As part of our Human Capital Strategy for improved longer-term corporate value, we are promoting enhanced roles for women as a key policy.
Although we set a target of a 10% female manager rate by FY2025, we unfortunately stopped short at 9% (though still 0.7% up on the previous FY). Key factors behind this include: a relatively low number of women recruited in previous years, leaving the pool of female managerial candidates insufficient as of yet; and inadequate long-term planning for female talent to be trained and appointed to managerial roles.
Based on the issues going forward, we have extended our target year until FY2028 under the Medium-term Management Plan, and further enhanced our initiatives to achieve the 10% female manager rate by that deadline. We have also taken a unified approach to each process of recruitment, development and appointments as we tackle the enhancement of the management pipeline as a key issue.
Recent initiatives have brought new development policies aimed at widening the female manager talent pool, and strengthened measures to support work-family balance, contributing to progress in improving the ratio of female managers by the end of March 2025. Specific initiatives for FY2025 have included a career support program for female management candidates, and promoting the building of external networks and broadening of horizons through participation in Keidanren-led training. Furthermore, a focus on recruiting a more diverse array of talent has seen female graduate hires rise by 4.5%.
We will now move forward with the following multi-pronged approach. Firstly, implementing initiatives aimed at increasing the proportion of female applicants for both new graduate and mid-career recruitment. Secondly, creating opportunities for employees, including managers and fixed-term contract employees to transform their thinking on the relevant issues. Thirdly, recognizing female managerial candidates as key talent and systematically advancing initiatives aimed at selection, development, deployment and appointment. Fourthly, utilizing a talent management system to better visualize our pool of female management candidates, expand development opportunities, and properly manage progress. Fifth, building a home working system that supports a work-family balance. Sixth, reducing concerns around managerial appointments and offering proper career support through expanding opportunities for dialogue and consultation. And finally, with a view to improving the effectiveness of work-family support, taking an integrated approach to exploring the promotion of support policies, including provision of creches, based on need, site characteristics, and cost-benefit analysis. Through the above do we aim to boost our female manager rate through accelerating the early development and appointment of female talent, improve decision-making diversity, and deliver sustainable improvements to corporate value.
