Nippon Television Network Corporation
(TSE 9404)

As of September 30, 2006, foreign entities (as defined under Article 5-1-1 through 5-1-3 and Article 5-4-3 of the Radio Law) owned 19.99% of total Nippon Television Network Corporation (NTV) shares outstanding with voting rights. Details are as follows:

1.Foreign ownership shares as of September 30, 2006

2.Date of publication: October 25, 2006 Morning edition of The Yomiuri Shimbun

For reference:
Japanese broadcasting companies will have their licenses revoked according to the Radio Law if foreign entities (defined as (1) an individual without Japanese citizenship, (2) a foreign government or its representatives, (3) a foreign juridical person or　organization, or (4) a juridical person or organization the ratio of voting rights of which to be held directly by the entity described in items (1) to (3) is higher than the ratio specified by MIC ordinance) own 20% or more of the companies’ shares with voting rights. For this reason, when the foreign ownership ratio approaches 20%, broadcasting companies, in accordance with Broadcasting Law Articles 52-8-1 and 52-8-2, may deny requests from foreign entities for registration of shares in the shareholders’ registry, while Broadcasting Law Articles 52-8-3 restricts the use of voting rights.
Furthermore, Japanese broadcasting companies must announce when foreign ownership of shares with voting rights amounts to 15% or more of total shares outstanding with voting rights, according to Broadcast Law Article 52-8-4 and Broadcast Law Ministerial Ordinance Article 17-3-5.