Japanese Prime Minister Fumio Kishida on Tuesday asked companies to aim for pay hikes that keep pace with accelerating inflation in wage negotiations next spring, as he seeks to achieve both economic growth and redistribution amid the rising cost of living.
Smoothing the way for wage growth, the government will expand subsidies for small and midsize firms on condition that they raise pay, according to a government plan.
It will also prod bigger companies to accept higher prices set by subcontractors by making public the names of those that refuse to do so repeatedly or without providing justification.