August 17, 2025 • 17 mins
🎙️Welcome to another episode of Executive Search in Japan.
In today’s briefing, we explore one of the most sought-after profiles in Japan’s executive landscape: the bilingual Chief Financial Officer. As Japanese companies expand globally and foreign firms deepen their presence in Japan, the demand for CFOs who can operate fluently across cultures, languages, and financial systems has never been higher.
🔍 In this episode, you’ll learn:
- Why the CFO role is evolving in Japan — from financial gatekeeper to strategic business partner
- The rise of bilingual CFOs as essential bridges between Japan’s business culture and global strategy
- How specific sectors like pharmaceuticals, tech, and financial services are leading the demand
- Current compensation trends for CFOs in Tokyo, with salaries reaching ¥35–50 million annually
- The critical role of executive search firms in identifying and vetting this rare talent
- Profiles of notable bilingual CFOs who exemplify the changing face of financial leadership in Japan
Bilingual CFOs are no longer a luxury — they’re a necessity for organizations navigating cross-border growth, foreign investment, and digital transformation. From confidential headhunting to cultural fit, this episode unpacks the high-stakes world of senior finance recruitment in Japan’s globally connected economy.
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Chase Stratton (00:00):
What if the person holding the purse strings
in a company isn't just aboutthe numbers anymore?
What if they're also plottingthe company's entire future,
bridging cultures, maybe evenbecoming the next CEO?
That's the really intriguingshift we're taking a deep dive
into today.
We're exploring the fascinatingand honestly rapidly changing
world of the chief financialofficer, the CFO, specifically
(00:22):
in Japan.
You're about to discover howthis absolutely critical
executive role is transforming.
It's moving from purelyfinancial oversight to becoming,
well, a real powerhouse ofstrategic leadership.
Tessa Sourceley (00:34):
Yeah, and our insights for this deep dive,
they come from quite acompelling stack of sources.
We've drawn from leadingindustry salary guides like
Morgan McKinley's 2025 report,also in-depth analyses from
executive search firms likeMichael Page and Hayes.
We've got academicperspectives, too, from Wharton
at Work and their specializedCFO programs and key
announcements for majorcompanies.
Think Takeda Pharmaceutical,Novartis, those kinds of
(00:57):
players.
Chase Stratton (00:57):
Right.
So our mission today isbasically to unpack the current
landscape for CFOs in Japan.
We'll focus on why bilingualskills are moving from just a
bonus to, frankly, a necessity.
We'll look at which industriesare leading this demand, what
the compensation actually lookslike, and maybe meet some of the
emerging talent shaping thisnew era.
Get ready for some, I think,surprising facts and maybe some
(01:18):
aha moments about one of themost pivotal roles in global
business today.
Let's unpack thistransformation.
Tessa Sourceley (01:25):
Okay.
So traditionally, the CFO,yeah, often stereotyped as just
the number country, right?
Someone largely focused oninternal accounting, compliance,
keeping the books tidy.
What's fascinating now is howquickly that perception is,
well, fading.
It's really changing.
Chase Stratton (01:40):
It truly is a seismic shift.
Our sources are highlightingthis massive transformation.
The CFO role is moving beyondjust keeping the books to
becoming a key strategicpartner, a value integrator.
Think about it.
That IBM global CEO studyactually identified these value
integrators as the highestperforming CFOs.
This isn't just aboutcollecting data anymore, is it?
It's about connecting all thesedisparate pieces, seeing how
(02:04):
everything from market trendsto, say, employee engagement
impacts the bottom line.
Speaker 02 (02:09):
Right.
Chase Stratton (02:09):
It's that aha moment of realizing the CFO
isn't just the scorekeeper.
They're the strategist who seesthe entire playing field.
Tessa Sourceley (02:17):
And that strategic impact, it's so
significant that we're seeing areally clear growing trend.
CFOs are incrediblyincreasingly transitioning into
CEO roles.
It's not uncommon now.
Look at real world examples.
You've got companies like UPS,PepsiCo, Siemens AG, United
Technologies.
Their CFOs ascended to the topspot.
It really suggests that a deepfinancial and operational
(02:39):
understanding is becoming acritical foundation for top
leadership.
Chase Stratton (02:42):
Okay.
So if the CFO is no longer justcrunching numbers, but they're
this strategic powerhouse, whatkind of new toolkit do they
need?
It sounds like success nowdemands a much broader skill
set.
It's almost like a completere-education beyond just
finance.
Tessa Sourceley (02:55):
It really is.
Chase Stratton (02:56):
For instance, 54% of CFOs surveyed named
strategic planning as a topskill.
That's over half.
And 38 percent cited commercialacumen as crucial,
understanding the business, themarket.
Tessa Sourceley (03:09):
And the scope.
It extends even further.
People management, forinstance, acknowledged as vital
by 52 percent of CFOs.
Effective communication is alsokey, especially, you know,
being able to translate complexfinancial knowledge for
colleagues who aren't financeexperts.
Chase Stratton (03:27):
That's a big
Tessa Sourceley (03:27):
one.
Huge.
