Many major Japanese companies fully accepted their unions’ pay hike demands on Wednesday, when this year’s shuntо̄ spring labor-management negotiations reached a climax.
Despite an uncertain business environment due partly to U.S. President Donald Trump’s high tariff policy and escalating tensions in the Middle East, moves to raise wages to secure effective workers are spreading among large companies.
In the automobile industry, Toyota fully met its union’s request for monthly wage and bonus hikes for the sixth straight year. The leading Japanese automaker aims to reward employees who are working strenuously to improve productivity in defiance of a tough business climate reflecting the U.S. tariff policy.
AloJapan.com