November 21, 2022 Authorization of Investment by Japan Broadcasting Corporation in the Holding Company in the Relevant Business and Approval of the Investment Plan in the Relevant Business

The Ministry of Internal Affairs and Communications (MIC) submitted an inquiry today to the Radio Regulatory Council (Chaired by HIBINO Takashi, Chairman of the Board, Daiwa Securities Group Inc.) concerning the authorization of investment in the holding company in the relevant business and the approval of the investment plan in the relevant business applied by the Japan Broadcasting Corporation (headed by MAEDA Terunobu, President; hereinafter referred to as NHK) based on the provisions of the Broadcasting Act (Act No. 132 of 1950). A report was received from the Council stating its approval as inquired.
In response to this report, MIC will promptly make authorization for this matter.

1. Summary

On October 25, 2022, there were applications from NHK for the authorization of investment in the holding company in the relevant business based on the provisions of Article 22-2 of the Broadcasting Act and for the approval of the investment plan in the relevant business based on the provisions of Article 22-3 of the same.

(1) Application for Authorization of investment in holding companies in the relevant business:
NHK applies for the authorization of the establishment of a holding company in relevant business in order to improve the efficiency of the work of NHK's subsidiary companies, as well as of investment in the holding company in the relevant business in order to promote the improvement of governance and increased sophistication of business management based on the provisions of Article 22-2 of the Broadcasting Act.

(2) Application for Approval of investment plan in the relevant business
Upon trying to receive the authorization of (1) above, NHK makes an application for the approval from the Minister for Internal Affairs and Communications on the plan for investment by the holding company in the relevant business in its subsidiary company based on Article 22-3 of the Broadcasting Act.

2. Report from the Radio Regulatory Council

MIC submitted an inquiry today to the Radio Regulatory Council concerning the authorization of investment in holding companies in the relevant business and the approval of the investment plan in the relevant business, and received a report from the Council stating its approval as inquired.

3. Future schedule

MIC will promptly authorize the investment in the holding company in the relevant business and the approval of the investment plan in the relevant business, based on the report from the Radio Regulatory Council.

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