Japan to mandate firms with over 300 workers to disclose gender pay gap
Japan is looking at requiring firms to disclose the gender wage gap between male and female workers, aligned with Prime Minister Fumio Kishida’s New Capitalism plans.
A key government panel had outlined the policy in proposals, and the plan is likely to be approved by the cabinet in early June, reports Bloomberg. The proposal calls for wages to be raised across the country and highlights that Japan’s gender pay equality lags other advanced nations.
The policy will apply from this summer onwards to businesses with over 300 employees, regardless of whether the firms are publicly listed or not. Companies will not have to publish how much their workers earn, only the difference in wages between male and female workers.
In the future, companies employing 101 to 300 workers will also be considered for mandatory disclosure. Women in Japan earn 77.5% of what men do, far below the Organisation for Economic Cooperation and Development average of 88.4%.