Keidanren Chairman Masakazu Tokura speaks to the press in Chiyoda Ward, Tokyo.
6:00 JST, June 5, 2024
Masakazu Tokura, chairman of Keidanren (Japan Business Federation), has spoken to the press about salary increases and the appointment of his successor.
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Press: With the largest wage increases in about thirty years and changes in Bank of Japan policy, the situation surrounding the Japanese economy is changing.
Tokura: Keidanren regarded it as our social responsibility and called for maintaining or increasing the momentum of wage increases, and we achieved wage increases that exceeded last year’s, which was an all-time high. However, in order to achieve wage increases on a structural basis, it is important that small and medium-sized companies, which employ 70% of the working population, increase wages. We continue to call for fairer business practices.
Press: How do you deal with the labor shortage?
Tokura: We will establish a new foreign policy committee. To strengthen industrial competitiveness, it is essential to develop an environment in which capable foreigners choose Japan and play an active role.
Although the yen is weak and salaries are not high, we want to look at concrete policies that ensure that people from abroad choose to work in Japan.
Press: You have one year left in your term. Who will be chosen as the next chairman?
Tokura: Compared to the past, Keidanren is now more aware of the need to contribute to solving social problems and contributing to society as a whole. We would like to choose someone who looks not only at industrial policy, but also at the big picture for both society and the economy as a whole.