And modern CFOs, they also needto master data integration and
predictability.
So this means they're not justlooking at past numbers.
They're pulling data from everypart of the business.
Sales, marketing, operations,trying to forecast future
trends, identify risks,basically seeing around corners
for the company.
Chase Stratton (03:46):
Seeing around corners.
I like that.
Tessa Sourceley (03:48):
Yeah.
And this also includesdeveloping effective operational
strategies for risk management,dealing with uncertainty.
Chase Stratton (03:53):
That sounds like a lot of analytical power, a
lot of data.
But what about creativity?
I mean, you're dealing withprecise numbers, yet the world
is increasingly ambiguous, isn'tit?
Tessa Sourceley (04:02):
That's a really perceptive question, actually,
because creativity is nowessential.
It's needed for solving theseincreasingly complex, ambiguous
challenges, especially when datamight be incomplete or, you
know, even contradictory.
It's almost a paradox, right?
Using creativity with harddata.
But surveyed CFOs, theyemphasize the need to, quote,
get involved with the operationsrather than just the numbers.
(04:24):
Thirty five percent said thatand 52 percent stressed being
commercially aware.
And like this isn't just aninternal evolution.
there are external pressures,too, like activist shareholders.
Chase Stratton (04:35):
Oh, yes, those groups pushing for change.
Tessa Sourceley (04:37):
Exactly.
Individuals or groups who buyshares specifically to influence
management, they're alsopushing CFOs towards this more
prominent strategic role.
Chase Stratton (04:46):
So with all this demand for such a multifaceted
executive, how are institutionslike universities or training
programs adapting?
Are they catching up?
Tessa Sourceley (04:55):
Top institutions are definitely
responding.
Wharton, for instance, offers aprogram called the CFO,
Becoming a Strategic Partner.
It's a week-long program,pretty intensive, costs around
$15,000 actually.
And it's specifically designedto help CFOs develop the
strategic mindset.
They teach them to move from,say, linear thinking to managing
multiple scenarios, multiplepossibilities.
Chase Stratton (05:17):
Preparing for uncertainty.
Tessa Sourceley (05:18):
Precisely.
Preparing them for a worldwhere strategies need
flexibility, not just a straightline.
They're offering it, I believe,in October 2025 and May 2026.
Chase Stratton (05:29):
OK, so with this really profound shift in mind,
let's zoom in on Japanspecifically, because the demand
for bilingual CFOs here is,well, it's absolutely on the
rise as companies expandglobally.
It makes Japan a criticalmarket to watch for this trend.
Tessa Sourceley (05:42):
And what's truly compelling is the why.
Why the surging demand forbilingualism in Japan.
Firstly, globalization.
That's a huge factor.
Japan has really stronginternational linkages.
Think about foreign affiliatedcompanies operating there or
Japanese firms dealing withoverseas clients or even
startups attracting foreignventure capital.
Chase Stratton (06:00):
Right.
It's interconnected.
Tessa Sourceley (06:01):
Very.
And secondly, these bilingualCFOs are crucial as a cultural
bridge.
They have to be.
They're the linchpin, you know,connecting the unique nuances
of Japanese business culturewith global financial strategy,
making sure communication andunderstanding flows both ways.
Chase Stratton (06:17):
And crucially, you mentioned this before,
there's a significant talentshortage.
There's a notable scarcity, oursources say, of these bilingual
strategic-minded leaders at theexecutive level in Japan.
So if Finding the right personis a considerable challenge for
companies.
Tessa Sourceley (06:32):
So how do your recruitment firms actually
manage to find these, well,elusive bilingual CFOs given
that scarcity?
Typically, it's throughretained executive search
methods.
These are the top levelsearches, often exclusive
contracts because of theseniority and the
confidentiality involved.
Chase Stratton (06:48):
Makes sense.
Tessa Sourceley (06:48):
And headhunting passive candidates is crucial
because, get this, an estimated80% of Japan's executive
candidates aren't actively jobhunting.
Chase Stratton (06:57):
80%.
Wow.
Tessa Sourceley (06:58):
Yeah.
So headhunters have to makedirect, confidential approaches
to gauge interest.
They tap into extensivenetworks, referrals, trying to
find trusted candidates andensure that crucial cultural
fit.
Chase Stratton (07:11):
That's an incredible proportion, 80
percent passive.
Yeah.
So beyond just networking,these recruitment firms also
maintain their own proprietarydatabases, right?
Full of bilingualprofessionals.
Tessa Sourceley (07:22):
Exactly.
And they vet them thoroughly.
They look at technical skills,leadership acumen, cultural fit,
and of course, their ability tooperate seamlessly in both
Japanese and English businessenvironments.
It's a rigorous process.
Chase Stratton (07:34):
And I imagine speed is important, but so is
keeping things quiet.
Tessa Sourceley (07:38):
Absolutely.
Speed and confidentiality areparamount in these searches.
While they are rigorous, firmsaim to complete them relatively
quickly, often around, say, 12weeks.
There was an example.
One firm, FocusScore, filled aCFO role for Carpigiani Japan
within three months.
