Disclosure Regarding Appointment of Women to Managerial Positions Following Revision of CG Code

Disclosure based on public comments and examples


October 06, 2021

  • Taisei Watanabe


◆The revision of the Corporate Governance Code (CG Code) added supplementary principle 2.4.1, which requires listed companies to promote women, foreign nationals, and midcareer hires to middle managerial positions. The revisions are as follows: (1) policies about diversity in the promotion of core human resources, (2) voluntary and measurable goals, (3) current status and progress toward the targets of appointment, and (4) disclosure of policies and implementation status regarding human resource development and in-house environment development for securing diversity.

◆In this report, we summarize what specific disclosures are expected regarding, among other things, the promotion of women to managerial positions, in particular, with reference to the report on corporate governance and the efforts of each company under the act on promotion of women's participation and advancement in the workplace. The relevant government document is as follows: Summary of Public Consultation on Revisions to Japan’s Corporate Governance Code and Guidelines for Investor and Company Engagement by the Tokyo Stock Exchange and the Financial Services Agency, Corporate Governance Reports by listed companies, and action of companies based on the Act on the Promotion of Female Participation and Career Advancement in the Workplace, etc.

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