A slew of major Japanese firms are set to introduce hefty wage hikes from April amid rising inflation and labor shortages with the annual spring wage negotiations entering its peak stage on Wednesday.
Policymakers, economists and employees are closely watching this year’s shuntō wage talks between labor and management to see whether the momentum for raising pay is finally gaining force in a country that has been experiencing a slump in wage growth for decades.
Wednesday saw leading electronics makers and manufacturers release their decisions on the wage negotiations, with many agreeing to fully meet labor union demands.