Fast Retailing to Raise Annual Pay by Up to 40 Pct

Economy

Tokyo, Jan. 11 (Jiji Press)--Fast Retailing Co. <9983>, the operator of Uniqlo and other clothing shops, said Wednesday that it will raise annual salaries of around 8,400 full-time and other workers in Japan by up to 40 pct.

The company will revamp its salary system in March in hopes to secure talented workers.

With the change, the starting monthly salary of new employees will rise to 300,000 yen from the current 255,000 yen, and their annual pay will go up about 18 pct.

The monthly salary of store managers in the first or second year at the Fast Retailing group will be increased to 390,000 yen from 290,000 yen, with their annual pay set to rise by around 36 pct.

It will be the first time for Fast Retailing to implement an across-the-board wage hike under its current salary system.

[Copyright The Jiji Press, Ltd.]

Jiji Press