Nippon Television Network Corporation
(Tokyo Stock Exchange 9404)

As of September 30, 2011, foreign entities (as defined under Articles 5-1-1 through 5-1-3 or 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:

For reference:
Japanese broadcasting companies will have their licenses revoked 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 116-1 and 116-2, may deny requests from foreign entities for registration of shares in the shareholders' registry, while Broadcasting Law Article 116-4 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 116-5 and Broadcast Law Ministerial Ordinance Article 91.