March 14, 2024

At Japan’s highly anticipated “shunto” spring wage negotiations this year, the world’s largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years.

Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for.

Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year’s wage negotiations will influence the central bank’s decision on when to exit the world’s last negative interest rate policy.

Read more:

https://www.cnbc.com/2024/03/14/japan-2024-shunto-spring-wage-negotiations.html