So it balances that thoroughvetting with the urgent need to
fill these critical executivepositions discreetly.
Chase Stratton (07:59):
OK, so when we talk about the key players doing
this recruitment in Japan, whoare we looking at?
Tessa Sourceley (08:05):
Well, you have the big global executive search
firms, the household names likeKorn Ferry, Spencer Stewart.
They have strong Japanpresences, known for C-suite
searches.
But you also have major localand specialized agencies, really
prominent in Japan, firms likeRGF Executive Search Japan, JC
Executive, Robert Walters Japan,Michael Page through its Page
(08:26):
executive arm.
Chase Stratton (08:27):
Right, the specialists.
Tessa Sourceley (08:27):
Yeah.
Plus there are these agileboutique firms too, like Apex
KK, Makana Partners, Focus ScoreGroup.
They're often noted for theirdeep local market.
Okay, so we've
Chase Stratton (08:37):
established this demand, how they find them.
Where exactly are these new eraCFOs most needed in Japan right
now?
Which industries?
And the big question, what kindof compensation are companies
offering to attract this,frankly, rare talent?
Tessa Sourceley (08:54):
Well, certain industries are really leading
the charge for bilingual CFOs inthe 2024-2025 timeframe.
Pharmaceuticals and lifesciences, that's a big one.
It's driven by global M&Amergers and acquisitions, R&D
collaboration, navigatingcompliance across different
borders.
Companies like TakedaPharmaceutical, Novartis, for
example, they absolutely needglobal financial leadership to
(09:16):
handle this complex landscape.
Chase Stratton (09:18):
Okay.
Pharma makes sense.
What else?
Tech, I assume?
Tessa Sourceley (09:21):
Definitely.
Technology and digital.
So IT, software, start Right.
The role evolves with the
Chase Stratton (09:40):
industry.
Tessa Sourceley (09:41):
Exactly.
Then there's financial servicesand fintech.
That's financial technologyusing innovation for financial
services.
They're navigating digitalbanking shifts, ESG investing
that's environmental, social andgovernance factors and complex
global regulations.
This creates really high demandfor talent with advanced
knowledge in these specificareas and performance based
(10:03):
compensation.
It's becoming pretty common inforeign financial firms in Japan
to attract this top talent.
Chase Stratton (10:08):
Interesting.
So pharma, tech, finance, Whatabout more traditional sectors?
Manufacturing?
Tessa Sourceley (10:14):
Yes.
Surprisingly, or perhaps notsurprisingly, manufacturing and
industrial sectors are key too.
Think about their globaloperations, overseas
subsidiaries, complex supplychains.
They need that bilingualfinancial oversight.
And even traditional Japanesetrading companies, the Sogo
Shosha, they have a long historyof grooming bilingual staff for
these kinds of roles giventheir international reach.
Chase Stratton (10:35):
Okay, got it.
And maybe retail or services.
Tessa Sourceley (10:37):
Yep.
Finally, consumer goods,retail, and professional
services firms.
especially those that are partof global corporations or have
significant import-exportoperations.
They also frequently appointbilingual CFOs.
So the overall industry trendis pretty clear.
There's a globalization ofleadership happening, more
openness to non-Japanese orinternationally seasoned CFOs,
(10:59):
and the CFO role itself, aswe've said, has expanded.
It now includes strategy,digital transformation, investor
communication, M&A, ESG, evenoverseeing IT systems sometimes.
It's
Chase Stratton (11:09):
huge.
So what does this actuallymean?
for salary.
Let's talk numbers.
According to Morgan McKinley's2025 data, the estimated average
annual salary for a CFO inTokyo is 35,000.
35
Tessa Sourceley (11:22):
million yen.
Chase Stratton (11:23):
Which, just to give you a sense of the scale,
is roughly, what, 225,000 U.S.
dollars at recent exchangerates, give or take?
Tessa Sourceley (11:28):
Yeah, around that mark.
And to put that intoperspective, the salary ranges
can vary quite a bit.
Maybe 25,000 for someone newerto the role, up to 50 million
thousand, or even more forindividuals with vast
experience, really niche skills,or the ability to handle high
Yeah.
Chase Stratton (11:42):
And
Tessa Sourceley (11:45):
these figures, of course, factor in variables
like the specific industry, thelocation within Japan,
seniority.
And while Japan overall hashad, let's say, limited success
accelerating general wageincreases recently.
Chase Stratton (11:57):
Right.
We hear about that.
Tessa Sourceley (11:58):
And inflation, FX rates have kind of reduced
consumer spending power.
Despite all that.
Employers are recognizing thedire need to adjust salaries
upwards for this top tiertalent.
Chase Stratton (12:09):
It sounds like a classic supply and demand
situation in the competitiveglobal market.
Our sources show that, OK, 66percent of organizations kept
their salary bands level in thesecond half of 2023.
However, 55 percent ofemployers plan to increase
salary offers in 2024specifically for those hard to
fill roles.
Tessa Sourceley (12:26):
That's telling.
