Tokyo (SCCIJ) – On the occasion of the official visit of Mr. Ignazio Cassis, President of the Swiss Confederation, and a Swiss high-level delegation from the public sector, academia, and business to Japan, the SCCIJ has hosted a special luncheon about the empowerment of women. The two main speakers were Ms. Kathy Matsui (General Partner, MPower Partners) and Ms. Ruth Metzler-Arnold (Chairwoman, Switzerland Global Enterprise). About 100 members and guests of the chamber attended this special luncheon.
Swiss President Ignazio Cassis speaks at the SCCIJ Luncheon in his honor.
Official congratulation
In his introductory remarks, Swiss President Cassis stated that trade had always been at the core of the bilateral relationship between Japan and Switzerland since the first Swiss delegation arrived in Japan in the middle of the 19th century. The 40th founding anniversary of the Swiss Chamber of Commerce and Industry in Japan would be a testimony to this close partnership. “I was glad to learn that the SCCIJ is among the most active chambers in Japan,” the Swiss President said. “I congratulate you on your anniversary and wish you all the best for the next 40 years.”
SCCIJ EC members and advisors with Swiss President Cassis and speakers Ms. Matsui and Ms. Metzler-Arnold.
Gender gaps
Mr. Naoshi Takatsu, Managing Partner, North East Asia at IMD business school, moderated the following panel about the relevance and efforts of integrating and promoting women in the workplace. The starting point were statistical data about the current state of the empowerment of women. According to the Global Gender Gap Index 2021 of the World Economic Forum, Switzerland has reached 80% and Japan 66% of gender parity.
A plea for diversity
Speaker Ms. Ruth Metzler-Arnold, Chairwoman of Switzerland Global Enterprise.
Ruth Metzler-Arnold, Chairwoman of the Supervisory Board of Directors of Switzerland Global Enterprise, the official Swiss organization for export and investment promotion, said that she was pleased with the comparatively high standing of Switzerland and simultaneously concerned. One aspect would be the important role of parties in promoting women, another one to ensure higher female participation in business. “I changed my mind about a legal quota for women in management,” she admitted. One reason: Though many people would talk about diversity, this would not come from their hearts.
Ms. Metzler-Arnold lauded the insurance company AXA for living a culture of diversity through the recruitment of strong female candidates and mentoring programs. Another good supporting effort would be the “Equal Voice Initiative” which encourages journalists to use more female experts for quotes in their articles. “At the same time, men and women alike needed to be aware of their unconscious bias to expect a higher performance from women than men,” she said. At the same time, part-time working men would be looked down upon, thus discouraging them. There were also other elements to support higher female participation in the workforce and leading positions, for example, affordable childcare and the tax system.
Womenomics effect
Speaker Ms. Kathy Matsui, Partner of MPower Partners.
Kathy Matsui, General Partner at the Japanese venture fund MPower Partners, commented that while Japan’s low ranking in the WEF Gender Gap Index is “painful to see,” she added optimistically: “If you are at the bottom, you can only go up.” In particular, she mentioned that less than 10% of all parliamentarians in the Lower House of Japan are women. “How can the nation’s most important law-making body make appropriate decisions if the interests of everyone in society are not reflected?” she asked rhetorically. Regarding female quotas, Ms. Matsui argued that while she advocates quotas in the public sector, there is still not a sufficient consensus in the private sector. However, many companies have instituted diversity targets. “They do not have the same force as quotas, but the management of companies and organizations can be held accountable,” she said.
Ms. Matsui also argued that more diversity in the workforce would be beneficial for the economy. After all, the population of Japan is rapidly shrinking. Therefore, the talents of women should not be wasted. She recounted her famous “Womenomics” study of 1999: If Japan increases its female labor participation rate to the male rate level, Japan’s gross domestic product would increase by 15%. Former Prime Minister Shinzo Abe picked up her idea in 2013 and highlighted gender diversity as an imperative for growth. Before the Covid-19 pandemic, Japan’s female participation rate reached 71%, surpassing the rates in both the U.S. and the European Union. But since many of these jobs are part-time, more needs to be done to boost women in full-time roles to build a pipeline for future leaders, the speaker pointed out.
Almost 100 members and guests of the SCCIJ attended the April Luncheon.
Biography of the speakers
Ms. Ruth Metzler-Arnold served as the Minister of Justice and Police in the Swiss Federal Council (1999-2003) and was Vice-President of the Swiss Government in 2003. She is Chairwoman of Switzerland Global Enterprise, Asteria Investment Managers SA, Fehr Advice and holds various Board chairs and seats in Swiss companies and Foundations. She is Deputy Chairwoman of AXA Switzerland and a Board member of Swiss Medical Network, Clienia Group, and Reyl & Cie. SA.
Ms. Kathy Matsui is a founding General Partner of Japan’s first ESG-integrated global venture capital fund, MPower Partners. She is the former Vice-Chair of Goldman Sachs Japan and Chief Japan Equity Strategist. She was ranked No. 1 in Japan Strategy by Institutional Investor multiple times, and her ground-breaking “Womenomics” research spurred former Prime Minister Shinzo Abe to promote gender diversity as part of the nationʼs growth strategy. She is a highly-regarded corporate governance expert, having advised Japanese companies on global best practices during her 30-year research career.
Text: Martin Fritz for SCCIJ; Pictures: ©Ayako Suzuki for SCCIJ
