ミライト・ホールディングス（1417）
Contents
1.2. SBS DIC
3. LTE Wi F ICT Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 EV amp NTT
4. KDDI 2013 3 38 477 4796 1496 ICT NTT
5. NTT NTT NTT NTT 2013 3 NTT 99 903 37
6. SR 2014 3 4 19 4 29 1 1721 8 39 1 1951 6 59 Shared 1 esearch lp http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4
7. NTT ICT NTT NTT NTT 725 7 600 8 7 5 9 94 000 3 2 023 18 200 10 LTE 4 5
8. EV SR EV ICT 2014 3 18 3 Wi Fi shared esearch lp
9. SR NTT NTT
10. MM 2013 9 2013 3 3 2 2 461 16 2013 9 MM NTT 71 8 KDD1 1 9433 KDD1 12 6 1 9503 5 9 UCOM 2 29 KDD1 2012 3 au NTT
11. SR Inc SR tnc 3 31 12 03 5834 8787 http www sharedresearch D Email info sharedresearch D sSh afedi esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved
12. 3 amp NTT 2014 3 ICT sh ared hesearch http www sharedresearch
13. 2 1987 2012 12 NTT
14. Weaknesses 2013 3 NTT 3796 1 9437 149 6 NTT 519 2014 3 4 196 4 29
15. NTT 2012 3 2014 3 26 Sh ared Gear http www sharedresearch jp Copyright C 2013
16. SR 1999 70 2010 2 14 2014 3 9 2010 10 eR gt Tl TOSYS 2012 10 _ 394 _ 3 ET gt 2014 3 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 201477 4 NTT NTT NTT
17. LTE Advanced 100MHz 20MHz 15MHz 100MHz 3Gbps SR SR NTT LTE 3G LTE Advanced NTT LTE Advanced Shared Gxcscarch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved sSh afe
18. 2014 3 1 2013 8 6 2014 3 1 Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 67 504 4 8 56 780 8 6 791 32 9 1 010 27 3 609 2013 3 1 1 164 M2M ICT
19. ICT 2012 10 3 2 NTT 109 100 2 1 LTE I 81 300 34 8 ICT
20. EV CATV sh ared WeseaTch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 3 10 100 NTT 500 2017 3 2014 3 800 2 400 2014 3 1 5 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 7 4
21. NTT 110 500 4 755 Sh ared Gear LI http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 201477 4 1946 1946 2 1960 3
22. 2014 3 35 496 NCC CATV NCC New Common Carrier 1985 KDDI 1 9433 KDD 1 9984 eT shared esearch lp http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1 1417 SR Research Report 2014 7 4 0 f I 3 9G LTE _ gt 9995 Oe i P dg LAN WIFI
23. 1 14 SR 2014 3 Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 201477 4 OPTOS Outside plant provisioning and intelligent operating systems NGN Next Generation Network TIP IP LTE Long Term Evolution 3G
24. amp 3 amp sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 7 4 14 3 14 3 ple cle 6 3Q 13 3 52 263 64 239 62 107 92 409 56 780 62 966 66 072 91 902 97 4 285 000 8 896 21 296 18 6 11 8 8 6 2 09 6 4 0 59 5 2 5 656 7 024 6 613 9 847 5 574 6 493 7 361 10 548 34 396 30 196 38 696 3 596 4 8 7 6 11 3 7 1 11 2 10 9 10 6 10 7 9 8 10 3 11 1 11 5 4 677 4 471 4622 4727 4 783 4 509 4603 4 626 4 696 3 9 1 9 0 9 2 3 0 8 0 4 2 196 8 996 7 0 7 4 5 1 8 4 296 7 0 5 0 1 179 2 552 1 992 5 119 791 1 983 2 758 5 922 95 5 12 000
