Nippon Television Network Corporation
(Tokyo Stock Exchange 9404)

As of March 31, 2007, 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 March 31, 2007

2.Date of publication: April 25, 2007
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 whose ratio of voting rights 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 company’s 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 are required to announce every six months 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.