Business

Summer bonuses to hit record high

Bonus payments planned by 150 major Japanese companies this summer average a record 846,343 yen per employee, according to a recent survey by the Japan Business Federation (Nippon Keidanren).

The amount is up 3.31 percent from last year and surpasses the previous record of 810,919 yen, set in 1998, the business lobby said.

By industry, automakers plan to pay an average 1,019,272 yen, up 2.11 percent from last year and exceeding 1 million yen for the first time, reflecting their business recovery.

Other business sectors are also planning to raise summer bonus payments. The amounts will rise 24.11 percent at steelmakers, 10.34 percent at electrical machinery makers and 9.96 percent at textile companies from the year-before levels.

Coronavirus banner