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."

• 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, we plan to pay dividends by taking into account our consolidated results and consolidated dividend payout ratio based on the principle of stable dividend payments, while striving to strengthen our financial position and secure internal reserves. We will also continue to take a flexible approach regarding share repurchases. We intend to keep the repurchased shares as treasury stock and in principle to limit the amount of such treasury stock to approximately 5% of our total issued shares, and will consider retiring any treasury stock held in excess of this limit in a lump around the end of the fiscal year or at other appropriate times.

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

As Japan's mobile telecommunications market continue to mature, we regard EBITDA margin1 as an important management indicator from the perspective of profitability, to further enhance our management effectiveness. We also consider ROCE2 an important management indicator in terms of efficiency in our invested capital (NTT DOCOMO, INC. shareholders' equity + Interest bearing liabilities). We will exert our utmost efforts to maintain EBITDA margin of at least 35% and achieve ROCE of at least 20% and attempt to maximize our corporate value.

• 1 EBITDA margin = EBITDA / Operating revenues
   EBITDA = Operating income + Depreciation and amortization + 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 the amounts at the end of the current fiscal year and the previous fiscal year.>

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.

Corporate Social Responsibility

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