TOKYO (Reuters) -Toyota Motor agreed to give factory workers their biggest pay increase in 25 years on Wednesday, heightening expectations that bumper pay raises will give the central bank leeway to make a key policy shift next week. Toyota, Panasonic, Nissan and a number of other of Japan Inc's biggest names said they had agreed to fully meet union demands for pay increases at annual wage negotiations that wrap on Wednesday. The annual talks, long a defining feature of the usually collaborative relationship between Japanese management and labour, are being closely watched this year as the pay increases are expected to help clear the way for the central bank to end its years-long policy of negative interest rates as early as next week.
  • IninewCrow@lemmy.caEnglish
    321·
    9 months ago

    Wow … What progress … they took a step they should have taken 20 years ago.

    Now Japanese workers have to wait another 25 years for increased wages while corporate leaders pay themselves like it’s the 22nd century.

    • SupraMario@lemmy.world
      17·
      8 months ago

      The CEOs in Japan aren’t paid like they pay them here. It’s a lot of money but nothing like the insane numbers here. 2022 his compensation was 6.7million.

    • Deceptichum@sh.itjust.worksEnglish
      26·
      9 months ago

      It’s a term for the intertwined political and capitalist system of Japan.

      It’s an old term from the 80s, maybe 70s?

      • kautau@lemmy.world
        9·
        9 months ago

        Thankfully now the pay is reflective of what it should have been in the 80s, maybe 70s?