NTT pumps $470 million into cloud computing by 2012

It seems Japan is getting more serious as far as cloud computing adoption is concerned.
Nippon Telegraph and Telephone, better known as NTT, is planning to invest about $470 million into cloud computing system-related R&D over the next three years. This decision may just right come right in time (or possible half a year too late) as Japan’s companies have to overcome drastic drops in earnings and might be all the more interested in cutting costs through boosting cloud computing usage.
Starting this year, NTT plans to invest about $157 million yearly till 2012, about 8 times more Japanese media speculate the company spent in 2008 for cloud computing research.
NTT says some Japanese companies still shy away from cloud computing, in fear of what to expect in the case of a disaster, security threat or quality issue. These fears are going to be addressed through making use of proprietary encryption technologies and improved anti-disaster measures.
Employing nearly 200,000 worldwide, NTT is one of Japan’s biggest corporations. The company is listed in the Tokyo, New York, and London stock exchanges, with the Japanese government owning about one third of all shares of the company.
Via Nikkei [registration required, paid subscription]

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