Shiseido President Picked as 1st Chief of 30% Club Japan

Economy Society

Tokyo, July 17 (Jiji Press)--The Japanese chapter of the 30% Club, an organization aiming to boost female representation on company boards, said Wednesday that it has selected Masahiko Uotani, president of major cosmetics maker Shiseido Co. <4911>, as its inaugural head.

The 30% Club was first launched in Britain in 2010 to promote the positive effects of female directors on corporate growth. Since then, it has opened chapters in countries such as the United States, Australia and Ireland.

The 30% Club Japan, launched in May this year, aims to increase the share of female board members at the top 100 companies on the Tokyo Stock Exchange's first section from 7.6 pct in 2018 to 10 pct by 2020 and 30 pct by 2030.

The Japanese chapter has 37 members, including executives of listed companies.

Proxy advisory firms, which have influence with foreign asset management companies and institutional investors, have been calling for more female directors on the boards of Japanese companies.

[Copyright The Jiji Press, Ltd.]

Jiji Press