Japan PM asks business circles to raise wages next year

Politics Economy

Prime Minister Fumio Kishida on Thursday called for wage hikes ahead of annual labor-management negotiations early next year in Japan as he seeks to achieve his policy goal of wealth distribution. In a meeting of Japan's powerful business lobby known as Keidanren, Kishida said, "To distribute (wealth) by raising wages is to invest in the future." The prime minister, who took office in October with the slogan of creating a new form of capitalism, sees accelerating wage growth in Japan as holding the key. He has been calling for an over 3 percent pay hike by companies whose earnings have recover...

Kyodo News

Kyodo News