Top execs get behind wage hikes

JIJI

The leaders of major Japanese companies have expressed a willingness to raise pay as requested by Prime Minister Shinzo Abe now that their earnings are improving, thanks to his reflationary policy mix dubbed “Abenomics.”

“A pay-scale hike is an option for the next business year from April,” Takashi Kawamura, chairman of major appliance maker Hitachi Ltd., said after a meeting of labor, management and government representatives Thursday.

Hiromasa Yonekura, chairman of Keidanren and of Sumitomo Chemical Co., said, “I told the prime minister of our determination to increase business investment and pay following improvements in business conditions.”

Nobuaki Koga, chief of the Japanese Trade Union Confederation (Rengo), said, “Without pay hikes, deflation will not be overcome.”