Companies on the Tokyo Stock Exchange (TSE) that actively promote the employment of women outperform those that don’t, according to a study by the Japanese government and the exchange.
Since April of 2009, an index composed of the stocks of 72 companies known for hiring and promoting women, created for the purposes of the study, has consistently outperformed the Tokyo Stock Price Index (TOPIX), the TSE says.
‘Not only can women quantitatively add to the working population of Japan’s rapidly aging society, but they are also expected to contribute from qualitative perspectives, meaning that empowered female human resources in important positions could help companies achieve and sustain competitive advantages in the future,’ the study authors write.
The study, carried out by the TSE and Japan’s Ministry of Economy, Trade and Industry, selected 72 companies for the sample index that ‘provide environments supporting the long-term employment of women, and which energetically promote active performance of female human resources.’ The companies were selected from each industrial category.
Although the study didn’t say by how much the sample index outperformed the TOPIX, a graph shows it matched or beat the index consistently between April of 2009 and January of this year. Companies selected for the sample index include Nissan, Nikon, Sumitomo Metal Mining, Asahi Glass and others.
Nissan was selected in part because it increased the ratio of female managers in its workforce to 6.7 percent in 2012 from 1.6 percent in 2004, assigns female career advisors to work with female employees and offers networking and training events especially for women.
Nikon was included for allowing two years of child care leave and generally creating a supportive corporate environment for women, while Sumitomo Metal Mining put together a team of eight women devoted to improving opportunities for women in the company.
