1、Since our initial Womenomics report in 1999, Japan now enjoys record female labor participation (71%) that surpasses the US and Europe, generous parental leave benefi ts, improved gender transparency, and labor reforms. Areas for improvement include: a dearth of female leaders, gender pay gaps, infl
2、 exible labor contracts, tax disincentives, insuffi cient caregiving capacity, and unconscious biases. However, the reward for persistence is potentially sizeable. Specifi cally, we estimate that closing the gender employment gap could lift Japans GDP by 10%, and in a “blue-sky scenario” where the r
3、atio of female vs. male working hours rises to the OECD average, the GDP boost could expand further to 15%. No t ime t o wast e: Recommendat ions Suggested government policies include: more fl exible labor contracts, gender pay gap disclosures, tax reforms, parliamentary gender quotas, promotion of
4、female entrepreneurship, and looser immigration rules. For corporations: proactive career management, more fl exible work environments, performance-based evaluations, gender target-setting, and male diversity champions. Society should dispel Womenomics myths, avoid gender role stereotypes in the med
5、ia, and promote more women in STEM. Fortunately, tailwinds such as ESG investing and shifting millennial male attitudes should further advance Japans diversity agenda. Kathy Matsui +81(3)6437-9950 | Goldman Sachs Japan Co., Ltd. Hiromi Suzuki +81(3)6437-9955 | Goldman Sachs Japan Co., Ltd. Kazunori
6、Tatebe +81(3)6437-9898 | Goldman Sachs Japan Co., Ltd. Japan Port folio St rat egy Womenomics 5.0: 20 Years On (Redacted) 18 April 2019 | 8:18AM JST Analysts employed by nonUS affi liates are not registered/qualifi ed as research analysts with FINRA in the U.S. Whats changed, what hasnt; potential 1