25. 2013 3 1 100 2014 3 8 500 1 000 4 900 M amp A ICT 4 000 1 200 11 454 5 6 10 8 0 1 18 521 500 M amp A 2014 3 25 6 22 19 10 19
26. LITE Advanced LTE Advanced ITU 4 LTE 1Gbps 100Mbps http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 International Telecommunication Union 4 LTE Advanced 3G 73 5 D LTE 3 5G HSPA 3G W CDMA 2000 2010 2020 SR LTE Advanced LTE
27. 3 10 12 10 59 1 4 sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 6 9 8 2 7 9 10 1 6 211 3 5 2013 3 3 393 223 7 3 2014 3 65 29 46 1 4 SR
28. M amp A 34 600 29 6 Wi Fi M amp A 45 800 22 5 Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 2013 3 10 8 2012 3 0 6 18 497 1 5 1 NTT 2 3
29. 1 OPTOS 2 3 Sh ared Gear http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 3 NTT
30. NTT 1 1417 SR Research Report 2014 7 4 2014 3 31 341 18 513 277 720 83 064 64 155 58 368 39 289 38 488 27 536 24 964 14 682 SR 2013 12 1990 70 2014 3 3 9 3 9
31. ICT 8 000 18 79 2012 M amp A 9 400 14 59 2013 3 1 2012 M amp A 2014 3 1 9 8 2013 3 1 1 4 4 783 2 3 1 NTT 2 3 2013 3 1 Sh aredd esearch http
32. 33 949 990 2013 8 2013 8 6 2014 3 1 2013 8 6 NTT INTT 3 3 2013 10 1 1 1 NT NTT
33. 2014 5 sSh afedi esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 201477 4 SW Strengths Weaknesses Strengths 2014 3
34. SR Inc SR Inc Shared Researcn SR Inc SR Inc SR Inc SR Inc
35. 2010 10 I II 3 3 NTT INTT ICT 2014 3 NTT 36 30 10 3 11 3 12 3 13 3 3 3 255 299 246 603 236 038 271 018 277 720 3 1 3 496 14 896 2 5 NTT 116 600 110 000 111 400 109 100 99 900 5 7 2 8 496 45 7 44 6 47 2 40 3 36 0 75 000 68 100 60 300 81 300 84 500 9 296 34 896 3 996 29 496 27 696 25 596 30 096 30 496 ICT 25 300 25 600 26 700 34 600 40 200 1 296 29 6 16 2 9 9 10 4 11 3 12 8 14 5 38 200 42
36. LAN LAN PBX Private Branch eXchange ISDN 700 900MHz LAN LAN Local Area Network EEE 802 IEEE802 11 LAN sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 Wi Fi LAN LAN
37. 2012 3 2014 3 SR M amp A M amp A M amp A SNaredQewearh htp www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 201477 4 2014 3 3 2014 2 6 2014 3 3 3 21
38. 2 1 3 3 2013 10 1 Sh ared Gear http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 7 4 2 3 3 2013 10 1 2014 3 2013 4 2013 4 30 2013 3
39. 2011 3 3 201 1 3 26 862 Shared esearch lp http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 201477 4 2014 6 5 2014 5 9 2014 3 2015 3 2017 3 2014 3 2017 3 cd ui 310 000 2014 3 277 720 17 000 11 454 5 596 4 19 ROE 8 6 7
40. 3 ICT 2014 5 M amp A sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1 1417 SR Research Report 2014 7 4
41. 18 600 NTT Ssh ared Gear http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 14 3 jc 277 720 310 000 11 6 NTT 99 900 84 000 15 9 84 500 80 000 SR ICT 93 200 146 000 56 79 47 700 45 500 SR LL 2017 3
42. IE NTT NTT NTT ICT amp 1 2 NTT
43. LTE Wi Fi NTT LTE ICT Wi Fi ICT NTT 22 100 12 2 NTT NTT 17 100 42 7 LTE
