. It owns mobile network operator brand NTT Docomo which competes with SoftBank amd KDDI, as one of the largest operators in the country. There are 40,000 staff across 70 countries in the group.
NTT Limited is a merger of NTT Communications, Dimension Data and NTT Security into a single, $11-billion business. Former Dimension Data CEO Jason Goodall will lead the new firm, which claims to already partners with over 10,000 clients globally.
A vote of confidence
The launch is a vote of confidence in the UK at a time where Japanese firms are anxious over investing in Britain due to political uncertainty brought by Brexit.
Recently, Japan foreign minister TarÅ KÅno pleaded Boris Johnson and Jeremy Hunt not to lead the UK out of the EU without a deal when one of them becomes prime minister.
NTT Corporation president and CEO Jun Sawada said launching NTT’s HQ in London shows its “commitment to the UK remains extremely strong”.
He said: “We considered several locations as the headquarters for NTT Ltd and made a deliberate decision to choose London. It has many benefits, including a stable economy, wealth of skills and talent, diversity in population and thinking, strong infrastructure, schools and housing for global talent moving to the city. In short, it’s a great city to live and work in, and we’re excited that we are making it the home for our new business”.
Prime Minister Theresa May added: “Britain has a long standing and proud reputation as a global tech leader and it’s fantastic that NTT has chosen London for its global headquarters. A key part of our modern Industrial Strategy is to put the UK at the forefront of the tech and data revolution, and they will join many other world-leading companies who call Britain home”.