By Hideyuki Sano A new crop of leaders that rose through the ranks of corporate Japan in the aftermath of its economic bubble looks set to advance governance reforms that are key to further gains in the stock market.
A new crop of leaders that rose through the ranks of corporate Japan in the aftermath of its economic bubble looks set to advance governance reforms that are key to further gains in the stock market.
Unlike the CEOs who came of age at a time when corporate Japan was seen as a role model, many of the new crop were in junior roles as the nation’s economic miracle unraveled. They’re now seeking out new ways of doing things, including embracing investor-friendly ideas that increase returns. The 45 percent turnover in Japanese CEOs since early 2021 compares with 36 percent in the US, and 42 percent in Europe, according to data compiled by Bloomberg.
JPMorgan said it’s focusing in particular on commitments to reduce net cash at Recruit Holdings, which has been run by Hisayuki Idekoba since April 2021, who at 49 is one of the younger Topix CEOs. Isetan Mitsukoshi also stands out for its profit growth upgrades, JPMorgan said. Of course age is far from being the only factor in leadership diversity as well. Japan is hugely lagging other major markets when it comes to female CEOs.
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