Nomura Global Sustainable Finance Conference
Description
Japan’s style of capitalism, sometimes referred to as Gapponshugi or stakeholder capitalism is the antithesis of the US-led shareholder-first model espoused by Milton Friedman and many Western policymakers. Academic studies in the 1970s and 19080s identified that Japanese companies often put the interests of employees, suppliers, customers and society ahead of shareholders. Investors often cited this practice as a reason for avoiding Japanese equities as an asset class post the country’s stock market bubble of the late 1980s. It appears that Japan’s style of doing business is now back in vogue. Leading global investors have encouraged portfolio companies to prioritize employees over shareholders during the current COVID-19 pandemic. This panel discusses how Japan’s model of capitalism is more oriented to employees and society than that of other countries. We discuss how investors struggle to define the “S” in ESG and offer some ideas around how to measure best practice.
Speakers
Jim McCafferty - Head of Asia Research, Nomura
Dr Peter Matanle - Senior Lecturer in Japanese Studies, The University of Sheffield
Chie Toriumi, Head of Content Company and Sustainability Development, Nomura
Linda Zeilina - CEO, ISFC
Event website: https://nomuraevents.com/