Japan Big Firms to Pay Record Winter Bonuses for 2nd Year

Economy

Tokyo, Nov. 14 (Jiji Press)--Major Japanese companies will pay record-high winter bonuses for the second straight year, the Japan Business Federation, or Keidanren, said Thursday.

Bonuses agreed in labor-management wage negotiations for this winter averaged 964,543 yen, showing a rise of 1.49 pct from the previous year's winter and topping 900,000 yen for the fifth consecutive year, according to the first-round Keidanren tally, which covered about one-third of its member companies.

Specifically, winter bonuses will increase year on year in seven of 12 industries covered by the initial survey, with contractors and automakers agreeing to pay as high as 1,723,818 yen and 1,023,057 yen on average, respectively.

A record bonus level is expected to be shown as well in the final report by the organization of leading Japanese firms, due out in late December, a Keidanren official at the labor policy headquarters said, adding that pay hike momentum continues.

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Jiji Press