Japan’s Financial Services Agency (FSA) will mandate listed firms to disclose the ratio of women in managerial positions as it reeks to further raise the glass ceiling.
According to The Asahi Shimbun, the FSA plans to start asking the listed companies to include the information in their financial statements for next year at the earliest, as well as considering mandating the disclosure of gender gaps in wages.
The publication highlighted that the new rules are being discussed by the agency’s task force which pointed out investors are ‘increasing willing to only back companies where gender equality is the norm’.
Other members of the agency urged the FSA to require listed firms to disclose their targets of appointing women to managerial posts or efforts to achieve those goals.
The internal affairs ministry of Japan previously reported a survey that showed women accounted for 13.3% of managerial positions in firms in Japan in 2020. This compared derisorily when measured against 30-40% in many European countries and the US.
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