[Note: This document is a translation of the original Japanese document and is only for reference purposes.]

　The new year began on a challenging note with the Noto Peninsula earthquake on New Year's Day, followed by an aircraft collision at Haneda Airport on January 2nd.
　I would like to express my deepest sympathies to the victims of these disasters.

　Nippon Television Network Corporation (Nippon TV) captured an annual individual viewer ratings crown in 2023, ending our reign as the 12-year consecutive Triple Crown champion for commercial broadcasters. Lifestyle changes such the younger demographics increasingly playing games and consuming digital content on their smartphones factored into the result.

　We maintained our Triple Crown core viewer rating victory for 11 consecutive years for our core target (viewers aged 13 to 49), known for their information dissemination and economic activity. Thanks to the success of our linear platform core target strategy, we remained at the top of all commercial broadcasters for time and spot advertising revenue for the current fiscal year. Our spot ad share was in the high end of the 29% range, a significant lead versus our competitors. That said, total broadcasting revenue at the end of 2023 was in the mid-94% range compared to the previous fiscal year, as the lack of transparency for the future affected ad placements.
　For our 2024 linear platform programming improvements, we renew our goal of becoming No. 1 in terms of receiving viewer and client support and will make every effort to achieve it.

　As for Nippon TV's non-broadcasting revenue, events, concerts, and Anpanman business saw steady recovery as the abatement of the pandemic stimulated the movement of people. Our anime business grew dramatically, thanks to effective strategies. Frieren: Beyond Journey's End started airing in October on Fridays at 11 pm, paving the way to yield income from international sales and various other business streams. Additionally, with Studio Ghibli becoming a subsidiary, we are expecting our anime and international strategies to be bolstered further. Meanwhile, Rebooting, our drama series that enjoyed high acclaim in 2023, won numerous awards in Japan and abroad, helping boost the global presence of Nippon TV's drama series. Following the successes of NiziU and BE:FIRST, our intellectual property business, which aims to link our linear and digital platforms with events and concerts, continues to undertake initiatives that are uniquely Nippon TV.
　With regards to group companies, fitness club operator TIPNESS is on track to being profitable in the current fiscal year. Murayama, a leader in the display construction industry, and Beaglee, producer of digital comics, are posting steady increases in revenue and profit.

　For 2024, as we enter the final fiscal year of our Medium-Term Management Plan, we set forth the following policies.
1.　Accelerate our content-oriented approach to maximize the value of our content, with linear broadcasting at the core.
　Specifically, we will push through with aggressive programming improvements that aim to make our April season linear platform shows and news programs more alluring. The goal is to gain broadcasting revenue by having the future in mind, as well as increase TVer and Hulu Japan revenues.

2.　For non-broadcasting revenue, enhance synergies by effectively leveraging the Nippon TV brand and the reach of its linear platform.

3.　Fusion of broadcasting and digital platforms.
　This policy advances the switch to intellectual property of Nippon TV's content creation process (codenames include Alligator), which we have already been undertaking. It points to the research and implementation needed for the switch to intellectual property of our broadcasting technology with the future in mind, as well as the development and application of advertising technology (codename Ad Reach Max) for the purpose of revolutionizing our existing linear platform ad sales.
　The three initiatives above are challenges we take to lead us to television businesses for the next generation.

　Nippon TV enters its 71st year since the start of broadcast. As the leader of a group that continues to take on challenges courageously and boldly, I will aspire to face any issues by coming together and joining forces within our consortium. Such is the position of Nippon Television Holdings, and I hope you will continue to stand by us.
　Lasting Creations for Our Hearts and Future (working translation)
　We start the new year with this new corporate message. I humbly ask for your support in 2024.

Sincerely,

Akira Ishizawa
Representative Director, President and CEO
Nippon Television Network Corporation