[TBS Holdings] One-Year Update on Acquisition Proposal Policy | May 2026

Update and Continuation of Policy

TBS Holdings Inc. has decided to update its acquisition proposal policy, originally formulated in 2007, for one year until the shareholders' meeting in June 2026. This ensures transparency through advance information disclosure and sufficient review periods for large-scale acquisitions, while maintaining a framework to safeguard corporate value and shareholder interests. The policy positions, alongside Regulation of the Broadcast Law, as part of voluntary corporate strategy aimed at appropriately responding to acquirers’ actions. The stance particularly emphasizes maintaining the public interest and neutrality of broadcasting business while striving for long-term enhancement of corporate value.

Impact on Shareholders and Future Outlook

The renewal of this policy will not directly affect shareholders or investors' rights, and the company remains committed to maximizing corporate value and sustainable growth. In response to acquisition proposals, the company will ensure proper handling through prior information disclosure and third-party evaluations, with a framework to seek shareholder approval when necessary. Moving forward, the company will continue promoting VISION 2030 and mid-term management plans, aiming to enhance corporate value while maintaining the public interest and diversity of its broadcasting business.