The Diet passed a bill Friday aiming to promote the role of women in the workplace, along with greater female participation in the economy at a time when the country's population is expected to shrink further.

The law will oblige companies with 301 or more employees, along with central and local governments, to set numerical targets for the employment and promotion of women. They will also have to disclose this information to the public. Smaller companies will only be required to make efforts to do so.

But the law, which will take effect April 1, does not stipulate mandatory numerical targets, meaning that companies can set their goals after analyzing their current situation.