Restrictions on entries or records of foreign entities made to the shareholder registry

Concerning the voting rights held by foreign entities prescribed in the Broadcast Law (1. A person not holding Japanese nationality, 2. A foreign government or its representative, 3. A foreign juridical person or organization, 4. A juridical person or organization in which the ratio of voting rights held directly by any of the parties described in items 1 to 3 above is greater than or equal to the ratio prescribed by Ordinance of the Ministry of Internal Affairs and Communications), in the event the aggregate of the ratio of voting rights directly held by parties described in items 1 to 3 above and the ratio of voting rights prescribed by Ordinance of the Ministry of Internal Affairs and Communications indirectly held by parties described in 4 above by way of the former is greater than or equal to 20% of all voting rights, the Company will be disqualified as a certified broadcast holding company as per the provisions of the Broadcast Law.

For this reason, when such a situation arises, any request for an entry or recording of a name change or the like of shares on the part of foreign entities in the shareholder registry (including the substantial shareholder registry) may be refused or the exercise of the voting rights held by foreign entities may be restricted as per the provisions of the Broadcast Law.

In the event the ratio of the number of voting rights held by foreign entities is greater than or equal to 15% of the total number of voting rights, the Company will make a public announcement to that effect every six months as per the Broadcast Law and the Regulations for Enforcement of the Broadcast Law.

* Payment of dividends to foreigners whose registration of stock ownership transfers is refused:
As publicized on December 25, 2008, as from January 5, 2009, the Company will allow such shareholders as of the record date as to be notified in a notice of information on shareholders provided by Japan Securities Depository Center, Inc. to exercise all rights other than voting rights that may be exercised by shareholders as of the record date. Dividends for the record date of March 31, 2009 or thereafter will be paid to foreigners whose registration of stock ownership transfers is refused when the foreign ownership ratio reaches 20% or more, as well.

Voting rights holding restrictions

In the event the ratio of the voting rights held or deemed to be held by a party entered or recorded in the shareholder registry of the Company (hereinafter, "specified shares") exceeds 33/100th of the total number of voting rights held by shareholders of the Company, the excess portion of the number of specified shares will be ex-rights by Ordinance of the Ministry of Internal Affairs and Communications as per the provisions of the Broadcast Law.