Business

Major Japan firms to pay record winter bonuses for second year

JIJI

Major companies in Japan are set to pay record-high winter bonuses for the second straight year, the Japan Business Federation, or Keidanren, said Thursday.

Bonuses agreed in labor-management wage negotiations for this winter averaged ¥964,543, showing a rise of 1.49 percent from the previous year’s winter and topping ¥900,000 for the fifth consecutive year, according to the first-round Keidanren tally, which covered about one-third of its member companies.

Specifically, winter bonuses will increase year on year in seven of 12 industries covered by the initial survey, with contractors and automakers agreeing to pay as much as ¥1,723,818 and ¥1,023,057 on average, respectively.

A record bonus level is also expected in a final report by the organization of leading Japanese firms, due out in late December, a Keidanren official at the labor policy headquarters said, adding that pay hike momentum was ongoing.