44. SR Ea SR IMCS Inbuilding Mobile Communication System Wi Fi 3G LTE Shared 1 esearch lp http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1 1417 SR Research Report 2014 7 4 2014 5 2014 3 10 3
45. 2013 3 271 000 265 000 10 8000 8 300 11 700 9 000 4 100 3 300 10 19 01 4 84 3 07 2 91 2 1 67 1 45 1 44 1 31
46. 2014 LTE WiMAX Wi Fi LAN 2012 7 2015 2010 20 8 a 1 84 39 1 2 08 LTE LTE 2013 3 24 400 20
47. NTT 08 3 09 3 10 3 11 3 12 3 13 3 14 3 48 397 47 495 46 489 45 330 44 085 4 234 4 105 3 987 3 696 1 996 2 196 2 596 2 796 90 496 3 096 2 996 39 620 36 361 33 238 30 271 27 521 25 042 23 000 21 120 8 596 8 296 8 696 8 996 9 196 9 096 8 296 8 296 8 777 11 134 13 251 15 059 16 564 17 300 18 050 18 750 27 1 26 9 19 0 13 6 10 0 4 496 4 396 3 99 SR NTT 08 3 09 3 10 3 11 3 12 3 13 3 14 3 8 350 8 850 8 459 7 796 7 841 7 549 6 907 6 400 1 6 6 0 4 496 7 89 0 6 98700 8 596 73 4 950 5 750 5 239 4 846 4 801 4 639 4 277 4 000 0 5 16 2 8 9 7 5 0 9 3 4 7 8 6 5 3 400 3 100 3 220 2 950 3 040 2 910 2 630 2 400 4 5 8 8 3 9 8 4 3 1 4 3 9 6 8 7 SR Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Sh sfed esearch http www sharedresea
48. EV 4 000 1 200 11 19 10 1 1 100 NTT LTE ICT NTT 10 506 11 59
49. 1 NTT 3 SR 3
50. ep 1 OM lt 3 9 4 0 1 re er Si 4 ok 2 JY 4 nh f 8 i SR IP NTT NTT NTT
51. 2 3 5 5 2 5 6 1 4 6 3 117 9 150 3 300 10 300 13 600 26 2 21 4 5 9 12 6 10 9 2 6 5 8 2 8 6 2 4 8 1 746 5 440 2 200 6 100 8 300 2910 3 31 3 26 0 12 1 15 596 SR 14 3 15 3 277 720 285 000 2 5 2 6 NTT 99 900 94 000 5 9 36 0 33 0 98 400 94 000 4 596 35 49 33 0 28 500 40 000 40 4 10 396 14 0 ICT 50 800 57 000 12 2 18 396 20 0 SR 2015 3 285 000 2 6 13 000 13 5 13 600 10 9 8 300 15 5 http www sharedresearch jp Copyright C 2013 Shared Re
52. 310 000 17 000 5 596 ROE8 0906 NTT 1CT ICT 2014 3 34 2017 3 459 1CT ICT 2014 3 47 700 2017 3 98 000 ICT Wi Fi amp
53. DPS 20 0 20 0 20 0 20 0 BPS 1 197 8 1 218 4 1 257 7 1 362 6 19 040 20 485 14 850 17 627 60 366 66 154 82 708 78 647 102 745 107 924 126 542 126 009 30 510 30 092 29 225 29 559 12 604 12 396 13 481 16 839 2 446 3 297 3 507 3 583 159 028 148 307 153 711 172 756 175 992 23 139 29 307 38 109 33 919 182 181 488 64 35 198 38 781 53 814 49 575 220 44 321 60 12 344 12 012 12 312 12 243 47 542 50 793 66 126 61 818 106 119 100 764 102 917 106 630 114 173 402 225 809 124 890 3 635 5 457 1 683 9 073 3 635 450 2 394 1 511 2 712 934 14 2 124 2 487 3 546 4 ROA 3 696 2 4 2 2 2 6 4 1 ROE 5 7 3 7 3 3 4 1 6 7 65 196 66 596 65 396 60 0 63 0 SR
54. 12 6 99 900 8 4 4 500 1 900 2013 10 6 1417 SR Research Report 2014 7 4 85 300 1 0 84 500 3 9 LTE LTE 1 8 ICT ICT 39 400 12 4 40 200 16 2 60 300 26 5 52 900 15 69 EV Wi Fi
55. 2014 3 3 2014 3 2 2013 11 7 2014 3 2 280 000 285 000 2 2013 10 29 2 137 917 2 8 119 746 2 8 2 774 25 6 3 117 26 2 1 746
56. 1 NTT 2 3 2010 3 2012 10 2 amp 2014 2 2014 2 6 130 1 529 10 2014 2 7 2014 9 30 2013 10 2013 10 29 2014 3 2 2014 3 2 119 700
57. 3 SR SR