Chase Stratton (12:27):
And nearly half, 46 percent of professionals are
optimistic about getting anincrease.
So compensation packages forthese high caliber bilingual CEO
They're definitely adjustingupward, often including
performance bonuses, stockincentives, trying to align with
global
Tessa Sourceley (12:40):
standards.
Chase Stratton (12:41):
And just to clarify for listeners, you might
see some recruitment siteslisting finance director roles,
maybe with ranges like 14M to16M yen.
But that's typically a stepbelow the specific CFO average
we cited from Morgan McKinley,which reflects that top finance
executive role.
Tessa Sourceley (12:57):
Okay, so shifting our focus slightly
towards the future, we're reallyseeing a new generation of
bilingual CFOs making their markin Japan.
These individuals, they kind ofpersonify the evolving demands
of the role we've beendiscussing.
Chase Stratton (13:09):
Yeah.
Let's spotlight a few.
These are some interestingprofiles.
Take Milano Furuta.
He was appointed CFO of TakedaPharmaceutical, Japan's largest
pharma company, effective April2024.
He has a Wharton MBA, extensiveglobal experience roles in the
U.S., Mexico, Sweden.
Wow.
He previously led Takeda'sJapan Pharma Business Unit,
played a big role in theirglobal expansion.
(13:31):
He seems like a prime exampleof this global mindset needed
now.
Tessa Sourceley (13:34):
Absolutely.
Then there's MasanoriMasamorikami.
He's the regional CFO for SASInstitute, covering Japan, Korea
and Greater China.
He brings over 30 years ofexperience in analytics and
business intelligence.
He was recognized as one of thetop 10 CFOs in Japan 2023.
His role just perfectlyillustrates those cross-cultural
demands, blending deeptechnical skill with that
(13:56):
essential international reach.
Chase Stratton (13:58):
Also in the pharma space, there's Mayumi
Narita.
She became CFO for Novartis'sJapan operations in She's a
Japanese national.
And crucially, she liaises withthe APAC regional and global
headquarters.
She's that critical bridgebetween local ops and
international strategy.
Tessa Sourceley (14:15):
Right.
And shifting to the tech world,we have Naoya Kanesaka, CFO of
Money Forward, a reallyprominent fintech company,
financial technology.
He has 16 years under his beltin finance and fintech services.
And Yuichi Fujikawa, CFO of GATechnologies, that's a prop tech
company, property technology,disrupting real estate.
He's a former investmentbanker, bringing that
perspective to a rapid And
Chase Stratton (14:35):
here's a really compelling example, I think,
that highlights this innovationaspect.
Musuki Takano.
He's the CFO of a Japanesebiotech startup called Heartseed
Inc.
He was named one of Asia's mostinnovative CFOs to watch in
2024.
Why?
For his innovative fundingstrategies, including global
partnerships with huge companieslike Novo Nordisk.
Tessa Sourceley (14:57):
That's impressive for a startup CFO.
Chase Stratton (14:59):
Truly impressive.
Yeah.
It showcases how crucialfinancial creativity is,
especially in fundraising.
Tessa Sourceley (15:04):
Absolutely.
And just to show this trendisn't only in new industries
like tech or biotech.
Consider Yasuaki Watanabe.
He's the CFO of MarubiniCorporation, a major traditional
Japanese trading conglomerate.
He's known for his expertise ininternational finance, capital
markets, He exemplifies the kindof global leadership needed
(15:25):
even in those establishedsectors.
Chase Stratton (15:27):
You know, what's fascinating about many of these
leaders, the common threads,they often have quite diverse
backgrounds.
Maybe MBAs obtained abroad,stints working in foreign
offices, or cross-industryexperience.
Tessa Sourceley (15:38):
Right, that international exposure.
Chase Stratton (15:40):
Exactly.
It prepares them perfectly forthe complex, multicultural
context they navigate everysingle day.
It's clearly not just aboutlanguage proficiency.
It's a deeper globalunderstanding So wrapping this
up, what does this all mean foryou, our listener?
The key takeaway seems clear.
The modern CFO in Japan isundeniably a strategic,
(16:03):
globally-minded leader.
And bilingualism, it's not justhighly sought after anymore,
it's increasingly an essentialskill.
The market for these roles isrobust, it's growing, and it
demands a whole new breed offinancial executive.
Tessa Sourceley (16:16):
Yeah, this deep dive really highlights how the
very definition of a CFO isexpanding, isn't it?
It's pushing the boundaries oftraditional financial roles into
broader strategic leadership.
And this impacts yourunderstanding of business
leadership, global marketdynamics, whether you're maybe
climbing the corporate ladderyourself or simply aiming to be
well-informed and connect thedots in today's global economy.
Chase Stratton (16:35):
Which leads us to a final thought, maybe
something provocative toconsider.
In a world where the CFO is nowexpected to be this ultimate
value integrator, thiscross-cultural bridge for a
company, we're left with aninteresting question.
What does this expanded scope,this demand for strategic,
bilingual leadership mean forall the other C-suite roles?
Could we soon see every seniorleader needing to embody these
(16:57):
same expansive, maybe evenbilingual capabilities to truly
drive global success in thefuture?
