Preliminary results of annual wage negotiations suggest that many Japanese workers will receive the biggest salary increase in decades. This is certainly a positive sign for the Bank of Japan, which will meet in a few days to discuss whether to end the negative interest rate policy. Japan's largest company by market capitalization Toyota Motor said on Wednesday that it agreed to fully satisfy the record salary increase proposed by the union. Workers across the auto industry are expected to receive at least 5% pay increases. The Japan Metals, Machinery and Manufacturing Workers Association said that the average salary increase of the 60 subordinate trade unions was 5.32%, far higher than last year's level. As the largest trade union in Japan, the General Federation of Trade Unions (Rengo) will collect members' salary increase data and announce the results on March 15. The average salary increase requested by members of the organization was 5.85%, the highest since 1998, and 4.49% for the same period last year.
日本企业将进行数十年来最大涨薪 央行升息前景进一步增强
Japanese companies will carry out the biggest salary increase in decades, and the prospects for the central bank to raise interest rates will further strengthen
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