Major electronics companies and carmakers said Wednesday they will not increase monthly base pay in light of the worst economic slump in a decade, shrugging off their unions' demand in the "shunto" spring wage talks for a raise.
Many companies also decided to reduce annual bonuses amid the bleak outlook.
"We entered the talks with the priority on how to ensure the company's survival and how to secure employment," Nissan Motor Co. Senior Vice President Hitoshi Kawaguchi told a news conference in Tokyo.