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Japan governance code to urge hiring targets for women and foreign bosses

Revamped guidelines to promote diversity in management as well as on boards

Tellers meet with managers at an Osaka-area bank. Japanese companies will be asked to set targets for women in management. (Photo by Shogo Nakatani)

TOKYO -- Companies in Japan will be encouraged to set voluntary targets for female and foreign managers and provide information on their progress under a revised corporate governance code due out in the spring of 2021.

The change was included in a draft of the new code released Tuesday by a panel commissioned by the Financial Services Agency and the Tokyo Stock Exchange.

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