Eye On Asia | Japan needs to shine a light on gender pay gap to fight inequality at work
- The issue is at the heart of many of Japan’s societal problems, making it vital for the government to act
- Mandating that employers disclose their gender pay gap data would act as a wake-up call, enabling women to become their own agents of change
In Japan, women make 77.5 cents for every dollar men earn when comparing median hourly pay for full-time work. Among advanced economies, Japan ranks second from last against an average of 87.2 cents, meaning in practice that Japanese women must work over a quarter of a year more than their male colleagues to earn the same pay.
The Tokyo Stock Exchange implemented its biggest revamp in more than 60 years in April. A long-awaited restructuring has seen its market segments simplified into three new sections, from the original five.
The reform aims to consolidate the segments into distinct, easy-to-understand categories and in doing so lift governance and transparency standards for listed companies. This has been hailed as a once-in-a-generation shift, with market reform promoting corporate reform. Will it move the needle?
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China tackles challenges posed by its ageing population
