Summer Bonuses at Major Japan Firms Down Most in 12 Years

Economy

Tokyo, Sept. 10 (Jiji Press)--Bonuses at major Japanese companies this summer averaged 773,632 yen, down 6.59 pct from a year earlier, a labor ministry survey showed Friday.

The decrease, the sharpest since the slump of 15.6 pct in 2009 following the global financial crisis, reflected worsened corporate earnings due to the coronavirus pandemic.

The average summer bonus fell in 12 of all 21 industry sectors, including the transportation sector, with a plunge of 32.51 pct, the precision instrument sector, with a decline of 11.49 pct, and the automotive sector, with a fall of 9.1 pct.

Many of the other sectors logged only small bonus growth.

The survey covered 349 companies with capital of 1 billion yen or more and 1,000 or more employees.

[Copyright The Jiji Press, Ltd.]

Jiji Press