Major Electronic Firms to Raise Base Salaries by at Least 1,000 Yen

Economy

Tokyo, March 9 (Jiji Press)--The umbrella organization for labor unions of six major Japanese electronics firms indicated Monday that the management side has effectively agreed on pay-scale increases of at least 1,000 yen per month.

The Japanese Electrical Electronic & Information Union has set a 1,000-yen pay-scale hike as the minimum response from the management side needed to avert a strike, Takahiro Nonaka, head of the union, disclosed at a press conference the same day.

At the same time, he suggested that the industry-wide organization will no longer demand member unions settle on a uniform pay hike, saying, "We will let members get more if they secure the previous year's hike amount (of 1,000 yen)."

The JEEIU will also allow the six companies--Hitachi Ltd. <6501>, Panasonic Corp. <6752>, Mitsubishi Electric Corp. <6503>, Fujitsu Ltd. <6702>, Toshiba Corp. <6502> and NEC Corp. <6701>--to include allowances for "investment in human resources" in their wage hike responses, depending on their earnings conditions.

To what extent major Japanese companies will raise base salaries through this year's "shunto" wage negotiations has rapidly attracted public attention amid swelling fears over the spreading outbreak of the novel coronavirus sending the Japanese economy into recession.

[Copyright The Jiji Press, Ltd.]

Jiji Press