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Over half of Japan firms do not plan to raise base pay by 3% in 2018

In the past four years, major companies agreed to raise wages about 2 per cent at annual wage negotiations with labour unions

Reuters  |  Tokyo 

More than half of Japan's companies do not plan to raise base pay in annual wage talks in coming months, a set back for the prime minister and the country's main business lobby which has called for wage rises of 3 per cent to fuel an economic revival. In a monthly Reuters Corporate Survey, just less than half said they would raise pay and most in this group said the increase would be similar to last year's level of about 2 per cent. Prime Minister Shinzo Abe and the Keidanren business group have sought a 3 per cent wage rise to encourage consumption and inflation, key ...

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First Published: Tue, February 20 2018. 12:23 IST