What if the person holding the purse strings
in a company isn't just aboutthe numbers anymore?
What if they're also plottingthe company's entire future,
bridging cultures, maybe evenbecoming the next CEO?
That's the really intriguingshift we're taking a deep dive
into today.
We're exploring the fascinatingand honestly rapidly changing
world of the chief financialofficer, the CFO, specifically
(00:22):
in Japan.
You're about to discover howthis absolutely critical
executive role is transforming.
It's moving from purelyfinancial oversight to becoming,
well, a real powerhouse ofstrategic leadership.
Tessa Sourceley (00:34):
Yeah, and our insights for this deep dive,
they come from quite acompelling stack of sources.
We've drawn from leadingindustry salary guides like
Morgan McKinley's 2025 report,also in-depth analyses from
executive search firms likeMichael Page and Hayes.
We've got academicperspectives, too, from Wharton
at Work and their specializedCFO programs and key
announcements for majorcompanies.
Think Takeda Pharmaceutical,Novartis, those kinds of
(00:57):
players.
Chase Stratton (00:57):
Right.
So our mission today isbasically to unpack the current
landscape for CFOs in Japan.
We'll focus on why bilingualskills are moving from just a
bonus to, frankly, a necessity.
We'll look at which industriesare leading this demand, what
the compensation actually lookslike, and maybe meet some of the
emerging talent shaping thisnew era.
Get ready for some, I think,surprising facts and maybe some
(01:18):
aha moments about one of themost pivotal roles in global
business today.
Let's unpack thistransformation.
Tessa Sourceley (01:25):
Okay.
So traditionally, the CFO,yeah, often stereotyped as just
the number country, right?
Someone largely focused oninternal accounting, compliance,
keeping the books tidy.
What's fascinating now is howquickly that perception is,
well, fading.
It's really changing.
Chase Stratton (01:40):
It truly is a seismic shift.
Our sources are highlightingthis massive transformation.
The CFO role is moving beyondjust keeping the books to
becoming a key strategicpartner, a value integrator.
Think about it.
That IBM global CEO studyactually identified these value
integrators as the highestperforming CFOs.
This isn't just aboutcollecting data anymore, is it?
It's about connecting all thesedisparate pieces, seeing how
(02:04):
everything from market trendsto, say, employee engagement
impacts the bottom line.
Speaker 02 (02:09):
Right.
Chase Stratton (02:09):
It's that aha moment of realizing the CFO
isn't just the scorekeeper.
They're the strategist who seesthe entire playing field.
Tessa Sourceley (02:17):
And that strategic impact, it's so
significant that we're seeing areally clear growing trend.
CFOs are incrediblyincreasingly transitioning into
CEO roles.
It's not uncommon now.
Look at real world examples.
You've got companies like UPS,PepsiCo, Siemens AG, United
Technologies.
Their CFOs ascended to the topspot.
It really suggests that a deepfinancial and operational
(02:39):
understanding is becoming acritical foundation for top
leadership.
Chase Stratton (02:42):
Okay.
So if the CFO is no longer justcrunching numbers, but they're
this strategic powerhouse, whatkind of new toolkit do they
need?
It sounds like success nowdemands a much broader skill
set.
It's almost like a completere-education beyond just
finance.
Tessa Sourceley (02:55):
It really is.
Chase Stratton (02:56):
For instance, 54% of CFOs surveyed named
strategic planning as a topskill.
That's over half.
And 38 percent cited commercialacumen as crucial,
understanding the business, themarket.
Tessa Sourceley (03:09):
And the scope.
It extends even further.
People management, forinstance, acknowledged as vital
by 52 percent of CFOs.
Effective communication is alsokey, especially, you know,
being able to translate complexfinancial knowledge for
colleagues who aren't financeexperts.
Chase Stratton (03:27):
That's a big
Tessa Sourceley (03:27):
one.
Huge.
And modern CFOs, they also needto master data integration and
predictability.
So this means they're not justlooking at past numbers.
They're pulling data from everypart of the business.
Sales, marketing, operations,trying to forecast future
trends, identify risks,basically seeing around corners
for the company.
Chase Stratton (03:46):
Seeing around corners.
I like that.
Tessa Sourceley (03:48):
Yeah.
And this also includesdeveloping effective operational
strategies for risk management,dealing with uncertainty.
Chase Stratton (03:53):
That sounds like a lot of analytical power, a
lot of data.
But what about creativity?
I mean, you're dealing withprecise numbers, yet the world
is increasingly ambiguous, isn'tit?
Tessa Sourceley (04:02):
That's a really perceptive question, actually,
because creativity is nowessential.
It's needed for solving theseincreasingly complex, ambiguous
challenges, especially when datamight be incomplete or, you
know, even contradictory.
It's almost a paradox, right?
Using creativity with harddata.
But surveyed CFOs, theyemphasize the need to, quote,
get involved with the operationsrather than just the numbers.
(04:24):
Thirty five percent said thatand 52 percent stressed being
commercially aware.
