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1、TableofContentsExecutivesummary:Womenomicsisworking,butstillmoretodo3WhyWomenomics?Theeconomicandbusinesscase4Progresssince199912Areasforimprovement20Notimetowaste:Recommendationsforgovernment,corporations,society31Tailwinds:ESGandshiftingmillennialattitudes42Dis
2、closureAppendix47Note:Thefollowingisaredactedversionof“Womenomics5.0:20YearsOn”originallypublishedApril16,2019[55pgs].Allcompanyreferencesinthisnoteareforillustrativepurposesonlyandshouldnotbeinterpretedasinvestmentrecommendations.Executivesummary:Womenomicsiswor
3、king,butstillmoretodoTwodecadeshavepassedsincewepublishedourfirstreportonWomen-omics:BuytheFemaleEconomy.1In1999,theterm“diversity”wasneitherpartoftheJapanesevernacular,norafocusforthegovernment,companymanagers,orsociety.Fastforwardto2019,andasaresultofwidespreadl
4、aborshortagesandagrowingeconomy,thereisagrowingrealizationthatgenderdiversityintheworkplaceisnolongeranoption,butaneconomicandbusinessimperative.Tomarkthe20thanniversarysinceourinitialWomenomicsresearch,wetakestockofprogressthusfar,identifyareasforimprovement,and
5、proposeconcreterecommendations.1.What’stheeconomicandbusinessrationalebehindWomenomics?Updatingour2014simulationwherebyJapanesefemalelaborparticipationrisestothatofmales,thepotentialboosttoJapan’sGDPcouldbe10%.However,undera“blue-sky”scenario,ifwealsoassumetherat
6、iooffemalevs.maleworkinghoursrisestotheOECDaverage,theGDPboostcouldexpandfurtherto15%.Forbusinesses,JapaneselistedfirmswithhigherfemalemanagerratiostendtodeliverhigherROEsandsalesgrowth.2.Whatprogresshasbeenseensince1999?Overthepasttwodecades,Japanhas:a)seenitsfem
7、alelaborparticipationratiosurgetoarecord71%—surpassingtheUSandEurope,b)introducedoneofthemostgenerousparentalleavebenefitsintheworld,c)improveditsgendertransparency,andd)approvedworkstylereformsthatmandateovertimelimitsandequalpayforequalwork.3.Whatareasstillneedi
8、mprovement?Areasthatstillneedworkinclude:a)adearthoffemaleleadersinboththeprivate/publicsectors,b)persistentgenderpaygaps,c)inflexiblelaborcontracts,d)taxdisinc
