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Erica Yokoyama
In a reflection of persistent price pressure, real wages declined for a second straight month in February, falling 1.2% from a year earlier.
BUSINESS / Economy
Apr 7, 2025
Japan’s nominal wages rise in bright spot as outlook darkens
Nominal cash earnings for workers climbed 3.1% in February from a year earlier, with the pace accelerating from a revised 1.8% in January, the labor ministry said Monday.
Factory output in February marked the fastest gain since March last year thanks to strong demand before the U.S. implements new tariffs on autos and auto parts.
BUSINESS / Economy
Mar 31, 2025
Japan production rises most in 11 months ahead of new U.S. tariffs
Factory output increased in February by 2.5% from January, the first advance in four months and marking the fastest gain since March last year.
A survey of 12,817 companies by Shinkin Central Bank Research Institute found that only 51% committed to base wage hikes, the think tank announced on Thursday.
BUSINESS
Mar 27, 2025
Japan’s wage growth isn’t as rosy as Rengo’s data indicate
The broader picture for pay trends may not be as rosy as the union group expects, according to one think tank.
Bank of Japan Gov. Kazuo Ueda speaks at the central bank's headquarters on March 19.
BUSINESS / Economy
Mar 26, 2025
BOJ to keep raising benchmark rate if outlook is met, Ueda tells parliament
The central bank governor noted that while there are pockets of weakness, “the economy is recovering moderately.”
Chief Cabinet Secretary Yoshimasa Hayashi during a news conference on Tuesday
JAPAN / Politics
Mar 25, 2025
Ishiba plans price measures through existing budgets
While no new spending appears to be planned, Ishiba’s comments on the price measures likely had the upcoming summer general election in mind.
While headline inflation cooled in February, underlying price pressure remains steady, raising concerns for households as real wages remain stagnant.
BUSINESS / Economy
Mar 21, 2025
Japan’s inflation slows less than expected, backing BOJ hikes
Consumer prices excluding fresh food rose 3.0% from a year ago in February, decelerating from a 3.2% pace in January.
A worker keeps a tally of wages Wednesday in Tokyo at the head office of UA Zensen, Japan's largest industrial trade union that represents workers mostly at small and medium-sized firms.
BUSINESS / Companies
Mar 14, 2025
Japan’s unions win largest pay hike in more than three decades
Some 760 affiliated unions under the trade union federation Rengo have so far secured an average pay gain of 5.46% in ongoing annual wage negotiations.
Base pay rose by 3.1% in January from a year earlier, the largest advance since October 1992, according to the labor ministry.
BUSINESS / Economy
Mar 10, 2025
Japan records fastest gains in base pay since 1992, supporting BOJ moves
Data has also highlighted the impact of price growth, with real cash earnings falling 1.8%.
Rengo says its member unions have demanded an average wage increase of 6.09% this year, up from last year’s 5.85%.
BUSINESS / Economy
Mar 6, 2025
Japan’s biggest union group demands highest wage hike since 1993
Member unions of the Japanese Trade Union Confederation are seeking an average wage increase of 6.09% this year, up from last year’s 5.85%.
According to a tally released on Thursday, some 1,416 labor unions under the umbrella of the Japan Council of Metalworkers’ Union requested a monthly base salary gain of ¥14,149 ($94.84) on average in talks expected to culminate with a deal next month.
BUSINESS / Companies
Feb 27, 2025
Japan's metalworker unions demand record pay hike
The demand by Japan Council of Metalworkers’ Union is an early sign of continued momentum for pay growth in the country.
The number of newborns in 2024 fell 5% from the previous year to 720,988, extending a nine-year streak of declines, according to preliminary population data released Thursday by the health ministry.
JAPAN
Feb 27, 2025
Japan records fewest births on record, deepening demographic crisis
The number of newborns in 2024 fell 5% from the previous year to 720,988, extending a nine-year streak of declines.
Some 61.9% of over 11,000 surveyed companies intend to pledge pay increases as part of annual wage negotiations culminating in March, according to a survey by Teikoku Databank.
BUSINESS / Companies
Feb 20, 2025
Record percentage of Japanese firms plan wage hikes, survey shows
Some 61.9% of over 11,000 surveyed companies intend to pledge pay increases as part of annual wage negotiations culminating in March.
The Bank of Japan headquarters in Tokyo
BUSINESS / Economy
Feb 18, 2025
Ex-BOJ deputy Nakaso sees BOJ hiking to 1% and perhaps beyond
His remarks come as market participants debate the likely terminal rate of the central bank’s current tightening cycle.
While the ruling minority government’s weakened position has emboldened opposition parties to push for more spending across multiple policy fronts, the International Monetary Fund has warned there is limited space today in Japan to address the risks of natural disasters and mounting social security costs.
BUSINESS / Economy
Feb 7, 2025
Japan needs immediate deficit cut to fix fiscal path, IMF warns
The government needs to prepare now to avoid negative surprises four or five years down the road, the IMF’s Japan mission chief says.
U.S. President Donald Trump speaks during a news conference at the White House on Thursday.
BUSINESS
Jan 31, 2025
Japan wary of taking another hit if Trump slaps tariffs on China
Policymakers, investors and economists are watching Trump’s trade policy amid fears that his threatened use of tariffs could batter global commerce.
A Japanese class at a job placement company in Hanoi in 2022. The number of foreign workers in Japan hit a record high in 2024.
JAPAN
Jan 31, 2025
Japan’s foreign workforce hits fresh record as labor crisis deepens
Japan had a record 2.3 million foreign workers as of October 2024, marking a 12.4% increase from the previous year.
The latest projection underscores the growing financial strain Japan will likely face amid anticipated additional rate hikes by the Bank of Japan.
BUSINESS / Economy
Jan 30, 2025
Japan sees debt-service costs jumping 25% by 2028 as BOJ hikes
The latest projection underscores the growing financial strain Japan will likely face amid anticipated additional rate hikes by the central bank.
People were more concerned about the direct and specific impact of the Bank of Japan's latest rate hike on their personal lives, according to an artificial intelligence-driven analysis of various platforms, including social media.
BUSINESS / Economy
Jan 29, 2025
Japan begins feeling the pain of BOJ rate hikes more concretely
As time goes on, the BOJ’s rate increases appear to be having a stronger impact on people’s everyday lives, shifting from more abstract concepts to more concrete effects.
Service inflation accelerated a tad to 1.6%, while an index excluding energy costs and fresh food prices advanced 2.4%, unchanged from the pace in November.
BUSINESS / Economy
Jan 24, 2025
Inflation in Japan jumps to 3%, supporting the BOJ's rate-hike case
The solid inflation data support the case for the Bank of Japan to raise interest rates on Friday, a move widely anticipated by markets and economists.
A business district in Tokyo. Japan plans to strengthen pre-screening measures for overseas investors that could potentially cooperate with foreign intelligence gathering efforts, addressing rising national security concerns.
BUSINESS
Jan 23, 2025
Japan to tighten investment pre-screening amid security concerns
While the updated regulations will impose an additional step for a broader range of investors, those who pass the screening can still invest in Japanese companies.

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Visitors walk past Sou Fujimoto's Grand Ring, which has been recognized as the largest wooden structure in the world.
Can a World Expo still matter? Japan is about to find out.