Many Major Japan Firms Offer Smaller Pay Hikes

Economy

Tokyo, March 13 (Jiji Press)--Many major Japanese firms proposed raising their monthly wages on Wednesday, at the climax of this year's "shunto" labor-management talks, but the size of the proposed hike shrank from the previous year at many of them apparently reflecting economic uncertainties.

Toyota Motor Corp. <7203> offered to increase monthly wages by 10,700 yen per employee, including pay scale and regular wage increases, smaller than the 12,000 yen demanded by labor and than the 11,700 yen agreed on in the 2018 shunto negotiations. The labor side is likely to accept the proposal, informed sources said.

The leading Japanese automaker, which serves as a pacesetter in shunto talks, did not disclose the breakdown of the hike.

Many companies will raise their pay scales for the sixth straight year.

Among automakers other than Toyota, Honda Motor Co. <7267> offered a pay scale increase of 1,400 yen although the figure is down by 300 yen from the previous year. Nissan Motor Co. <7201> proposed a hike of 3,000 yen in base wages, fully meeting the labor side's request.

[Copyright The Jiji Press, Ltd.]

Jiji Press