Region:
Asia
Category:
Economy

Japan: Shinzo Abe urged employers to increase wages

Region:
Asia
Category:
Economy
Author/s:
By NHK
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Japanese Prime Minister Shinzo Abe fight against deflation and in this regard urged business leaders to rise salaries in wage negotiations

Japanese Prime Minister Shinzo Abe has called on the leaders of the business community to continue to increase the salaries of their workforces. Business leaders promised to exert maximum efforts to this end.

Abe made the request at a meeting of representatives from government, the business sector and the labor sector held on Tuesday in Tokyo.

Minister of Economic Revitalization, Akira Amari, was at the meeting and the chairman of the Japan Business Federation, Sadayuki Sakakibara, and President of the Japanese Trade Union Confederation, Nobuaki Koga.

Abe asked business leaders to rise salaries in wage negotiations that take place annually in the month of March. He hoped that the increases continue next year, to ensure that the effects of their economic policies, called Abenomía, sit around the country.

Abe also asked companies that are benefiting from the weaker yen help subcontractors to pay them more, to cushion the impact of cost increases resulting from the depreciation of the yen.

The prime minister said that this must be accomplished while increasing wages and raise investment capital.

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