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Many major Japanese automakers and electronics firms have fully accepted pay demands by labor unions, while major steel-makers and heavy machinery companies have revived pay-scale increases, as this year’s shuntō labor-management wage talks reached their climax on Wednesday.

The companies offered bigger wage increases than they did in last year’s talks as they recovered from the fallout of the COVID-19 pandemic, despite uncertainty in the outlook for the Japanese economy due to Russia’s invasion of Ukraine.

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