Summary
A recent survey conducted by Kyodo News has revealed a concerning statistic regarding female representation in leadership positions within Japan’s corporate sector. Specifically, only 13 women serve as chief executive officers among approximately 1,600 top-listed companies in Japan, highlighting the ongoing challenges in enhancing diversity among corporate decision-makers in the nation. The survey findings indicate that female executives occupy a mere 0.8 percent of the 1,643 firms listed on the Tokyo Stock Exchange’s Prime Market. This assessment is based on the fiscal 2023 financial statements that were released by the end of August. Ryusuke Ishii, a manager at the Japan Research Institute, noted that one contributing factor to the stagnation of female CEOs is the common practice of hiring top executives from outside companies rather than fostering internal promotions. However, it is noteworthy that the number of female board members has seen a significant increase, surpassing 3,000 and doubling since fiscal 2019. This development indicates that Japanese corporations are gradually making strides in elevating women to higher leadership roles. The survey further revealed that, during the three fiscal years up to 2022, the number of female CEOs among Prime Market companies consistently ranged between seven and nine, excluding 29 firms that have been on the market for less than five years. In response to these challenges, the Japanese government has urged top-listed companies to aim for at least 30 percent of executive positions to be held by women by the year 2030. As of fiscal 2023, the proportion of female executives rose to 16.2 percent, with a total of 3,052 women in such roles, an increase from 1,502 in fiscal 2019. While progress is being made, Japan’s figures still trail significantly behind Europe and North America, where female representation at the executive level ranges between 30 to 40 percent. Encouragingly, 122 companies have achieved the government’s 30 percent target by fiscal 2023. However, there are still 68 firms without any top-level female executives, although this number has decreased from 603 since fiscal 2019. In summary, while Japan is witnessing some progress in promoting female leadership, the journey towards achieving greater gender diversity in corporate leadership remains a formidable challenge.
Original Source: japantoday.com
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