Yahoo boosts pay 5%, shifts to merit

JIJI

Yahoo Japan Corp. has introduced a new pay system with more focus on individual performances, company officials said Monday.

Under the new system, introduced after recently favorable earnings, employees of the major portal site operator will see pay rise by a simple average of 5 percent in the fiscal year ending in March 2014.

The move comes in response to Prime Minister Shinzo Abe’s call to increase wages to help shore up the ailing economy.

Yahoo has been rewarding employees with extra bonuses, based on the rate of year-on-year increase in per-employee operating profit.