30% Club Japan Holds the 14th TOPIX CEO Meeting

30% Club Japan (Chair: Takayuki Morita, NEC Corporation), which aims to increase the proportion of women in executive positions in Japanese companies, held the 14th meeting of the 'TOPIX CEO Meeting (hereinafter, CEO Meeting)' on May 25, 2026, as part of its initiatives. The community consists of members from TOPIX 100, TOPIX Mid 400, etc. (*1).

This was the first meeting since Takayuki Morita assumed the Chair of 30% Club Japan and the TOPIX CEO Meeting. Previous CEO Meetings discussed not only female appointments to boards of directors but also accelerating female appointments to executive officers and line managers, which are decision-making layers in companies. In fiscal 2025, the proportion of female board members rose 2.3 percentage points year-on-year to 25.1% for TOPIX 100 companies, and 2.2 percentage points to 27.1% for CEO Meeting participating companies, leaving only 2.9 percentage points to reach the 30% target set by 30% Club Japan.

At this 14th meeting, the goals and activity policies for the third term were shared, and a case presentation titled 'Management That Leverages People – The Essential Challenge of Gender Equality' was given by Yuki Kusumi, Representative Director, President Executive Officer, Group CEO of Panasonic Holdings Corporation. Additionally, Tokyo Governor Yuriko Koike gave a lecture titled 'Women in Action' on Tokyo's measures to promote women's active participation.

From this meeting, Toyota Motor Corporation participated for the first time in the automotive industry, expanding the CEO Meeting's member companies to 35 across 15 industries. With 21 members from 21 companies (*2), active discussions were held on further accelerating female appointments to executive officers and line managers, corporate culture reform, and changing male awareness.

The main discussion points at this meeting were as follows:

Third Term Goals and Activity Policies

・Overall goal: Achieve a 30% female ratio on the boards of TOPIX CEO Meeting participating companies by the end of the third term (fiscal 2027).

・Individual company goals: Each company sets target values for executive officers and equivalent positions under a five-year roadmap through 2030.

・New features for the third term: Joint goals with investor groups (medium- to long-term corporate value expansion through investor perspectives) and with university groups (career development and gender equality through collaboration between companies and universities).

Current Status and Challenges of Female Appointments

・The proportion of female board members is steadily rising among CEO Meeting participants, progressing toward the goal. Appointments are progressing mainly for outside directors.

・On the other hand, female appointments on the execution side are growing more slowly than on the board, and there remains a gap across the entire decision-making layer. While executive officers and line managers are improving, line department heads are lagging.

・Building a pipeline for the execution layer is a structural issue, and it is important to review conventional appointment methods and continue efforts to accelerate appointments.

'Management That Leverages People – The Essential Challenge of Gender Equality'

・Gender equality should be viewed not as a 'women's measure' but as a core agenda questioning whether management is truly leveraging people.

・Unconscious biases, such as limiting opportunities without confirming the individual's intent due to childcare or nursing care constraints, can undermine growth opportunities.

・Returning to basic management policies, linking action guidelines (Panasonic Leadership Principles) with evaluations and 1-on-1 meetings, and promoting challenge and growth based on cultural transformation principles.

Significance of 'Full Participation' of Diverse Talent and Numerical Targets

・Position as 'gender equality' rather than 'women's empowerment,' and break down goals to the entire company and individual business units.

・Ensuring diversity in decision-making allows individuals to be heard, and diverse perspectives contribute to corporate value enhancement.

・Numerical targets and engagement indicators are effective for visualizing the current state and deepening discussions.

・Combining high targets with accelerated measures involving a convincing selection process is necessary.

Tokyo's Efforts: 'Women in Action'

・Promote empathy-driven policies with a people-first approach to metropolitan governance.

・Implement seamless support measures including marriage and childcare support.

・The intent of the 'Tokyo Metropolitan Ordinance to Promote Women's Active Participation in Employment and Work' (voluntary efforts by businesses, elimination of unconscious bias, respect for individual will) and develop a supporting environment rather than force.

・Promote measures to encourage men's participation in childcare (e.g., 'childcare leave' reframed positively as 'childcare work').

Finally, the 14th CEO Meeting concluded with a confirmation to further accelerate female appointments in decision-making layers under the third-term goals and activity policies. As 30% Club Japan, we will deepen understanding of the essential issues hindering women's active participation in Japanese companies through collaboration among companies, investors, and universities, and promote qualitative transformation for the growth of Japanese companies. The 15th meeting is scheduled for November 2026.

[Discussion Scenes]

30% Club Japan Chair Takayuki Morita (NEC Corporation)　　　　　　　　　　　Venue scene

(*1) 30% Club Japan consists of presidents, chairpersons, board chairs, or equivalent positions.

(*2) Participants of the 14th 30% Club Japan 'TOPIX CEO Meeting' (in Japanese syllabary order)

Ajinomoto Co., Inc. Director, Representative Executive Officer President & CEO Shigeo Nakamura

INPEX Corporation Representative Director, President Takayuki Ueda

Shiseido Company, Limited Director, Representative Executive Officer, President & CEO Masaki Fujiwara

Shimizu Corporation Representative Director, Chairman Kazuyuki Inoue

Dai-ichi Life Group, Inc. Representative Director, President & Group Chief Executive Officer Tetsuya Kikuta

Daiwa Securities Group Inc. Representative Executive Officer, President & CEO Akihiko Ogino

TV Asahi Holdings Corporation Representative Director, President Hiroshi Shinozuka

Dentsu Group Inc. Director, Representative Executive Officer, President & Global CEO Hiroshi Sano

Toyota Motor Corporation Vice Chairman, Chief Industry Officer Koji Sato

Nippon Suisan Kaisha, Ltd. Representative Director, President Executive Officer Akira Tanaka

NEC Corporation Director, Representative Executive Officer, President & CEO Takayuki Morita

Nippon Yusen Kabushiki Kaisha Representative Director, President Takaya Soga

Nomura Holdings, Inc. Representative Executive Officer, President & Group CEO Kentaro Okuda

Panasonic Holdings Corporation Representative Director, President Executive Officer, Group CEO Yuki Kusumi

Hitachi, Ltd. Representative Executive Officer, President & CEO Toshiaki Higashide

Mizuho Financial Group, Inc. Director and President & Group CEO (Representative Director) Masahiro Kihara

Mitsubishi Electric Corporation Representative Executive Officer, President & CEO Kei Uruma

Meiji Holdings Co., Ltd. Representative Director, President & CEO