Japan’s boardrooms must be more foreign, female and inquisitive

Financial Times
August 24, 2015

Japan is a place where change takes time. When work first took me there in the 1980s, I came across the suggestion that the way to learn perseverance was to sit on a rock for three years. Afterwards, so said the proverb, you would be able to warm the coldest stone.
Luckily, I was provided with more comfortable seating in the meetings I attended on behalf of the US Securities and Exchange Commission, but I had to display my fair share of patience. My mission was to open up the Tokyo Stock Exchange. I was initially successful, with the Japanese agreeing to change the rules to permit foreign securities firms to buy seats. It would, however, take another three years of passive resistance before three American and three British firms were actually able to take up their places at the exchange.

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