TOPICS
DE&I
Dialogue between
JIC CEO Keisuke Yokoo and Prof. Matsuzaki
From 2023, JIC Group began positioning DE&I as an important management strategy due to its ability to stimulate productivity, profits, and innovation. In 2024, JIC Group revised its Code of Conduct for executives and employees, and is promoting DE&I under the slogan of “An organization that respects diverse individuality.” JIC CEO Keisuke Yokoo recently sat down with Prof. Ichiyo Matsuzaki of the occupational and aerospace psychiatry group, University of Tsukuba faculty of medicine, for a conversation about “diversity.”
Why promote DE&I?
Yokoo We consider DE&I promotion to be one of our most important management strategies.
Last December, we addressed a long-standing issue by establishing “promoting the active participation of women” in the Japanese fund industry as an immediate overall goal. We believe that industry-wide promotion of DE&I is essential for accelerating innovation in Japan, and we hope to contribute to the development of Japan’s startup ecosystem by strengthening JIC initiatives from the perspective of women’s empowerment.
When it comes to DE&I promotion, we recognize that diversity is extremely important, but we also acknowledge that it is an issue that is progressing very slowly.
What is your perspective on the importance of diversity, Prof. Matsuzaki?
Matsuzaki This is data from overseas, but when comparing the top 25% and bottom 25% of companies in terms of gender diversity among 366 listed companies in the UK, US, Canada and Latin America, the data shows that companies with gender diversity have a 15% higher financial return.
In addition, when comparing the top 25% and bottom 25% of companies in terms of ethnic and racial diversity, the results show that companies with greater diversity have a 35% higher financial return.
Matsuzaki In addition, survey data based on the US census shows a positive correlation between diversity and productivity in industries where creative decision-making and communication are important—such as law, medicine, insurance and finance.
Yokoo JIC Group is in the financial sector, so it's clear that diversity is important.
The Seeds of Diversity and Creativity
Yokoo Our company was a temporary organization with a remit up to 2035, but last year the Industrial Competitiveness Enhancement Act was revised and our term was extended to 2050.
As a company, we are going to be in existence for almost a quarter of a century. As such, the biggest theme for management is how to think about being a company rather than simply an organizational entity for a single fund. In other words, how do we create and establish a corporate culture and environment. I believe that a company's corporate environment and corporate culture shape the company's values, but if a corporate environment has not been established, then it will be difficult to attract talent because people will not know what kind of values the company has.
It is necessary to establish a corporate environment for younger generations, such as millennials and Gen Z, who will make up the core group of human resources at companies in years to come.
Matsuzaki We also need to pay attention to diversity between generations. Today’s young people grew up in an environment where well-developed internet access was a given. It can be said that the amount of information available has a significant impact on human values and values toward work.
In addition, ensuring psychological safety is a prerequisite for promoting diversity within a company. If this is not done, then there won’t be an environment in which potential issues can be discussed, and this will hinder innovation.
Looking at it from the opposite viewpoint, if a workplace does not have psychological safety—for example, if it is a workplace environment where harassment occurs—then creativeness will disappear and the organization will smother the seeds of creativity in the next generation.
Some companies are actively working on this issue, for example by setting up a Speak Up Month.
Yokoo As a company, if we can create an environment where anyone can speak up, then we can identify potential problems and work towards solving them.
Thank you for your time today.