TOKYOMay 20th (Kyodo– A survey of major Japanese companies found they offered the highest monthly pay increases in 32 years of more than 5 percent during spring wage negotiations as many sought to respond to higher prices while avoiding brain drains, the country’s largest business lobby said . Monday.
Initial wage increases showed an average increase of 5.58 percent, the highest since comparable data became available in 1992 and equivalent to 19,480 yen ($125) per month, according to the Japan Business Federation, also known as Keidanren.
The government led by Prime Minister Fumio Kishida has increased pressure on companies to offer wage increases to create a virtuous cycle of wage and price increases as the country finally tries to emerge from chronic deflation.
…read more
