Japan Data

Salary Growth at Japanese Listed Companies Flattening Out


The average annual salary at Japanese listed companies was ¥6.31 million in the fiscal year ended March 2020, just 0.2% higher than the previous year.

A study conducted by Tokyo Shōkō Research found that the average annual salary in Japan was ¥6.31 million among 1,803 listed companies that posted financial results as of the fiscal year ended March 2020. This was a year-on-year rise of ¥15,000 or 0.2%, compared with 1.2% in the previous year.

The average salary in Japan has risen for nine consecutive years, but the year-on-year increase has leveled off. The median average salary is ¥6.14 million, the same as in the previous year.

The construction industry had the highest average salary for the fourth consecutive year, at ¥7.56 million, as compared to ¥7.49 million for the previous year. The lowest average salary was in the retail industry, at ¥4.95 million, as compared to ¥4.84 million the previous year, although the salary level has risen in this industry for nine consecutive years.

According to the National Tax Agency’s 2018 study of private salary statistics, the average salary of regular employees who worked throughout that year was ¥5.04 million, which is ¥1.27 million lower than the average among listed companies.

The top 10 companies with the highest average salaries includes five general trading companies and three real-estate firms. Nine of the 10 companies are based in Tokyo. A record high of 33 companies in total had average salaries that exceeded ¥10 million, six more than in the previous year.

The highest average salary for an individual company was eGuarantee, an accounts receivable guarantee company, at ¥24.13 million; followed by the real-estate firm Nippon Commercial Development at ¥19.21 million; Mitsubishi Corporation at ¥16.32 million; and Itōchū at ¥15.66 million. The bank with the highest average salary was Aozora Bank at ¥7.93 million (as compared to ¥8.04 million for the same period the previous year).

Highest Average Salaries Among 1,803 Listed Companies

      (¥ million)
1 eGuarantee  Tokyo 24.13
2 Nippon Commercial Development Osaka 19.21
3 Mitsubishi Corporation Tokyo 16.32
4 Itōchū Tokyo 15.66
5 Marubeni Tokyo 14.53
6 Sumitomo Tokyo 14.37
7 Mitsui & Co. Tokyo 13.93
8 Nihon M&A Center Tokyo 13.53
9 Mitsubishi Estate Tokyo 12.74
10 Mitsui Fudōsan Tokyo 12.73

(Translated from Japanese. Banner photo: Electronic signboard in Chūō, Tokyo, listing Tokyo Stock Exchange results on June 16, 2020. © Jiji.)

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