More than 60% of Japanese companies — a record high percentage — plan to raise workers’ wages in the next fiscal year beginning April as they fight to recruit and retain staff, according to a survey by Teikoku Databank.
Some 61.9% of over 11,000 surveyed companies intend to pledge pay increases as part of annual wage negotiations culminating in March, the report Thursday showed. A year ago, when the wage talks ultimately resulted in the biggest increases in decades, 59.7% of companies surveyed by Teikoku flagged pending hikes.
About 56% of surveyed firms said they plan to raise base salaries, also marking the highest percentage since the data firm began tracking this question in 2007. The survey was conducted in late January.
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