Nikko Asset Management announced last month its support for the ongoing movement to recognize marriage equality for lesbian, gay, bisexual and transgender (LGBT) individuals across Japan.

As one of the first activities related to pursuing the recognition of marriage equality, Nikko AM has supported American Chamber of Commerce in Japan’s (ACCJ) viewpoint on marriage equality, which recommends Japan extends “the right to marry LGBT couples”, according to a statement from the firm.

Several other cambers of commerce and at least 100 companies in Japan have also upheld ACCJ’s viewpoint.

Japan is the only country in the G7 that does not legally recognize marriage equality, which has become an expanding and irreversible global trend. In addition, although various municipalities and prefectures in Japan already recognize “partnership certificates”, Nikko AM believes that marriage equality will positively impact Japan’s image as an open-minded and diverse place to work.

“This will make the country more competitive in attracting global talent, and this diversity, in turn, unlocks more possibilities for the business community,” the firm said in a statement.

Nikko AM has continuously strived to create a more inclusive workplace and community as part of its ongoing pursuit of diversity and inclusion. For example, since the founding of its LGBT Working Group in 2017, the firm has hosted several internal seminars to boost employees’ understanding of LGBT issues.

Externally, the firm has also led and participated in collaborative initiatives and events, such as the annual Tokyo Rainbow Pride, Japan’s biggest LGBT festival.

Nikko AM has also redefined “spouse” in the firm’s internal rules to offer the same benefits to employees with same-sex partners, according to the statement.