58. 11 39 12 267 4 3 7 186 71 1 Sh aredd esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 4 2015 3 14 3 15 3 alg 119 746 157 974 120 000 165 000 285 000 2 8 2 2 0 2 4 496 2 6 107 679 140 064 5 253 300 12 067 17 909 31 700 6 3 8 8 5 89 10 1 11 3 11 1 9 292 9 229 18 600 7 8 5 8 6 5 2 774 8 680 3 000 10 000 13 000 25 69 22 196 8 1 15 2 13 5
59. 124 000 2 700 4 000 3 100 4 300 1 700 2 500 NTT 2014 3 sh ared hesearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 2 2013 10 8
60. 243 596 751 3 6 096 32 996 22 396 38 5 15 7 10 7 2 39 4 09 3 296 5 596 1 4 3 1 4 296 6 4 4 2 1 390 2 836 2 209 5 330 1 010 2 107 3 094 6 056 98 1 12 500 214 4 445 4 5 1 27 396 25 796 40 1 13 6 6 2 2 7 4 49 3 6 5 8 1 896 3 3 4 7 6 6 4 4 1 164 1 222 990 3 152 609 1 137 1 647 3 793 95 8 7 500 127 1 8 596 096 66 49 20 39 78 6 1 9 1 6 3 4 1 1 1 8 2 5 4 1 2 6 SR 4 1 3 4 2014 3 2014 5 9 2014 3 282 026 1 49 277 720 2 5 Ec NTT 96 800
61. 35 496 28 500 10 3 ICT 50 800 18 3 SR NTT 2014 3 36 096 1 9432 NTT NTT NTT NTT SR Shared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1 1417 SR Research Report 2014 7 4
62. NTT 44 200 15 0 37 500 23 99 LTE LTE ICT 1ICT 18 100 25 0 19 700 1 19 2012 M amp A Na 3 700
63. SR Research Report 2014 4 1417 sr_inquiriesQ sharedresearch jDp 0 6 1417 SR Research Report 2014 7 4 EE EE 5 4 ooo 4 i 5 OO OO 11 CSC 11
64. Wi Fi LAN WAN Wide Area Network LAN Sh ared csearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 135 8111 5 6 36 03 6807 3111 1 2010 10 1 2010 10 1 HP http mirait co jp index html 3 IR TIR http mirait co jp ir financial general html IR IR Sh afedi esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report
65. 2014 4 SR GCA
66. KLab TOKAI
67. i 22 i 29 Mii 31 37 9 37 amp Li 37 39 CC Ca CC SO 40 i 40 ScC CS 42 Sh ared esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 4 10 3 11 3 12 3 13 3 14 3 15 3 3 3 255 299 246 603 236 038 271 018 277 720 285 000 3 196 3 496 14 8 2 5 2 6 27 830 24 345 24 044 29 340 29 976 9 7 12 5 22 0 2 2 10 9 9 9 10 2 10 8 10 8 8 474 4 989 5 267 10 842 11 454 13 000 23 896 41 1 105 8 5 696 13 596 3 396 2 0 2 29 4 09 4 196 4 696 9 139 5 777 6 183 11 765 12 267 13 600 20 396 36 896 90 3 4 396 10 996 3 6 2 396 2 69 4 396 4 496 4 896 5 789 3 747 3 251 4 200 7 186 8 300 27 6 35 396 29 2 71 1 15 596 2 39 1 59 1 49 1 596 2 6 2 9 85 382 85 382 85 382 85 382 EPS 61 1 39 5 51 0 87 3 102 1 EPS
68. www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 4 2012 M amp A 2013 3 2013 5 10 2013 3 278 168 10 3 271 018 14 8 10 842 105 8 11 765 90 3 4 200 29 2 LTE Wi Fi
69. 4 1 26 4 SR 2012 2013 2 LTE _ AXGP WiMAX2 LTE 100Mbps lt 112 5Mbps 150Mbps 2012 34 4 2013 3 4 2013 12 2014 3 Xi Xi Xi 0 24 400 45 000 55 300 A2012 9 A2013 10 VT ka LTE 800MHz 98 800MHz 99 2 1GHz 78 2 1GHz 80 4A2012 9 FDD LTE ki Bank FDD 29 000 2 1G 1 7G 2 5G 94 000 A2013 3 TDD 27 000 TDD 42 000 4 Soft Bank wm 2011 11 AXGP SR 2015 LTE LTE Advanced Nii iilA A Na al
