P.66 Chairman and Outside Directors Roundtable (2)

Chairman and Outside Directors Roundtable Corporate Governance

Value and deliver “Why TBS Should Do This” to the World

Sasaki: Is there any area you think we should work harder on? Yagi: As the company moves toward globalization, the “G” in its EDGE strategy, I hope you will continue to look to the strengths and values of Japan. The idea of selling stuff that overseas markets are willing to buy, like anime, and using that to drive growth and profits, is fine in and of itself. However, I’d like to see the company create something new of value originating from Japan, and I believe it can. You should explore that area and strengthen the G part more. Sasaki: Mr. Yagi often used to say, “We won’t go out into the world just to curry favor at any cost; rather, we should go out while valuing why it must be TBS who does that.” It’s a bit of a strong way of putting it, but there’s some truth to it. Yagi: That’s it. Rather than chasing what’s already popular, like K-Pop and Korean dramas, I hope it focuses on delivering what the world expects from TBS or Japan. Many people around the world recognize what makes Japan unique. I think it would be great to present “worlds that we are seeing” through the lens of right and wrong rather than gain and loss. Sasaki: TBS has made a significant investment in Legendary Entertainment. Many things are unknown yet, but how do you frankly view it? Yagi: A large investment is needed to move toward. Moreover, since you are getting into a place with a very high reputation in the U.S., there is also a risk of failure. But there’s no success without a challenge. I think it’s great. It’s great to face industry leaders as an equal and get your own views through. Makino: It was really great that the company set 2024 as the first year of its global business and actually started it. It will take time to achieve great success. What is important is how you set milestones, how you learn from them and what you share. People involved in the Legendary project and people in charge of format sales should engage in cross-functional dis- cussions. It’s important to share information, like, cases where common sense in Japan didn’t work there. Yagi: I think you shouldn’t follow “When in Rome, do as the Romans do.” You need to clearly convey what you cannot give up. American businessmen insist, like, “When in Rome, do as the Romans do,” “listen carefully,” or “value relationships.” But Japanese people tend to listen too much. We need people who don’t give in to American management theories and can figure out how to win while understanding their own strengths and weaknesses. When going abroad, there is a risk of being pulled apart by centrifugal force, so you need to provide centripetal force. So, rather than skills, it’s more important to have someone in the center who can clearly articulate what kind of company TBS is and what aspirations and ideas it aims to achieve. Sasaki: I think TBS stands out as a broadcaster that goes abroad, but are there any precautions? There are various approaches, such as acquiring a company and partnering with it while adapting to local customs, as the saying goes, “When in Rome, do as the Romans do.” But we haven’t fully decided on the policy. 66