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Japan: Large Firms Raise Wages

1 MIN READMar 18, 2015 | 11:06 GMT

Major Japanese firms will raise wages at the conclusion of spring wage talks with labor unions, Kyodo News reported March 18. Toyota will raise average monthly pay by 4,000 yen and Honda will raise it by 3,400 yen, a record for both companies, Kyodo News reported. Hitachi, Mitsubishi, Panasonic and Toshiba will also raise wage scales by 3,000 yen per month. The status of wages at small and local firms is unclear. Japanese Prime Minister Shinzo Abe had requested pay hikes to help boost the economy after a consumption tax hike in 2014.

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