June 17, 2020

To whom it may concern
TOKAI Holdings Corporation
Katsuhiko Tokita, President & CEO(Code No. 3167 Tokyo Stock Exchange First Section)

Announcement of Merger between Consolidated Subsidiaries
It is announced that our company’s consolidated subsidiaries engaged in the Group CATV business,
ICHIHARA COMMUNITY NETWORK TELEVISION CORPORATION (Headquarters: Ichihara City,Chiba Prefecture; Representative Director and President: Masahiko Takada) and EAST COMMUNICATIONSCOMPANY LIMITED (Headquarters: Midori-ku, Chiba City, Chiba Prefecture; Representative Director andPresident: Masahiko Takada), have resolved to merge as follows at the annual general meeting of shareholders
held by each company on June 5, 2020.

1. Purpose of the merger
The purpose of this merger is to integrate (merge) consolidated subsidiaries with their service areas inclose proximity in order to optimize redistribution of human and managerial resources, thereby improving
efficiency of the sales system and reducing the cost of business operations.
2. Summary of the merger(1) Schedule of the merger
June 5, 2020
Approval of the merger agreement at the shareholders' meeting of theparties involved in the merger
October 1, 2020
Date of the merger(2) Method of the merger
A surviving company shall be ICHIHARA COMMUNITY NETWORK TELEVISIONCORPORATION, and a merged company shall be EAST COMMUNICATIONS COMPANY
LIMITED.
(3) Details of allotment pertaining to the merger
No shares or other monies will be issued or allocated as a result of the merger.
(4) Treatment of stock acquisition rights and bonds with stock acquisition rights of the merged company
Not applicable.

3. Overview of the parties involved in the merger (as of March 31, 2020)
ICHIHARACOMMUNITY
EAST
COMMUNICATIONSNETWORKTELEVISIONCOMPANY LIMITED(1) Trade name
CORPORATION.
(Merged company)(Surviving company)
2-23-18, Goichuohigashi, Ichihara 1-20-1, Asumigaoka, Midori-ku,(2) Location
City, Chiba Prefecture
Chiba City, Chiba Prefecture
Name and title of Masahiko Takada, Representative Masahiko Takada, Representative(3)
representative
Director and President
Director and President(4) Business activities
Cable television business
Cable television business(5) Capital
490 million yen
240 million yen(6) Establishment
June 28, 1989
June 1, 2000
Numberofshares(7)
26,406 shares
4,800 shares
outstanding(8) Fiscal year-end
March 31
March 31TOKAI Cable Network Corporation
Major shareholders andTOKAI Cable Network Corporation(9)
Our wholly owned subsidiary;shareholding ratio
Our wholly owned subsidiary; 100%
90.6%
4. Post-Merger situation
The trade name, address, name and title of the representative, business activities, capital and fiscal yearend remain unchanged for ICHIHARA COMMUNITY NETWORK TELEVISION CORPORATION, asurviving company of the merger.
5. Future outlook
Impact of the case on our company's consolidated results is recognized to be minor for the year ending
March 2021.

[Contact Information]
ICHIHARA COMMUNITY NETWORK TELEVISION CORPORATIONTEL: 0120-241-991 (Toll free; Available 9:00 - 17:30)
http://www.icntv.ne.jp
EAST COMMUNICATIONS COMPANY LIMITEDTEL: 0120-336-368 (Toll free; Available 9:30 - 18:30)
https://www.eastcom.ne.jp