Nippon Television : Notification of Foreign Ownership Shares Ratio

October 19, 2017

Nippon Television Holdings, Inc.

(TSE 9404)

Notification of Foreign Ownership Shares Ratio

As of September 30, 2017, 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) owned 19.99% of total Nippon Television Holdings, Inc. (NTVHD) shares outstanding with voting rights. Details are as follows:

1. Foreign ownership shares as of September 30, 2017

   Foreign ownership of NTVHD shares (A: number of votes)	51,347,060 (513,411)
   Total issued number of NTVHD shares (B: number of votes)	263,822,080 (2,567,059)
   Ratio of foreign ownership of NTVHD shares (A / B x 100)	19.99%

2. Date of publication: October 20, 2017 Morning edition of The

Yomiuri Shimbun

For reference:

Certified broadcasting holding companies will have their certification revoked by Broadcast 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%, in accordance with Broadcast Law Articles 161, companies may deny requests from foreign entities for registration of shares in the shareholders' registry. Furthermore, Certified broadcasting holding 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 Article provided in 116-5 that is applied mutatis mutandis to Article 161-2 of Broadcast Law and Broadcast Law Ministerial Ordinance Article 203.