Winter Bonuses at Major Japanese Firms Down 9 Pct

Economy

Tokyo, Dec. 22 (Jiji Press)--The average winter bonus at major Japanese companies this year dropped 9.02 pct from a year before to 865,621 yen, down for the first time in eight years, a Japan Business Federation survey showed Tuesday.

The drop was the steepest since 2009, when the average winter bonus sagged 15.01 pct in the aftermath of the financial crisis triggered by the collapse of U.S. investment bank Lehman Brothers in 2008.

Major companies “were affected more seriously in winter than in summer by novel coronavirus infections,” said an official of the federation, known as Keidanren.

Winter bonuses in the manufacturing sector averaged 864,862 yen, down 7.48 pct.

The average winter bonus in the nonmanufacturing sector fell 12.94 pct to 868,431 yen. The pace of decline was the fastest since Keidanren began to divide surveyed companies into the manufacturing and nonmanufacturing sectors in 1997.

[Copyright The Jiji Press, Ltd.]

Jiji Press