• Kyodo


Toyota Motor Corp. plans to accept a demand from the labor union for a one-time payment of 60,000 yen per worker in the 2003 business year for improved productivity, company sources said Wednesday.

Added to the average annual bonus of 2.37 million yen already decided for the business year that begins in April, the average for each worker would be a record-high 2.43 million yen, they said.

The leading carmaker also plans to offer regularly scheduled pay hikes, although it will not offer pay-scale hikes.

Toyota is expected to log higher pretax profits for the year to March 31 than the record-high group pretax profit of 1.14 trillion yen for the previous year.

Toyota’s union decided earlier this year to forgo seeking a pay-scale increase and instead to seek an average 60,000 yen per worker for improved productivity as a one-off payment.

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