Japan Minister Calls for Pay Hikes by Firms with Good Earnings

Economy

Tokyo, Nov. 15 (Jiji Press)--Japanese industry minister Koichi Hagiuda called for pay hikes by companies enjoying strong earnings, at a meeting with Masakazu Tokura, chairman of the Japan Business Federation, or Keidanren, on Monday.

"We do want companies with good earnings to raise employees' pay at a time when a 'K-shaped' economic recovery with gaps between industry sectors is increasingly visible," Hagiuda said at the meeting.

The request came after Prime Minister Fumio Kishida, at a press conference on Wednesday, expressed his eagerness to "encourage pay hikes by bringing myself face to face with labor and management representatives."

Speaking to reporters after the meeting with Hagiuda, Tokura indicated that Keidanren will urge profit-earning companies to increase salaries and wages.

"We can't see a uniform pay hike, but will continue to support the momentum for pay hikes," the head of the largest Japanese business group said.

[Copyright The Jiji Press, Ltd.]

Jiji Press