Japan Exchange Group’s female board ratio remains far below global peers and its own listing rule goal, highlighting the country’s struggles with gender equality at the top of businesses.
The company that manages the world’s third largest stock market only has a female board ratio of 13%, a level that’s less than half the average of global peers. It remains one of the worst among 26 major exchanges, according to data compiled by Bloomberg. Only Chile, India and Argentina score lower.
“We have to be the role model among listed companies, so we will try to fulfill the requirements way before the 2030 deadline,” said Hiromi Yamaji, chief executive officer of Japan Exchange Group Inc. in an interview with Bloomberg last month. Only 3.7% of Prime Market companies have reached that threshold, the Nikkei newspaper reported last month. JPX’s board now has two women out of 16 board members. Share prices have risen 37% so far this year, outperforming the 25% gains in the broader Topix Index.
While foreign investors have credited TSE’s corporate governance reform as one of the key drivers for Japan’s world-beating market rally this year, Yamaji told Bloomberg that there is more room for improvement. He said there has been “less than expected” progress on gender diversity, and the focus also needs to shift beyond just numerical targets.
France Dernières Nouvelles, France Actualités
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