30 Pct of Japan Big Firms Have Female Presence in Management

Tokyo, July 7 (Jiji Press)--Fully 30 pct of Japan's top 500 companies in terms of market capitalization now have female representation in their top management, a Jiji Press survey found. A total of 152 companies have at least one female board member or auditor, with the combined total of such women reaching 192, or 2.6 pct of the total board members and auditors at the 500 companies. The survey covered companies listed on the Tokyo Stock Exchange's first section whose business years end in December, January, February or March. The results for fiscal 2014 that began in April represented a slight improvement from the previous year, when 23 pct of the surveyed firms had a female presence in the top management. That year, women accounted for 2.0 pct of all board members and auditors at the surveyed companies. In a 2013 survey, carried out by U.S. research firm GMI Ratings, the proportion of companies with female representation on their boards averaged 63 pct in 45 countries, with women accounting for 11 pct of all board seats. The Japanese results were far below than the international average. In addition, Japan relies heavily on people invited from outside the companies, who accounted for 88 pct of all female board members or auditors at the 500 Japanese companies. Among the 500 firms, Bridgestone Corp. <5108> and Lawson Inc. <2651> ranked top in terms of the number of women in the top management. Each had three female board members and one auditor. Thirty-six companies invited women for the first time to join the top management. Mizuho Financial Group Inc.'s <8411> board is chaired by Hiroko Ota, professor at the National Graduate Institute for Policy Studies, while at food maker Kagome Co. <2811>, Miyo Myoseki, president of seasoning maker Marutomo Co., serves as board member. Under the revised economic growth strategy announced by Prime Minister Shinzo Abe last month, the government will oblige major companies to disclose information on female representation in management. The latest survey found that 23 companies, including Nippon Telegraph & Telephone Corp. <9432>, disclosed such information voluntarily, up from eight companies in the previous year. Female representation in the top management of Japanese companies "still remains very low," Mariko Kawaguchi, analyst at the Daiwa Institute of Research, said. "But I can see signs of efforts by companies in the fact that (female representation) increased from the previous year." The revised growth strategy "will serve as a tailwind," she added. END