Japanese Govt, Biz, Labor Reps Meet for Wage Hikes

Tokyo, March 15 (Jiji Press)--Japan's government, labor and business representatives held a meeting Wednesday to realize wages increases outpacing inflation mainly through this year's "shunto" spring wage talks.

The meeting was the first of its kind since April 2015, when late Shinzo Abe was prime minister.

Participants, including Prime Minister Fumio Kishida, exchanged views over this year's labor-management negotiations and future measures to raise pay.

They agreed that it is essential to optimize business deals by passing on labor costs to prices appropriately.

Wage negotiations at small businesses, which account for 70 pct of all employment in the country, hold the key to realizing the structural pay increases sought by the Kishida administration, pundits said.

[Copyright The Jiji Press, Ltd.]