September 12, 2019
Since the inauguration in FY2012, the Ministry of Economy, Trade and Industry (METI) and the Tokyo Stock Exchange (TSE) have been jointly conducting the Nadeshiko Brand initiative for the purpose of selecting and publicizing enterprises that encourage women’s success in the workplace.
Following on from the previous years, in the FY2019 initiative, METI and the TSE will not only make a selection of enterprises under the existing Nadeshiko Brands: “Nadeshiko Brands” and “Semi-Nadeshiko Brands,” but will also prepare a “Nadeshiko Challenge List,” aiming to establish a framework through which enterprises are able to call public attention to their proactive efforts for empowering women in the workplace.
Prior to this selection, METI and the TSE will hold a Survey on Enterprises Encouraging Women’s Success in the Workplace from October 7 to November 8, 2019. Based on the results of the survey, METI and the TSE will select successful enterprises as Nadeshiko Brands and the Semi-Nadeshiko Brands and will also publicize the efforts of the successful enterprises broadly to the public through the Report on the Nadeshiko Brands and other means. METI and the TSE are looking forward to seeing the public’s response.
Furthermore, on October 3, 2019, they will hold an explanatory meeting at the TSE and describe the survey and the method of selecting enterprises under the FY2019 Nadeshiko Brands initiative in addition to providing other information.
1. Outline of the Nadeshiko Brands
The Nadeshiko Brand is an initiative aiming to introduce certain TSE-listed enterprises that are outstanding in terms of encouraging the empowerment of women in the workplace as attractive stocks to investors who value the improvement of corporate value in the mid- and long-term, thereby further attracting the attention of investors to such enterprises’ efforts for the empowerment of women in the workplace and further accelerating such efforts by TSE-listed enterprises. METI and the TSE have been conducting this initiative since FY2012.
Specifically, in the initiative, enterprises will first be selected according to the screening criteria, then evaluated based on the scoring criteria for measuring the empowerment of women, and finally, the highest-scoring candidate enterprises will be chosen by sector as Nadeshiko Brands.
The FY2019 Nadeshiko Brands will be announced on March 6 (Fri.), 2020.
2. Key points in selecting FY2019 brands
(1) Outline of the criteria on which the Nadeshiko Brands and the Semi-Nadeshiko Brands are selected
METI and the TSE will select the highest-scoring candidate enterprises for each sector as Nadeshiko Brands.
Specifically, they will select outstanding enterprises as Nadeshiko Brands if:
- candidate enterprises have received the highest scores and met the criteria for a predetermined selection block by for their sector, where one block will be provided per sector, or two if the number of applicable enterprises is relatively large for the sector; or
- candidate enterprises have won higher scores that are close to those of the top enterprise in the same sector and they won a higher rank among all candidate enterprises,
Moreover, METI and TSE will select Semi-Nadeshiko Brands from the highest-scoring enterprises which obtain a score within the top 15% of all candidate enterprises, but which have not been selected as Nadeshiko Brands, irrespective of the sector to which they belong.
(2) Encouraging enterprises to further promote female workers as members of boards of directors
In light of the revision of the Corporate Governance Code and other initiatives, in the FY2018 initiative for selecting Nadeshiko Brands, METI and the TSE set a new screening criterion that requires enterprises to have at least one female member on their boards of directors. METI and the TSE will continue the requirement in the FY2019 initiative. In addition, from the perspective of encouraging enterprises to further promote female workers as members of boards of directors, enterprises that have multiple female board members will be scored higher.
Specifically, in keeping with the governmental goal that listed enterprises should increase the ratio of female board members to 10% or more in 2020, METI and the TSE will give additional points if such enterprises have multiple female board members and if 10% or more of the board members are female.
(3) Increasing the value of corporate governance in evaluations
Following on from the FY2018 initiative, METI and the TSE will score candidate enterprises in selecting Nadeshiko Brands in accordance with the seven key actions shown in the revised Diversity 2.0 Action Guidelines.*
In the FY2019 initiative, they will double the scoring of candidate enterprises in terms of the “reform of corporate governance,” taking into consideration the importance of enhancing the supervisory functions of a board of directors.
The Seven Key Actions for Practice under the revised Diversity 2.0 Action Guideline are: [i] Integrate Diversity into Corporate Strategies, [ii] Provide better information on the Promotion Structure, [iii] Reform Governance, [iv] Improve Company-wide Environments and Rules, [v] Change Behavior and Mentality of Management, [vi] Change Behavior and Mentality of Staff, and [vii] Improve Disclosure and Dialogue. For details, visit the following website:
3. Survey on Enterprises Encouraging Women’s Success in the Workplace, an effort for selecting Nadeshiko Brands
METI will conduct a survey targeting all TSE-listed enterprises, i.e., target enterprises for the screening, to ascertain the current state of such enterprises’ efforts or achievements involving their initiatives for encouraging women’s empowerment in the workplace. METI will select Nadeshiko Brands and Semi-Nadeshiko Brands from the enterprises that have responded to the questionnaire and also select other enterprises that have been engaging in pioneering empowerment initiatives focusing on a specific subject under the Noteworthy Enterprises category.
METI will also provide feedback to all respondent enterprises on helping such enterprises to promote their efforts. To this end, METI strongly recommends that target enterprises submit the response sheets even if some questions are not answered.
Following on from the FY2018 survey, the FY2019 survey will be conducted via the website exclusively for this purpose. On October 4, 2019, METI will send instructions regarding the survey by mail, including an ID, a password and other information, to the personnel department or a department in charge of the empowerment initiatives in all TSE-listed enterprises. The response period is from October 7 to November 8, 2019. For details on the survey, visit the METI website or contact Nikkei Research Inc., to which METI commissioned the project.
Inquiries about the survey:
Personnel in charge: M. Segawa, M. Sasaki and M. Koyama, Nikkei Research Inc.
Telephone: 03-5296-5154 (direct line)
4. Holding an explanatory meeting for the FY2019 Nadeshiko Brands initiative
METI and the TSE will jointly hold an explanatory meeting in order to raise public awareness of the FY2019 Nadeshiko Brand initiative, including information on selection criteria and the implementation of the survey. At the meeting, prior to starting the explanations of the selection method, a guest speaker, Dr. Tetsuo Kitagawa, Emeritus Professor, Aoyama Gakuin University and Project Professor, Tokyo Metropolitan University, will deliver a keynote speech. METI looks forward to seeing many of you there.
Explanatory meeting for the FY2019 Nadeshiko Brands initiative
Date and time:
October 3 (Thur.), 2019; from 13:00 to 14:20 (the reception counter will open at 12:30.)
TSE Hall, second floor of the TSE (2-1 Nihombashi Kabutocho, Chuo-ku, Tokyo)
13:05-13:35: Keynote speech
Speaker: Dr. Tetsuo Kitagawa, Emeritus Professor, Aoyama Gakuin University; Project Professor, Tokyo Metropolitan University
13:35-13:55: Outline of the FY2019 Nadeshiko Brand initiative (METI)
13:55-14:15: Outline of the Survey on Enterprises Encouraging Women’s Success in the Workplace
(Secretariat: Nikkei Research Inc.)
14:15-14:20: Q&A session
Division in Charge
Economic and Social Policy Office, Economic and Industrial Policy Bureau