Summary
A recent survey conducted by Kyodo News has revealed that Japan has only 13 female Chief Executive Officers (CEOs) among the approximately 1,600 top-listed companies. This statistic highlights the slow progress that Japan is making in enhancing diversity within its corporate leadership, as only 0.8 percent of the 1,643 firms on the Tokyo Stock Exchange’s Prime Market are led by women. The findings, based on an analysis of fiscal 2023 financial statements that were released at the end of August, indicate a persistent lack of advancement in appointing female CEOs. According to Ryusuke Ishii, a manager at the Japan Research Institute, this stagnation can be attributed in part to the trend of hiring top executives from external organizations rather than promoting from within existing structures. While the number of female CEOs remains disheartening, there has been some positive movement regarding female representation on corporate boards. The survey showed that the total number of female board members has surpassed 3,000, marking a doubling since fiscal 2019. This increase suggests that Japanese corporations are beginning to make incremental progress in elevating women into leadership roles. Moreover, the survey highlights that, excluding 29 companies that have been listed for less than five years, the number of female CEOs in the 1,614 Prime Market companies has fluctuated between seven and nine from fiscal 2020 through fiscal 2022. In alignment with these observations, the Japanese government has set an ambitious goal for top-listed firms to ensure that women comprise at least 30 percent of executive positions by the year 2030. As of fiscal 2023, the proportion of female executives reached 16.2 percent, which equates to 3,052 women, a significant increase from the 1,502 reported in fiscal 2019. Despite this improvement, Japan’s figures continue to fall short when compared to Europe and North America, where the representation of women in executive roles ranges between 30 to 40 percent. Nonetheless, 122 companies have met the 30 percent target as of fiscal 2023, and the number of firms lacking female executive staff has decreased significantly, from 603 in fiscal 2019 to a mere 68. These trends reflect a gradual yet hopeful trajectory towards achieving gender diversity in Japan’s corporate leadership, underscoring the importance of continued efforts in this vital area of business governance.
Original Source: japantoday.com
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