The share price of Nippon Telegraph and Telephone Corp. fell sharply Wednesday to a record low 377,000 yen amid heightened market fears over NTT's uncertain business outlook, brokers said.
The figure is the lowest since 1987, when Japan's largest telecommunications operator was listed on the Tokyo Stock Exchange.
The previous low was 383,000 yen, logged Dec. 18, while the record high was 3,180,000 yen, registered in 1987.
The value of NTT stock declined during extensive selloffs provoked by fears that the planned sale of NTT shares held by the government would lead to an oversupply of NTT shares.
"Many investors are worried over the uncertainty of NTT's future profitability amid fierce competition, especially in local telephone networks," a broker said.
NTT closed the day at 383,000 yen, down 12,000 yen from Tuesday's close.
The government's last public offering of NTT shares was conducted in November -- the sixth such offering since 1986.
The government still owns a 45.96 percent stake in NTT.