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▼ Major Companies to Grant Larger Pay-scale Hikes in 2018
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TOKYO (Jiji Press) — Many major companies, including automakers and electronics makers, on Wednesday proposed raising their pay scales for the fifth straight year, with the hikes surpassing those of the previous year on the back of robust earnings.
In the fifth year of the government’s campaign to press businesses to increase wages in shunto management-labor wage talks, Prime Minister Shinzo Abe had asked for pay increases of at least 3 percent.
Among automakers, Nissan Motor Co. fully met the labor side’s requests for an effective pay-scale hike of ¥3,000 and annual bonuses of 5.8 months’ salary. The pay-scale hike was double the previous year’s increase.
Honda Motor Co. offered to raise its pay scale by ¥1,700, up from the previous year’s ¥1,600 but less than the labor-requested ¥3,000. The company fully met the annual bonus request of 6.2 months’ salary.
Subaru Corp. boosted its pay-scale hike to ¥1,300 from ¥1,100. Industry leader Toyota Motor Corp. settled its negotiations with the labor side with a pay-scale increase of an undisclosed amount that surpassed the previous year’s ¥1,300.
Electronics makers Hitachi Ltd., Panasonic Corp. and Mitsubishi Electric Corp. each proposed a pay-scale hike of ¥1,500, up from ¥1,000 in 2017.
It is customary for major electronics makers to receive equal pay-scale hike requests from the labor side and to give a common response. The labor unions of Toshiba Corp. and Sharp Corp. returned to the unified wage negotiations this year after taking independent paths amid business slumps.
Among major steelmakers, in their biennial wage negotiations, Nippon Steel & Sumitomo Metal Corp., JFE Steel Corp. and Kobe Steel Ltd. offered to raise their respective pay scales by ¥1,500 each in fiscal 2018 and fiscal 2019, an improvement from the previous talks, when they proposed a combined ¥2,500 increase over two years.
In the fifth year of the government’s campaign to press businesses to increase wages in shunto management-labor wage talks, Prime Minister Shinzo Abe had asked for pay increases of at least 3 percent.
Among automakers, Nissan Motor Co. fully met the labor side’s requests for an effective pay-scale hike of ¥3,000 and annual bonuses of 5.8 months’ salary. The pay-scale hike was double the previous year’s increase.
Honda Motor Co. offered to raise its pay scale by ¥1,700, up from the previous year’s ¥1,600 but less than the labor-requested ¥3,000. The company fully met the annual bonus request of 6.2 months’ salary.
Subaru Corp. boosted its pay-scale hike to ¥1,300 from ¥1,100. Industry leader Toyota Motor Corp. settled its negotiations with the labor side with a pay-scale increase of an undisclosed amount that surpassed the previous year’s ¥1,300.
Electronics makers Hitachi Ltd., Panasonic Corp. and Mitsubishi Electric Corp. each proposed a pay-scale hike of ¥1,500, up from ¥1,000 in 2017.
It is customary for major electronics makers to receive equal pay-scale hike requests from the labor side and to give a common response. The labor unions of Toshiba Corp. and Sharp Corp. returned to the unified wage negotiations this year after taking independent paths amid business slumps.
Among major steelmakers, in their biennial wage negotiations, Nippon Steel & Sumitomo Metal Corp., JFE Steel Corp. and Kobe Steel Ltd. offered to raise their respective pay scales by ¥1,500 each in fiscal 2018 and fiscal 2019, an improvement from the previous talks, when they proposed a combined ¥2,500 increase over two years.
- March 15, 2018
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