• Reuters

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Big Japanese companies agreed Wednesday to raise wages for a fifth year, but many are expected to fall short of meeting Prime Minister Shinzo Abe’s 3 percent goal, adding to doubts the central bank will be able to hit its consumer price target.

The results of the shuntō spring wage negotiations between corporate management and unions, announced by the big automobile and electronics companies, set the tone for wage hikes across the nation and could give hints about future consumer spending.

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