Fast Retailing, the operator of Uniqlo, has set ambitious goals for internationalization by 2030, aiming for foreign nationals to constitute 80% of its management and 40% of its executive officers. This initiative places Fast Retailing at the forefront of Japanese companies actively integrating global talent at high levels of leadership. As of August 2023, non-Japanese managers already make up 56% of the company’s 2,144 managers, with 19% in executive roles.
The company’s strategic hiring extends globally, with partnerships established with six universities across India and Vietnam, emphasizing the recruitment of IT specialists and MBA graduates. Approximately 700 of the 1,100 new hires in fiscal 2023 were made abroad, reflecting a significant shift towards global talent acquisition.
To support this transition and retain international talent, Fast Retailing has revitalized programs allowing employees to transition across countries and roles, thereby gaining varied experiences critical for leadership roles. Enhanced pay structures in key markets, like China, where salaries increased by up to 40%, and competitive starting salaries in Japan, are part of the company’s strategy to attract top talent.
Moreover, Fast Retailing’s commitment to diversity in leadership mirrors wider movements in Japan, with other major corporations like Hitachi and Mitsubishi UFJ Financial Group also pursuing similar goals. These changes come as Japan seeks to enhance its appeal to global professionals, amidst broader corporate governance reforms encouraging diversity.
