Bonuses to be paid by major companies this summer will increase 1.51 percent from a year earlier to ¥790,468 on a weighted average basis, marking the first rise in two years, the Japan Business Federation (Nippon Keidanren) said in a preliminary survey Wednesday.
The figure represents a sharp turnaround from a record fall of 19.39 percent last summer amid the global financial crisis, reflecting a steady recovery in corporate earnings, Nippon Keidanren said.
In value, however, the average amount of summer bonuses is considerably smaller than the all-time high of ¥938,555 in 2007.
Bonuses are paid based on results of wage negotiations between labor and management held every spring.
The federation surveyed 251 companies that are listed on the first section of the Tokyo Stock Exchange and have a workforce of 500 or more. The average numbers were computed on the basis of data obtained from 68 companies that made the results of their spring pay talks available for the poll.
By industrial sector, the average summer bonus at manufacturers will rise 3.20 percent to ¥772,195, while that at nonmanufacturers will drop 1.30 percent to ¥825,850.
The average bonus at nonferrous metal makers, which plunged more than 20 percent last summer, will increase 5.91 percent to ¥658,582. Other noticeable rebounds in bonus payments include a 5.39 percent rise to ¥712,079 at electric equipment manufacturers and a 2.09 percent hike to ¥838,773 at automakers.
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