And like this isn't just aninternal evolution.
there are external pressures,too, like activist shareholders.
Chase Stratton (04:35):
Oh, yes, those groups pushing for change.
Tessa Sourceley (04:37):
Exactly.
Individuals or groups who buyshares specifically to influence
management, they're alsopushing CFOs towards this more
prominent strategic role.
Chase Stratton (04:46):
So with all this demand for such a multifaceted
executive, how are institutionslike universities or training
programs adapting?
Are they catching up?
Tessa Sourceley (04:55):
Top institutions are definitely
responding.
Wharton, for instance, offers aprogram called the CFO,
Becoming a Strategic Partner.
It's a week-long program,pretty intensive, costs around
$15,000 actually.
And it's specifically designedto help CFOs develop the
strategic mindset.
They teach them to move from,say, linear thinking to managing
multiple scenarios, multiplepossibilities.
Chase Stratton (05:17):
Preparing for uncertainty.
Tessa Sourceley (05:18):
Precisely.
Preparing them for a worldwhere strategies need
flexibility, not just a straightline.
They're offering it, I believe,in October 2025 and May 2026.
Chase Stratton (05:29):
OK, so with this really profound shift in mind,
let's zoom in on Japanspecifically, because the demand
for bilingual CFOs here is,well, it's absolutely on the
rise as companies expandglobally.
It makes Japan a criticalmarket to watch for this trend.
Tessa Sourceley (05:42):
And what's truly compelling is the why.
Why the surging demand forbilingualism in Japan.
Firstly, globalization.
That's a huge factor.
Japan has really stronginternational linkages.
Think about foreign affiliatedcompanies operating there or
Japanese firms dealing withoverseas clients or even
startups attracting foreignventure capital.
Chase Stratton (06:00):
Right.
It's interconnected.
Tessa Sourceley (06:01):
Very.
And secondly, these bilingualCFOs are crucial as a cultural
bridge.
They have to be.
They're the linchpin, you know,connecting the unique nuances
of Japanese business culturewith global financial strategy,
making sure communication andunderstanding flows both ways.
Chase Stratton (06:17):
And crucially, you mentioned this before,
there's a significant talentshortage.
There's a notable scarcity, oursources say, of these bilingual
strategic-minded leaders at theexecutive level in Japan.
So if Finding the right personis a considerable challenge for
companies.
Tessa Sourceley (06:32):
So how do your recruitment firms actually
manage to find these, well,elusive bilingual CFOs given
that scarcity?
Typically, it's throughretained executive search
methods.
These are the top levelsearches, often exclusive
contracts because of theseniority and the
confidentiality involved.
Chase Stratton (06:48):
Makes sense.
Tessa Sourceley (06:48):
And headhunting passive candidates is crucial
because, get this, an estimated80% of Japan's executive
candidates aren't actively jobhunting.
Chase Stratton (06:57):
80%.
Wow.
Tessa Sourceley (06:58):
Yeah.
So headhunters have to makedirect, confidential approaches
to gauge interest.
They tap into extensivenetworks, referrals, trying to
find trusted candidates andensure that crucial cultural
fit.
Chase Stratton (07:11):
That's an incredible proportion, 80
percent passive.
Yeah.
So beyond just networking,these recruitment firms also
maintain their own proprietarydatabases, right?
Full of bilingualprofessionals.
Tessa Sourceley (07:22):
Exactly.
And they vet them thoroughly.
They look at technical skills,leadership acumen, cultural fit,
and of course, their ability tooperate seamlessly in both
Japanese and English businessenvironments.
It's a rigorous process.
Chase Stratton (07:34):
And I imagine speed is important, but so is
keeping things quiet.
Tessa Sourceley (07:38):
Absolutely.
Speed and confidentiality areparamount in these searches.
While they are rigorous, firmsaim to complete them relatively
quickly, often around, say, 12weeks.
There was an example.
One firm, FocusScore, filled aCFO role for Carpigiani Japan
within three months.
So it balances that thoroughvetting with the urgent need to
fill these critical executivepositions discreetly.
Chase Stratton (07:59):
OK, so when we talk about the key players doing
this recruitment in Japan, whoare we looking at?
Tessa Sourceley (08:05):
Well, you have the big global executive search
firms, the household names likeKorn Ferry, Spencer Stewart.
They have strong Japanpresences, known for C-suite
searches.
But you also have major localand specialized agencies, really
prominent in Japan, firms likeRGF Executive Search Japan, JC
Executive, Robert Walters Japan,Michael Page through its Page
(08:26):
executive arm.
Chase Stratton (08:27):
Right, the specialists.
Tessa Sourceley (08:27):
Yeah.
Plus there are these agileboutique firms too, like Apex
KK, Makana Partners, Focus ScoreGroup.
They're often noted for theirdeep local market.
Okay, so we've
Chase Stratton (08:37):
established this demand, how they find them.
Where exactly are these new eraCFOs most needed in Japan right
now?
Which industries?
And the big question, what kindof compensation are companies
offering to attract this,frankly, rare talent?
