Uniqlo Operator to Boost Starting Salary for College Graduates

Economy

Tokyo, April 3 (Jiji Press)--Fast Retailing Co. <9983>, the operator of the Uniqlo and GU clothing stores, plans to boost its starting salary for college graduates by 20 pct next year, company sources said Wednesday.

The starting salary will rise from the fiscal 2019 level of 210,000 yen to 255,000 yen, effective from fiscal 2020, matching entry-level salaries at major Japanese general traders and foreign manufacturers, according to the sources.

Fast Retailing will also increase salaries for existing employees.

In Japan, competition among companies is intensifying to recruit new graduates against a backdrop of continuing falls in the birthrate.

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