Management Policy and Strategy

NTT DOCOMO's corporate philosophy towards the creation of a new world of communications culture.

NTT DOCOMO's "New DOCOMO Commitments" to realize our brand vision.

NTT DOCOMO's corporate vision for 2020, "HEART: Pursuing Smart Innovation."

In November 2011, NTT DOCOMO announced its new Medium-Term Vision 2015 "Shaping a Smart Life" to establish clear steps and initiatives to be implemented in order to realize the company's Corporate Vision for 2020, "HEART: Pursuing Smart Innovation."

Please see Medium-Term Vision 2015 "Shaping a Smart Life."

• (Open this content in a new window)Press Release

Please see "DOCOMO's Change and Challenge to Achieve New Growth" for NTT DOCOMO's medium-term vision through 2012.

Medium-Term Vision through 2012

Believing that providing adequate returns to shareholders is one of the most important issues in corporate management, the Company plans to pay dividends by taking into account its consolidated results and consolidated dividend payout ratio based on the principle of stable dividend payments, while striving to strengthen its financial position and secure internal reserves. The Company will also continue to take a flexible approach regarding share repurchases. The Company intends to keep the repurchased shares as treasury stock and in principle to limit the amount of such treasury stock to approximately 5% of its total issued shares, and will consider retiring any treasury stock held in excess of this limit around the end of the fiscal year or at other appropriate times. According to the resolution of the board of directors, the Company repurchased 138,141 shares of its own common stock for an aggregate price of 20.0 billion yen during the fiscal year ended March 31, 2011 and the Company retired 140,000 of its treasury stock (approximately 0.3% of its common stock outstanding before the retirement) as of March 31, 2011.

In addition, the Company will allocate internal reserves to active research and development efforts, capital expenditures and other investments in response to the rapidly changing market environment. The Company will endeavor to boost its corporate value by introducing new technologies, offering new services and expanding its business domains through alliances with new partners.

Now that the Japanese mobile telecommunications market has entered a period of maturity, DOCOMO regards EBITDA margin1 as an important management indicator from the perspective of profitability, to further enhance its management effectiveness. We also consider ROCE2 an important management indicator in terms of efficiency in its invested capital (NTT DOCOMO, INC. shareholders' equity + Interest bearing liabilities). DOCOMO will exert its utmost efforts to maintain EBITDA margin of at least 35% and achieve ROCE of at least 20% and attempt to maximize its corporate value.

• 1 EBITDA margin = EBITDA / Operating revenues
   EBITDA = Operating income + Depreciation and amortization expenses + Losses on sale or disposal of property, plant and equipment
• 2 ROCE = Operating income / (NTT DOCOMO, INC. shareholders' equity + Interest bearing liabilities)
  <NTT DOCOMO, INC. shareholders' equity and Interest bearing liabilities are the average of two fiscal year ends>

Our corporate group aims to contribute to society by carrying out our business with integrity and living in harmony with society. Based on the philosophy described in our CSR Message, we will work to create abundance and convenience in life and culture, address issues of the global environment and tackle social concerns, so that we can contribute to sustainable development of the society.

(Open this content in a new window)Corporate Social Responsibility

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