Top Japan companies agreed to average 5.58% pay hike, business lobby says

TOP Japanese companies agreed to pay increases of an average 5.58 per cent at annual labour talks that wrapped up in March, the Keidanren business lobby’s preliminary data showed on Monday.

The average wage increase at the “shunto” spring wage talks this year exceeded last year’s finalised 3.99 per cent increase.

The country’s largest union group Rengo said in March that Japanese firms had agreed to raise pay by 5.25 per cent this year, the biggest rise under comparable data since 2013. REUTERS