P.65 Chairman and Outside Directors Roundtable (1)

Chairman and Outside Directors Roundtable Corporate Governance Value and deliver “Why TBS Should Do This” to the World and Create Environment Where Women Can Thrive sion is that diligent and competent people are running the business earnestly, not only in news reporting but also in other areas and in the operation of the Board of Directors. At the same time, I feel like it is in the middle of evolution. Mr. Sasaki, when you were president, you made big changes, and those were passed on to President Abe. Sometimes I feel like it is on the extension of that move, and sometimes I get excited thinking, “It is making a bold move here.” Sometimes I feel anxious, too. So I feel like I’m balancing the brakes and the accelerator. Sasaki: Are there any points where you thought, “This isn’t right,” or you found any issues? Makino: There was an executive fraud issue last year. We must ensure this is not just the tip of the iceberg and that we are not missing other problems. Therefore, we need to move forward with reforms while constantly being vigilant and keeping a close watch.

Noriko

Makino-Villanti

Outside Director TBS HOLDINGS, INC.

Takashi

Sasaki

Chairman & Board Director TBS HOLDINGS, INC.

Yosuke

Yagi

Outside Director TBS HOLDINGS, INC. Sasaki: Mr. Yagi, it’s been six years since you were appointed as an outside director. How do you feel about the changes at TBS? Yagi: Six years ago, I was excited, feeling that transformation was about to start. Back then, I thought there might be arro- gant people at the TV station, but there weren’t. I felt they were very open and sincerely committed to change. Mr. Sasaki and Mr. Abe, both are so charming. You have a vision of not compromising as a person, and managing the company in a charmingly human way. I felt you were pursuing the change earnestly. But not too hard and not too soft. It was a very good six years.

Diligent but not too much

Sasaki: First of all, Ms. Makino, now that a year has passed since you joined us as an outside director, what are your impressions of TBS? Makino: Well, in a word, my impression is that it’s a diligent company, but not too much. I asked people around me about TBS’s corporate culture when I took office. That was what one person said about the company, and I truly agree. My impres- 65