Japanese 'sea women' dive into tradition as numbers dwindle


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Bearing torches that light up the night as they swim out into the Pacific, Japan's storied "ama", or "women of the sea", pray for an abundant catch in a ceremony held by these female free divers for decades.

This year, however, most of the 80 white-clad women in Minamiboso, about 100km south of Tokyo, were volunteers, as age and disinterest cause the number of ama to dwindle in the fishing community.

Japan has the world's oldest population and last year the number of female free divers fell to 40 in the Shirahama district of Minamiboso, down 70 per cent from 2006, a local fisheries co-operative says. The group had an average age of 72 in 2023, compared with 68 in 2006.

"Those who still go out to sea are getting rather old. We have managed to keep the festival going by asking people in this area and beyond for co-operation," says Shoichi Iida, who has helped to organise the event for years.

The ama still follow their centuries-old traditions and dive to fish without any scuba gear or air tanks. Many say the work is hard and promises little pay, with few young women keen to keep the tradition going.

"This is not the kind of job on which you can make instant money," said Yoshino Hirano, who has worked as an ama for 16 years.

But not everyone is dissuaded from joining the group. Ayumi Inoue, 51, trained to become an ama three years ago.

"I grew up seeing older women working as ama and found the smiles on their sun-tanned faces very attractive and cool," she says. "Seeing the number of ama divers dwindling, to be honest, makes me sad."

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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

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Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

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“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

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Company name: Dharma

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Investors: Convivialite Ventures, BY Partners, Shorooq Partners, L& Ventures, Flat6Labs

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