Board Diversity Across Markets: A U.S.–Japan Investor Dialogue

Presented by Invest Ahead and 30% Club Japan Investors Group

Japan and the United States are both at pivotal—but strikingly different—moments for board diversity:

• In Japan, companies face growing expectations to make swift, measurable progress on gender representation as part of a broader transformation in corporate governance.
• In the United States, investors and other advocates are working to sustain progress in an increasingly adversarial political and regulatory environment.

This trans-Pacific dialogue will examine how market leaders in both countries are responding—and what each can learn from the other.

Featuring:

Hitoshi Hirokawa, Managing Director of the ESG and Stewardship Department, Government Pension Investment Fund, Japan

Natsumi Yamawaki, Senior Manager, Listing Department, Tokyo Stock Exchange

Caroline A. Crenshaw, former Commissioner, U.S. Securities and Exchange Commission

Lynn Paquin, Portfolio Manager, CalSTRS

Moderated by: Masaru Okubo, Senior Stewardship Officer, Sumitomo Mitsui Trust Asset Management

Drawing on their experience in regulation, market reform, institutional investment and corporate engagement, the speakers will explore:

• How investors in each market establish the governance and investment rationale for board diversity
• The factors shaping corporate support for—and resistance to—board diversity in each market
• How Tokyo Stock Exchange reforms are influencing board and leadership composition at Japanese companies, and what the 2030 female-representation goal means in practice
• The structural, cultural and pipeline challenges affecting board appointments in Japan—and the ongoing effort to expand diverse board representation in the United States
• What U.S. investors expect from Japanese portfolio companies
• How the U.S. regulatory landscape for board diversity is likely to evolve
• What Japanese and U.S. market participants can learn from one another

Attendees will gain firsthand insight into how regulators, exchanges and major asset owners are approaching board diversity—and the practical opportunities and obstacles shaping progress on both sides of the Pacific.