Nippon Television Holdings (TYO:9404) disclosed that foreign entities held 19.99% of its voting shares as of March 31, just below the 20% threshold that could revoke its broadcasting certification under Japanese law.

The company reported 46.9 million foreign-owned voting shares out of 263.8 million total issued shares.

Under Japan's Broadcasting Law, certified broadcasters like Nippon TV risk losing their status if foreign ownership reaches or exceeds 20%, prompting strict monitoring and potential restrictions on foreign shareholder registrations.

The announcement, published in The Yomiuri Shimbun on Sunday, reflects semi-annual disclosure requirements triggered when foreign ownership surpasses 15%.