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While the spirit of the rule is admirable, the short timeframe for implementation combined with the extensive work needed to comply means the 2023 proxy season will become a heavy lift for many companies, said Nathan O’Connor, managing director at Equity Methods.

According to Reuters , raising wages are a key step in Japanese Prime Minister Fumio Kishida’s plan to help lift and sustain consumer spending in the world’s third-largest economy.

., greater pay process transparency), and lifting restrictions on employees’ ability to talk about their pay (i.e., greater pay communication transparency).