Major Japan business lobby to press firms for more than 4% wage hikes

Economy

Japan’s biggest business lobby Keidanren plans to urge major corporations to consider wage increases with “enthusiasm and determination stronger than this year,” a draft guideline for the annual wage negotiations showed Monday, signaling its intention to seek pay hikes of over 4 percent.

The average pay hike at major member firms this year stood at 3.99 percent, the highest in 31 years. The draft guideline did not include any numerical goals for the increase, but defined 2024 as “an extremely important year to attain sustainable wage growth.”

The move came after Masakazu Tokura, head of the Ja...

Kyodo News

Kyodo News