Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co.'s unions in Japan asked for more pay as the automakers forecast higher earnings, the firms said Wednesday.
Toyota's union requested a bonus of ¥2.53 million, down ¥50,000 from a year ago, the company said in a release. It also asked for an increase of ¥1,500 in monthly pay. Honda's union asked for a bonus equivalent to 6.6-months of wages and an increase of ¥1,000 in monthly salary.
Meanwhile, Nissan's union asked for an annual increase of ¥7,000 and a bonus equivalent to 6.1 months of salary, Nissan said in a statement.
Toyota, Honda and Nissan, the country's three biggest automakers, have forecast higher earnings for the full business year. But the companies' management may be reluctant to meet demands for higher pay, as a stronger yen and a U.S. economic slowdown are expected to squeeze their profits.
"I would expect a token increase will be given," said Edwin Merner, who oversees $2 billion as president of Atlantis Investment Research Corp. "But the mood now is not to increase wages much."
The nation's auto industry employs 4.95 million people, or 7.8 percent of the country's total workforce, according to the Japan Automobile Manufacturers Association. The jobs vary from manufacturing to sales and maintenance.