Nippon Television : Disclosure pursuant to TCFD Recommendation for the fiscal year of 2023

1.5℃ Scenario(in which a low carbon society rapidly develops)

• ◎:Huge impact
• ○:Some impact
• △:Slight impact
• Short term: Within 3 years Medium term: Around 2030 Long term: Around 2050

Media Content Business

(Nippon TV, AX-ON, NiTRo, NTV ART, NTV EVENTS, and NTV Service)

Life and Health Related Business

(TIPNESS and some businesses of NTV Service)

Items	Anticipated scenarios	Risks	Opportunities	Time frame of occurrence
Stricter GHG regulations	Increased business costs due to increased renewable energy prices, carbon taxes and emissions trading	◎		Short/ medium term
	Price pass-through due to increased costs resulting from stricter regulations and carbon taxes, etc.	○		Short/ medium term
Increases in capital expenditures	Increased costs by installing more power-saving facilities due to stricter regulations	○		Short/ medium term
Reputation	Deterioration of corporate brand image due to lagging initiatives to reduce CO2 emissions	○		Short/ medium term
	Enhancement of corporate brand image by making progress in initiatives to reduce CO2 emissions		○	Short/ medium term
Changes in lifestyles	Increased demand for fitness businesses due to increased awareness regarding health and management of physical condition		◎	Medium/ long term

In the 1.5℃ scenario, companies will be required to take stricter measures to reduce GHG emissions, and cost increases are expected due to the introduction of carbon taxes and increased demand for renewable energy. If the government enforces stricter regulations, increases in capital expenditures will be inevitable. Furthermore, lagging initiatives to reduce CO₂ emissions will directly result in the deterioration of corporate brand image.

On the other hand, due to increased public interest in climate change, the role of the media to communicate accurate information will become increasingly important. If a company is seen not to be playing an adequate role, the trust placed in the company by viewers and sponsors will inevitably be diminished. In addition, it is expected that there will be an increased demand in program production for content aimed at sustainability and realization of carbon neutrality. The Group, which has the Media Content Business as the core business, is aware that we have a great responsibility to not only promote reductions in the Group's CO₂ emissions, but also to appeal to society to prevent more serious climate change from occurring.

Impacts of stricter regulations to reduce CO₂ emissions and increased energy procurement costs are also anticipated as business risks for the Life and Health Related Business. We believe that measures to capture changes in lifestyles and increased health awareness are necessary, such as progress in DX and extended use of remote work, while constraining price pass-through due to increased operation costs.