Tessa Sourceley (08:54):
Well, certain industries are really leading
the charge for bilingual CFOs inthe 2024-2025 timeframe.
Pharmaceuticals and lifesciences, that's a big one.
It's driven by global M&Amergers and acquisitions, R&D
collaboration, navigatingcompliance across different
borders.
Companies like TakedaPharmaceutical, Novartis, for
example, they absolutely needglobal financial leadership to
(09:16):
handle this complex landscape.
Chase Stratton (09:18):
Okay.
Pharma makes sense.
What else?
Tech, I assume?
Tessa Sourceley (09:21):
Definitely.
Technology and digital.
So IT, software, start Right.
The role evolves with the
Chase Stratton (09:40):
industry.
Tessa Sourceley (09:41):
Exactly.
Then there's financial servicesand fintech.
That's financial technologyusing innovation for financial
services.
They're navigating digitalbanking shifts, ESG investing
that's environmental, social andgovernance factors and complex
global regulations.
This creates really high demandfor talent with advanced
knowledge in these specificareas and performance based
(10:03):
compensation.
It's becoming pretty common inforeign financial firms in Japan
to attract this top talent.
Chase Stratton (10:08):
Interesting.
So pharma, tech, finance, Whatabout more traditional sectors?
Manufacturing?
Tessa Sourceley (10:14):
Yes.
Surprisingly, or perhaps notsurprisingly, manufacturing and
industrial sectors are key too.
Think about their globaloperations, overseas
subsidiaries, complex supplychains.
They need that bilingualfinancial oversight.
And even traditional Japanesetrading companies, the Sogo
Shosha, they have a long historyof grooming bilingual staff for
these kinds of roles giventheir international reach.
Chase Stratton (10:35):
Okay, got it.
And maybe retail or services.
Tessa Sourceley (10:37):
Yep.
Finally, consumer goods,retail, and professional
services firms.
especially those that are partof global corporations or have
significant import-exportoperations.
They also frequently appointbilingual CFOs.
So the overall industry trendis pretty clear.
There's a globalization ofleadership happening, more
openness to non-Japanese orinternationally seasoned CFOs,
(10:59):
and the CFO role itself, aswe've said, has expanded.
It now includes strategy,digital transformation, investor
communication, M&A, ESG, evenoverseeing IT systems sometimes.
It's
Chase Stratton (11:09):
huge.
So what does this actuallymean?
for salary.
Let's talk numbers.
According to Morgan McKinley's2025 data, the estimated average
annual salary for a CFO inTokyo is 35,000.
35
Tessa Sourceley (11:22):
million yen.
Chase Stratton (11:23):
Which, just to give you a sense of the scale,
is roughly, what, 225,000 U.S.
dollars at recent exchangerates, give or take?
Tessa Sourceley (11:28):
Yeah, around that mark.
And to put that intoperspective, the salary ranges
can vary quite a bit.
Maybe 25,000 for someone newerto the role, up to 50 million
thousand, or even more forindividuals with vast
experience, really niche skills,or the ability to handle high
Yeah.
Chase Stratton (11:42):
And
Tessa Sourceley (11:45):
these figures, of course, factor in variables
like the specific industry, thelocation within Japan,
seniority.
And while Japan overall hashad, let's say, limited success
accelerating general wageincreases recently.
Chase Stratton (11:57):
Right.
We hear about that.
Tessa Sourceley (11:58):
And inflation, FX rates have kind of reduced
consumer spending power.
Despite all that.
Employers are recognizing thedire need to adjust salaries
upwards for this top tiertalent.
Chase Stratton (12:09):
It sounds like a classic supply and demand
situation in the competitiveglobal market.
Our sources show that, OK, 66percent of organizations kept
their salary bands level in thesecond half of 2023.
However, 55 percent ofemployers plan to increase
salary offers in 2024specifically for those hard to
fill roles.
Tessa Sourceley (12:26):
That's telling.
Chase Stratton (12:27):
And nearly half, 46 percent of professionals are
optimistic about getting anincrease.
So compensation packages forthese high caliber bilingual CEO
They're definitely adjustingupward, often including
performance bonuses, stockincentives, trying to align with
global
Tessa Sourceley (12:40):
standards.
Chase Stratton (12:41):
And just to clarify for listeners, you might
see some recruitment siteslisting finance director roles,
maybe with ranges like 14M to16M yen.
But that's typically a stepbelow the specific CFO average
we cited from Morgan McKinley,which reflects that top finance
executive role.
Tessa Sourceley (12:57):
Okay, so shifting our focus slightly
towards the future, we're reallyseeing a new generation of
bilingual CFOs making their markin Japan.
These individuals, they kind ofpersonify the evolving demands
of the role we've beendiscussing.
Chase Stratton (13:09):
Yeah.
Let's spotlight a few.
These are some interestingprofiles.
Take Milano Furuta.
He was appointed CFO of TakedaPharmaceutical, Japan's largest
pharma company, effective April2024.
He has a Wharton MBA, extensiveglobal experience roles in the
U.S., Mexico, Sweden.
Wow.
