Nippon Television Network Corporation
(Tokyo Stock Exchange 9404)

Since the medium-term management plan for NTV Group (FY2006-2008) was formulated in May of last year, various measures have been taken for implementing the plan. Reflecting changes in the business environment and trend of our business, a new medium-term management plan has been developed.

1．　Verification of strategic direction and corporate growth

Basic management policies remain unchanged in the new medium-term management plan (FY2007-2009). Our long-term management vision states that every effort should be made to enhance corporate value through strengthening our content development capabilities by keeping video as a focal point to maximize content value. In order to remain one of the largest players of video culture across all media transmission platforms in Japan, we aim to accomplish and maintain targets set in the previous plan, that is No.1 in broadcasting sales, non-broadcasting sales, content delivery and delivering customer satisfaction. We are confident that we are on the right track toward successful achievement of the plan, having seen favorable results of an aggressive television programming revision, and rapid growth of our movie business and media commerce business during the first year of the previous plan.

2．　Revision of target numbers

We think it indispensable to respond both rapidly and proactively to the various changes which the broadcasting industry is currently facing, such as an accelerated advancement of digital technology and economic trends, in order to obtain more satisfactory results. Thus we have revised the target numbers, reflecting the FY2006 results, revision of measures to be taken and above-mentioned business environment changes. The broadcasting sales target has been reset to reflect structural changes in the television advertising market on the premise of a more conservative television advertising market forecast. On the other hand, non-broadcasting sales targets are set in line with the previous plan, expecting further business development.

＜Medium-term Earnings Target＞

*1Note: Two items included in the Non-broadcasting sales category of the previous plan have been transferred to the Broadcasting sales category of the new plan.

3．　Major points of new plan

(1)Continue to review and aggressively revise television scheduling and programming in order to redeem and increase broadcasting sales.
(2)Increase non-broadcasting sales and profits with emphasis on growing businesses such as movies and media commerce.
(3)Intensify efforts to advance ”1-SEG” broadcasting-related business and NTV2 while pursuing a ”multiple contact point” strategy.*2
(4) Undertake production of groundbreaking programs and organization of events for the ”55th Anniversary Project” through orchestrating all the talents of the NTV Group which will serve as a foundation of know-how and experience upon which business development can be furthered.
(5)Accelerate the reorganization and restructuring processes of the NTV Group companies in order to enhance its competitiveness.
(6) Fulfill social responsibilities as a public entity by strengthening our sense of compliance.

*2Note: Multiple contact point strategy offers viewers the maximum number of opportunities to come into contact with NTV content on an anytime, anywhere basis.

4．　Financial and Dividend Policy

(1)Important Financial Indicator:　Recurring Profit Margin
(2)Basic Dividend Payout Ratio:　33％ (Floor annual dividend per share: 150 yen)

The basic policy of NTV is that appropriate and stable dividend distribution is conducted, taking into consideration financial performance and continuous improvement of corporate value as well as long-term business expansion.