NTT to roll all businesses into one colossal organisation

New entity will encompass Dimension Data, NTT Data, NTT Communications, NTT Security and NTTi3

NTT Corporation is set to role all of its companies into one mammoth organisation with a combined turnover of $38bn (£29.5bn).

The restructuring will see NTT Communications, Dimension Data, NTT Data, NTT Security and innovation centre NTTi3 rolled up into a new combined business called NTT, Inc.

NTT, Inc will sit under the NTT Corporation entity and be headed by current CEO Jun Sawada.

The change is expected to be completed in Q3 of the firm's fiscal year ending 31 March 2019.

In a statement, NTT said the reorganisation will see it become "more competitive and profitable".

"NTT Group has also been driving collaboration across these operating companies with great success," it said.

"The global market is changing fast. We've seen rapid progress in technology innovation; disruption caused by new business models; and the aggressive expansion of innovative competitors.

"These factors have led to clients' increasing demand for digital transformation. We believe it's an opportunity for us to create new value and increase our presence in the global market."

NTT is not new to business restructuring, having rolled up its security operations, including the former Integralis business, into NTT Security in 2016. This move also saw staff from these businesses moved into three other NTT arms - Dimension Data, NTT Communications and NTT Data.

NTT said that $20bn of the new organisation's $38bn will come from outside its homeland Japan, based on figures from the year that ended 31 March 2018.

After this integration, NTT said it might then split its operation into two organisations - one that will cater for Japan and one for global operations. This will not affect NTT Data, which will remain as one business.