Population

As of October 1, 2023, Japan’s population was approximately 124.35 million, marking a decline for the 13th consecutive year. Notably, the number of individuals aged 80 or older has surpassed 10% of the total population for the first time. This demographic shift poses challenges such as labor shortages and increased social security costs.

Labor Force

In 2023, Japan’s labor force comprised about 69.3 million individuals. To address labor shortages stemming from its aging population, Japan is encouraging higher workforce participation among women and the elderly. Additionally, the government is promoting initiatives like the adoption of a four-day workweek to improve work-life balance and attract more individuals to the workforce.

Major Companies

Japan is home to numerous multinational corporations across various industries. Some of the largest publicly traded Japanese companies by number of employees include:

• Toyota Motor Corporation: A leading automotive manufacturer with approximately 372,817 employees.

• Hitachi Ltd.: A diversified conglomerate operating in sectors like information technology, infrastructure, and electronics, employing around 368,247 individuals.

• Honda Motor Co. Ltd.: Another major automotive company with a workforce of about 204,035.

• Panasonic Corporation: Specializing in electronics and home appliances, Panasonic employs approximately 240,198 people.

• Sony Group Corporation: A global leader in electronics, gaming, and entertainment, with around 111,700 employees.

These companies play a crucial role in Japan’s economy and have a significant impact on global markets.

Japan’s demographic trends and labor dynamics continue to influence its economic strategies and policies as the nation adapts to an evolving global landscape.