He previously led Takeda'sJapan Pharma Business Unit,
played a big role in theirglobal expansion.
(13:31):
He seems like a prime exampleof this global mindset needed
now.
Tessa Sourceley (13:34):
Absolutely.
Then there's MasanoriMasamorikami.
He's the regional CFO for SASInstitute, covering Japan, Korea
and Greater China.
He brings over 30 years ofexperience in analytics and
business intelligence.
He was recognized as one of thetop 10 CFOs in Japan 2023.
His role just perfectlyillustrates those cross-cultural
demands, blending deeptechnical skill with that
(13:56):
essential international reach.
Chase Stratton (13:58):
Also in the pharma space, there's Mayumi
Narita.
She became CFO for Novartis'sJapan operations in She's a
Japanese national.
And crucially, she liaises withthe APAC regional and global
headquarters.
She's that critical bridgebetween local ops and
international strategy.
Tessa Sourceley (14:15):
Right.
And shifting to the tech world,we have Naoya Kanesaka, CFO of
Money Forward, a reallyprominent fintech company,
financial technology.
He has 16 years under his beltin finance and fintech services.
And Yuichi Fujikawa, CFO of GATechnologies, that's a prop tech
company, property technology,disrupting real estate.
He's a former investmentbanker, bringing that
perspective to a rapid And
Chase Stratton (14:35):
here's a really compelling example, I think,
that highlights this innovationaspect.
Musuki Takano.
He's the CFO of a Japanesebiotech startup called Heartseed
Inc.
He was named one of Asia's mostinnovative CFOs to watch in
2024.
Why?
For his innovative fundingstrategies, including global
partnerships with huge companieslike Novo Nordisk.
Tessa Sourceley (14:57):
That's impressive for a startup CFO.
Chase Stratton (14:59):
Truly impressive.
Yeah.
It showcases how crucialfinancial creativity is,
especially in fundraising.
Tessa Sourceley (15:04):
Absolutely.
And just to show this trendisn't only in new industries
like tech or biotech.
Consider Yasuaki Watanabe.
He's the CFO of MarubiniCorporation, a major traditional
Japanese trading conglomerate.
He's known for his expertise ininternational finance, capital
markets, He exemplifies the kindof global leadership needed
(15:25):
even in those establishedsectors.
Chase Stratton (15:27):
You know, what's fascinating about many of these
leaders, the common threads,they often have quite diverse
backgrounds.
Maybe MBAs obtained abroad,stints working in foreign
offices, or cross-industryexperience.
Tessa Sourceley (15:38):
Right, that international exposure.
Chase Stratton (15:40):
Exactly.
It prepares them perfectly forthe complex, multicultural
context they navigate everysingle day.
It's clearly not just aboutlanguage proficiency.
It's a deeper globalunderstanding So wrapping this
up, what does this all mean foryou, our listener?
The key takeaway seems clear.
The modern CFO in Japan isundeniably a strategic,
(16:03):
globally-minded leader.
And bilingualism, it's not justhighly sought after anymore,
it's increasingly an essentialskill.
The market for these roles isrobust, it's growing, and it
demands a whole new breed offinancial executive.
Tessa Sourceley (16:16):
Yeah, this deep dive really highlights how the
very definition of a CFO isexpanding, isn't it?
It's pushing the boundaries oftraditional financial roles into
broader strategic leadership.
And this impacts yourunderstanding of business
leadership, global marketdynamics, whether you're maybe
climbing the corporate ladderyourself or simply aiming to be
well-informed and connect thedots in today's global economy.
Chase Stratton (16:35):
Which leads us to a final thought, maybe
something provocative toconsider.
In a world where the CFO is nowexpected to be this ultimate
value integrator, thiscross-cultural bridge for a
company, we're left with aninteresting question.
What does this expanded scope,this demand for strategic,
bilingual leadership mean forall the other C-suite roles?
Could we soon see every seniorleader needing to embody these
(16:57):
same expansive, maybe evenbilingual capabilities to truly
drive global success in thefuture?
Popular Podcasts
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.
My Favorite Murder with Karen Kilgariff and Georgia Hardstark
My Favorite Murder is a true crime comedy podcast hosted by Karen Kilgariff and Georgia Hardstark. Each week, Karen and Georgia share compelling true crimes and hometown stories from friends and listeners. Since MFM launched in January of 2016, Karen and Georgia have shared their lifelong interest in true crime and have covered stories of infamous serial killers like the Night Stalker, mysterious cold cases, captivating cults, incredible survivor stories and important events from history like the Tulsa race massacre of 1921. My Favorite Murder is part of the Exactly Right podcast network that provides a platform for bold, creative voices to bring to life provocative, entertaining and relatable stories for audiences everywhere. The Exactly Right roster of podcasts covers a variety of topics including historic true crime, comedic interviews and news, science, pop culture and more. Podcasts on the network include Buried Bones with Kate Winkler Dawson and Paul Holes, That's Messed Up: An SVU Podcast, This Podcast Will Kill You, Bananas and more.
The Joe Rogan Experience
The official podcast of comedian Joe Rogan.