Major Japanese manufacturers to raise wages


Many of Japan’s leading companies have agreed to raise their employee’s monthly wages, responding to calls from the government to fight deflation.

The wage hike is the first in six years. It comes in the wake of a massive effort by the Bank of Japan to pull the country out of two decades of deflation.

Ten electronics manufacturers, including Panasonic and Hitachi, will raise monthly salaries by approximately 20 dollars starting from the new fiscal year in April.

Automobile manufacturers Toyota and Nissan have committed to raising salaries by approximately 27 dollars and 35 dollars per month respectively.

Union spokespersons say they hope to see similar commitments from small and medium-size companies.