A 4-day workweek? Japan gives the idea serious consideration
More Japanese lawmakers and businesses are throwing their support behind shorter workweeks to give families more time to take care of children and older family members, as well as to adapt to a world where remote work is increasingly common.
The government's Council on Economic and Fiscal Policy will cover the issue in a discussion Tuesday of measures to encourage the movement of workers into higher-growth fields. Shorter weeks will give employees more time to attend school to gain new knowledge and skills, the thinking goes.
This follows a draft proposal from the ruling Liberal Democratic Party in January calling for three days off a week to be made widely available as an option for workers who want them.
These moves are particularly notable in a country with a corporate culture that has traditionally focused more on time spent at work than results achieved.
The discussion is being driven by concern over a chronically shrinking workforce. Japan's working-age population -- those aged 15 to 64 -- peaked in 1995 at about 87 million and is projected to fall to less than 70 million in 2030, making productivity-boosting measures essential to enable economic growth.
It is also a response to changes to employment brought by the coronavirus pandemic, particularly the rise in telecommuting, that allow for work to be less strictly bound to particular times and places.
The idea of a shorter workweek has gained some traction abroad. In a 2019 survey by the University of Reading, 64% of U.K. companies that had adopted a four-day workweek said their employees were more productive.
New Zealand Prime Minister Jacinda Ardern floated the idea of a four-day week last May. The local arm of consumer-goods titan Unilever there adopted such a policy on a trial basis in December, letting employees work one day less per week for a year with no changes to salary. The multinational will consider adopting the system elsewhere if productivity improves.
Some Japanese companies have already begun taking steps in this direction.
Mizuho Financial Group in December began giving employees at five group companies, including the core Mizuho Bank, the option to work three or four days a week at proportionally reduced pay. The policy, which covers about 45,000 people, aims to offer workers more flexibility to care for family members or go to graduate school, for instance.
News On Japan - Nov 25
Nissan Motor Corporation has announced plans to transition all its vehicles produced in the United Kingdom to electric vehicles (EVs).
News On Japan - Nov 24
The amount of undeclared income by wealthy people in Japan has reached a record high of 98 billion yen, among the worst offenders being scrap gold wholesalers, breeders and yakiniku restaurants, the National Tax Agency announced on Friday.
NHK - Nov 24
Japan's latest inflation figures show prices rose on a broad front in October. The month marked the first time in four months for inflation to accelerate.
NHK - Nov 24
Tokyo has a new landmark, a 330-meter-high skyscraper that opened on Friday. The Mori JP tower has 64 floors for shops, offices and residences. It's the tallest building in Japan, a title that previously belonged to the Abeno Harukas commercial and business tower in Osaka, western Japan.
Reuters - Nov 24
Japanese stocks witnessed massive foreign inflows in the week ended Nov. 17, underpinned by strong corporate earnings and as investors tempered some of their initial enthusiasm about the prospect of a series of U.S. interest rate cuts.
theceomagazine.com - Nov 24
Shitennō-ji temple is one of Osaka’s most important Buddhist temples. Built in the sixth century during the rule of Prince Shotoku, it has stood firm as the high-rises of the modern-day city have towered above it.
News On Japan - Nov 23
Danish pharmaceutical giant Novo Nordisk's anti-obesity drug "Wegovy" is now covered by Japan's public health insurance scheme. Doctor's, however, are concerned about the long-term effects of this highly addictive weight-loss treatment, and whether worldwide supply shortages will stop it getting into the hands of people who need it most.
carscoops.com - Nov 23
Toyota's Chairman and Master Driver Akio Toyota retires from his position as the chairman of the Japan Automobile Manufacturers Association (JAMA) which represents 5.5 million employees from 14 automakers. Toyoda is the only official who led Japan's automotive industry for three two-year terms, being appointed in 2012, 2018, and 2022.
acs.org - Nov 23
Japan’s three biggest chemical companies are seeing their earnings suffer from a slump in basic chemicals. All three experienced a sharp drop in profits in the first half of fiscal 2023, which ended Sept. 30, and one of them, Sumitomo Chemical, is forecasting a loss of $655 million for the full fiscal year.
newsonjapan.com - Nov 23
As the world leans into digital convenience, Japanese companies are not left behind in the digital transformation of payroll processing.
Reuters - Nov 22
Japanese chip materials maker Resonac (4004.T) said on Wednesday it will set up a research and development centre for advanced semiconductor packaging and materials in Silicon Valley.
News On Japan - Nov 22
Toshiba, aiming for corporate restructuring, held an extraordinary general meeting of shareholders on Wednesday, the final step towards delisting from the stock exchange.
Business Mirror - Nov 22
From manga artists to independent taxi drivers, Japanese freelancers and small businesses frustrated with the potential loss of a tax break are among the growing numbers pushing down Prime Minister Fumio Kishida’s approval rating to record lows.
ndtv.com - Nov 22
Tokyo offices are experiencing an unconventional approach to ease workplace stress. At a cost of 7,900 yen, roughly ₹ 4,400, people in Japan can access the services of Ikemeso Danshi, providing attractive companions referred to as "Handsome Weeping Boys."
News On Japan - Nov 21
Private companies are expected to exceed last year's winter bonuses for the third consecutive year, according to four private research firms, with an average payout per person rising between 2.1% to 2.5%.
News On Japan - Nov 20
The Azabudai Hills complex in Tokyo's Minato Ward, which includes Japan's tallest building, was unveiled to the media on Monday ahead of its opening on Nov 24.