Citing a trend toward declining revenues in its principal communications businesses, NTT of Japan has signaled a new growth strategy that includes a shift in focus toward non-core business lines that fall outside of the telecom sector. NTT, with five subsidiaries that offer local exchange and long distance voice services, mobile telephony, and high-speed data services, ranks as one of the largest phone service providers in the world. Although NTT boasts annual sales in excess of U.S. $88 billion, the company’s revenues have been falling in the face of stiff competition from KDDI and Softbank Corp. and as fixed line customers migrate increasingly toward wireless platforms and Internet telephony. In a recent interview, Satoshi Muira, the newly-installed president of NTT, expressed a desire to increase revenues from non-core areas such as financial services and call center outsourcing as he explained that a singular strategy of bringing NTT’s telecom businesses “back on track” is “not enough to create a growth trend.” As part of his company’s goal of boosting non-core business revenues from Y700 billion to Y1 trillion “as soon as possible,” Muira affirmed that NTT also intends to capitalize on the achievements of its research and development unit with respect to fuel cells, ozone sensors, and broadcast technology. Pointing to saturated market conditions at home, Muira also expressed an interest in expanding NTT’s telecom-related activities in international markets and in pursuing potential partnerships with foreign operators.