Sumitomo Mitsui Banking Corporation makes it mandatory for male employees to take one month parental leave, offering 50,000 yen in bonuses to employees and their colleagues

Starting this October, Sumitomo Mitsui Bank will require male employees to take a one month child care leave. The employee and their colleagues in the same department will also receive a 50,000 yen bonus. It is rare for a bonus to be given to the entire workplace, including the employee. The system aims to increase the appeal of the workplace by allowing employees to actively participate in childcare, and to create a team in which remaining employees are willing to cover the work.

This applies to all approximately 24,000 employees, and will also be paid to women who take parental leave.

Until now, SMBC has allowed parental leave of up to one and a half years, but has stated that taking parental leave is "recommended." While the rate of male employees taking parental leave reached 100% in fiscal 2023, the average number of days taken was 12 days, which is still low compared to the company's internal target of 30 days, so the bank has begun taking measures.