70. 600 37 400 45 800 52 900 11 596 22 596 15 596 15 096 17 396 15 896 16 9 19 0 SR 2015 3 NCC CATV ICT Wi Fi ICT sh ared WeseaTch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 4 277 720 NTT 99 900 36 0 98 400
71. 94 000 EV 40 4 40 000 ICT M amp A 12 19 57 000 51 100 104 1 EV Wi Fi 2 800 7 000 700 800 31 700 5 8 200 M amp A
72. jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 7 4 ICT 58 115 SS mT mA M amp A SR M amp A
73. 0 23 0 30 900 4 8 Wi Fi 1 8023 amp 3 5 532 3 3 10 99 0 4 10 596 NTT
74. 14 3 55 300 201 5 3 95 300 700MHz LTE 2015 1 2015 3 LTE Advanced KDD1I 1 1417 SR Research Report 2014 7 4 08 3 09 3 10 3 11 3 12 3 13 3 14 3 EE NTT 7 587 7 376 6 865 6 685 7 268 7 537 7 031 6 900 18 896 2 8 6 9 2 6 8 7 3 7 6 7 1 9 LTE 260 923 2 189 3 878 4 650 255 0 137 2 77 2 19 9 KDDI 5 013 5 751 5 180 4 418 4 216 4 670 5 718 5 800 20 2 14 7 9 9 14 7 4 6 10 8 22 4 1 496 3 917 4 321 3 768 3 387 3 042 3 382 3 443 3 800 19 1 10 3 12 8 10 1 10 2 11 2 1 8 10 4 1 096 1 406 1 387 1 031 1 156 1 288 1 978 2 000 24 5 28 3 1 4 25 79 12 1 11 4 53 6 1 1 2 937 2 591 2 229 4 074 5 007 7 794 7 474 5 500 24 796 11 8 14 0 82 8 22 9 55 7
75. 4 331 5 0 185 818 4 0 3 NTT 77 400 8 9 68 800 10 2 2013 10 64 500 8 3 58 600 16 6 LTE LTE ICT ICT 29 200 19 3 27 400 23 4 43 00
76. MIMO multiple input and multiple output Carrier Aggregation 2 MIMO LTE 2x2MIMO 4x 4MIMO LTE Advanced 8 8x8MIMO LTE MIMO 2x2MIMO 4x4MIMO Sh ared esearch http Www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 4 MIMO vaz 1 2Z SR LTE
77. N WAN LAN NW Wi Fi 700MHz esearch lp http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved Shared 6 1417 SR Research Report 2014 7 4 2012 10 1 3 2 2013 3 7 454 NTT 2 300 1 600
78. Shared Research Inc All Rights Reserved 1417 SR Research Report 2014 7 4 09 3 10 3 11 3 12 3 13 3 3 3 3 30 833 27 830 24 345 24 044 29 340 29 976 11 7 10 9 9 9 10 29 10 89 10 896 19 712 19 356 19 356 18 776 18 497 18 521 7 5 7 6 7 8 8 0 6 8 6 7 11 121 8 474 4 989 5 267 10 842 11 455 4 296 3 3 2 0 2 2 4 096 4 196 1 7 2 3 1 5 1 4 1 5 2 7 RO A 2 7 3 6 2 4 2 2 2 6 4 49 ROE 4 696 5 796 3 7 396 4 196 196 1 59 1 59 1 60 1 56 1 66 1 59 50 690 50 613 63 662 64 579 291 9 278 3 235 1 254 29 CF 0 21 0 15 0 04 0 18 18 5 19 7 13 296 15 396 CF 0 1 0 1 0 0 0 1 51 3 52 7 49 3 53 0 SR 2011 3
79. di esearch http www sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 LTE Advanced LTE 3 4GHz
80. http Wwww sharedresearch jp Copyright C 2013 Shared Research Inc All Rights Reserved 1 1417 SR Research Report 2014 7 4 IT IP _ CS 5 1 lt se RE 3 1 ai NA SR Wi Fi amp Wi Fi amp Wi Fi PBX IP PBX LA
81. rch jp Copyright C 2013 Shared Research Inc All Rights Reserved 6 1417 SR Research Report 2014 7 4 NTT 2009 2010 2011 2012 3 NGN NTT T ras Ee 1 NTT SR 10 20
82. search Inc All Rights Reserved 1417 SR Research Report 2014 7 4 2015 3
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