September 30, 2022
For Immediate Release
Company Name:TOKAI Holdings Corporation
Representative Name: Representative Director, President and CEO
Katsuo Oguri(Code No. 3167, TSE Prime Market)

Notice Regarding Acquisition of Shares in Okinawa Cable Network Inc. (Conversion into aConsolidated Subsidiary)
TOKAI Holdings Corporation (the "Company") announces that TOKAI Cable Network Corporation (Headquarters:Numazu City, Shizuoka Prefecture; President and Representative Director: Mitsuhaya Suzuki; hereinafter referred to as"TCN"), a consolidated subsidiary of the Company, concluded an agreement with Japan CableCast Inc. (Headquarters:
Chiyoda-ku, Tokyo; Chairman, CEO and Representative Director: Hiroshi Fujiwara; hereinafter referred to as "JapanCableCast") on September 30, 2022 with respect to the acquisition of shares in Okinawa Cable Network Inc. (Headquarters:Naha-shi, Okinawa Prefecture; President and Representative Director: Shigetaka Okuma; hereinafter referred to as"Okinawa Cable Network). Details are as follows.
Details
1. Reasons for the share acquisition
The TOKAI Group has been expanding its businesses since the launch of the cable TV business in Shizuoka Prefecturein 1988. As of March 31, 2022, the Group provides broadcasting services and communication services (internet accessservices) in seven prefectures, namely, Tokyo, Shizuoka, Kanagawa, Chiba, Nagano, Okayama and Miyagi, with thenumber of users totaling 887,000 for the broadcasting service and 344,000 for the communication service on a Groupwide basis.
Okinawa Cable Network, a cable TV operator serving Naha-shi and its surrounding areas, provides its broadcasting
service and/or communication service to approximately 100,000 households. Looking ahead to the future, the operator
has been developing new services such as IP broadcasting services (*1) and Hybridcast-based services by leveraging
Japan CableCast's technological competences. In addition, it began building an FTTH (Optical fiber)-based infrastructure
in Naha-shi (certain areas) and the entire area of Ginowan-shi last year with a view to meeting demand for high-speed
internet access services.
The Company believes that solutions such as IP broadcast -based services that Japan CableCast owns will be crucial
to the cable TV industry in the future. Based on this view, it will continue developing new services that have to date been
facilitated by Okinawa Cable Network, while also developing new services for the cable TV industry in cooperation withJapan CableCast going forward.
It is expected that the share acquisition will not only enable the Company to provide Okinawa Cable Network withexpertise that the TOKAI Group has been nurturing for business growth, thereby contributing to the further developmentof regional communities, but also to drive the cable TV industry's growth through joint operations with Japan CableCast.
For these reasons, the Group has decided to move forward with the share acquisition.
2. Overview of Okinawa Cable Network Inc.
(1)

Na(2)

A(3)

Name and title ofShigetaka Okuma, President and Representative Director
representative(4)

Bu siness descriptionddmrese

Okinawa Cable Network Inc.

s1-2-20 Kumoji, Naha, Okinawa

Cable TV broadcasting business, internet access/landline services, and1

related/incidental services(5)

S h a r ec a p i t a l

10,000,000 yen(6)

E s t a b l i s h e dDecember 1, 2017

(7)

Number of issued shares

200 shares(8)

Major shareholders andownership percentage

Japan CableCast Inc. 100%

(9)Relationship between thelisted company and therelevant company

The Company has no capital, personal or business relationship in particularwith the relevant company.

3. Overview of Japan CableCast Inc. (the party from whom the shares are acquired)
(1)

Na(2)

A

(3)

Name and title ofHiroshi Fujiwara, Chairman, CEO and Representative Director
representativeddmrese

Japan CableCast Inc.

sHIBIYA PARKFRONT 9F, 2-1-6 Uchisaiwai-cho, Chiyoda-ku, Tokyo(4)

Bu siness description

Provision of dedicated platforms (and related services) to cable TV operators
for the delivery of video, audio and data, streaming service of dedicatedchannels for cable operators, VNO support services for cable TV operators,
etc.

(5)

S h a r ec a p i t a l

379,309,000 yen(6)

E s t a b l i s h e dOctober 18, 2002

(7)

Relationship between thelisted company and therelevant company

The Company has no capital, personal or business relationship in particularwith the relevant company.

4. Number of shares to be acquired and the state of share ownership before and after the acquisition(1)

0 shares
Number of shares held
(Number of voting rights: 0)
before the transfer(Percentage of voting rights: 0%)(2)

Number of shares acquired

140 shares(Number of voting rights: 140)
(Ratio to the number of shares issued: 70%)

(3)

Number of shares held
after the transfer

140 shares(Number of voting rights: 140)
(Percentage of voting rights: 70.0%)

5. Schedule
Date of agreement

September 30, 2022

Date of share transfer

October 11, 2022

6. Future outlook
The Company considers that the impact of the subject matter on consolidated business results for the fiscal year ending
March 31, 2023 will be insignificant.

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7. Contact for inquiries
Business Alliance Promotion Dept. TOKAI Cable Network Corporation
TEL: 054-253-3400 Reception hours: 10:00 - 17:00<Reference> Descriptions of terms(*1) IP broadcasting service
System of transmitting broadcasting services via IP in the FTTH (Optical fiber) environment Japan CableCast andOkinawa Cable Network commenced a demonstration experiment in autumn 2021, using the facilities of Okinawa
Cable Network.
(*2) Hybridcast
A next-generation broadcasting service in which television broadcasts and online content described in HTML5 arecombined according to control signals, which are embedded in broadcast waves to order the acquisition of online
content.
Hybridcast is a registered trademark of NHK, or Japan Broadcasting Corporation.

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