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July 27, 2024
 

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WAGES

Demonstrators rally to demand a big hike in minimum wages in Tokyo last week.
BUSINESS / Economy
Jul 25, 2024
Japan’s minimum wage set for record ¥50 hike in major boost
While the sharp increase will be a big boost for workers, smaller firms already struggling financially will be put under further stress.
Some economists say a sticky weak yen trend would have a negative impact on Japan's real wage growth.
BUSINESS / Economy
Jul 24, 2024
Yen rally could help end crushing wage decay in Japan
The Japan Research Institute anticipates real wage growth turning positive in the July-September quarter assuming ¥155 to the dollar.
More Japanese firms have gone bankrupt in the first half of this year due to soaring costs, labor shortages and the end of pandemic-related support.
BUSINESS / Economy
Jul 18, 2024
Triple whammy takes Japan bankruptcies to decade high
Soaring costs, labor shortages and the end of pandemic-related financial support are taking a heavy toll on smaller businesses.
Unionists hold a rally in Tokyo in April. Households' real cash earnings have been falling year on year for more than two years, with the weakening of the yen making the situation only more difficult as prices of imported goods increase rapidly.
BUSINESS / Economy
Jul 17, 2024
Japan’s minimum wage might not budge much if corporate fears prevail
While households desperately need a big raise, smaller businesses might not be in a position to handle an increase as they struggle with the weak yen.
The number of teachers in their 20s on leave due to mental conditions has risen, highlighting the need to reduce burdens on young teachers.
JAPAN / Society
Jul 17, 2024
Japan to boost support for young teachers to secure staff
The package addresses concerns about a decline in interest in teaching jobs among young people and aims to reduce teachers' overtime work to 20 hours per month.
Participants in a "cross-mentoring" training session held by sports club operator Renaissance share their concerns with female executives from other companies who serve as role models.
JAPAN / FOCUS
Jul 16, 2024
Japan intensifies efforts to address gender pay gaps
According to the labor ministry, the average monthly wage for full-time female workers last year was ¥262,600, about 75% of the ¥350,900 earned by men.
Keisuke Mukunashi, CEO of Yamaguchi Financial Group, says the regional bank is ready to pay compensation comparable to that of Japan’s biggest banks.
BUSINESS / Companies
Jul 14, 2024
Regional Japan lender dangles megabank pay for market hires
Competition among financial institutions to hire bond traders and other specialists is intensifying as the Bank of Japan nudges interest rates higher.
Some regional smaller firms have decided to prioritize raising pay to retain or hire workers, even if they have not been earning sufficient profits, the Bank of Japan has said.
BUSINESS / Economy
Jul 8, 2024
Bank of Japan sees wage hikes spreading across economy
The optimistic assessment may heighten the case for the central bank to raise interest rates as soon as its next meeting on July 30 and 31.
Japanese workers' base pay increased 2.5% in May from a year ago, the fastest growth since 1993.
BUSINESS / Economy
Jul 8, 2024
Japan base pay jumps most since 1993 in positive signal for BOJ
Base pay increased 2.5% in May from a year ago, the fastest growth since 1993.
Japanese household spending unexpectedly fell in May as higher prices continued to squeeze consumers' purchasing power.
BUSINESS / Economy
Jul 5, 2024
Japan’s household spending falls, clouding growth outlook
The yen's slide is expected to further raise prices for imported raw materials, energy, and food.
Workers' monthly pay will rise 5.1% on average this fiscal year, according to a survey of companies conducted since March by union group Rengo.
BUSINESS
Jul 3, 2024
Firms deliver biggest pay hikes in 33 years, union survey shows
Workers' monthly pay will rise 5.1% on average this fiscal year, according to union group Rengo.
The number of construction workers in Japan stood at 4.83 million in 2023, down by more than 2 million from the peak of 6.85 million in 1997.
BUSINESS / Companies
Jul 1, 2024
Amid labor shortages, Japanese builders urged to improve conditions
The government is advocating wage increases and the full implementation of a five-day workweek.
The number of lawmakers with income of over ¥100 million totaled seven, all Liberal Democratic Party members, in 2023, up from two in the previous year.
JAPAN / Politics
Jul 1, 2024
Lawmakers' average income rises for the first time in 5 years
The number of lawmakers with an annual income of over ¥100 million increased to seven in 2023, up from two in the previous year.
Shareholders at Toyota's annual general meeting, held in Toyota, Aichi Prefecture, on June 18
BUSINESS / Companies
Jun 26, 2024
Toyota chair's pay raised to $10 million despite safety probe
The total made Akio Toyoda the highest paid Japanese executive for a third straight year.
Film director Hirokazu Kore-eda (left) and actor Lily Franky arrive for a photocall to promote the Official Selection feature film "Shoplifters" at the San Sebastian Film Festival in Spain in September 2018.
CULTURE / Film
Jun 21, 2024
Japanese film startup aims to change industry working conditions
K2 Pictures is seeking to raise the money from domestic and foreign investors.
Japanese household spending in April showed the first year-on-year increase since February last year, marking rises in such categories as education, rent and clothing.
BUSINESS / Economy
Jun 7, 2024
Japan’s households boost outlays for first time in 14 months
Real outlays rose 0.5% in April from a year ago, marking the first increase since February last year.
Ryu Kawane works at the Costco store in Meiwa, Gunma Prefecture. Costco's high pay has triggered wage hikes at other businesses in town.
BUSINESS / Companies
Jun 6, 2024
Costco's Japan wages provide pathway to firing up nation's low pay and economy
A sustainable rise in wages is a key goal for Prime Minister Fumio Kishida and the Bank of Japan says it's a crucial factor for normalizing monetary policy.
A government estimate has shown that lifetime disposable income for households with wives who continue working post-childbirth is ¥167 million higher than that for those who quit their jobs and remain unemployed.
BUSINESS
Jun 5, 2024
¥170 million income gap estimated with women's continued employment
The government will promote reform in the workplace environment to achieve structural wage increases, said the prime minister.
Japan's base pay in April rose 2.3% from a year earlier to drive up nominal wages by 2.1%, but real wages marked a 25th consecutive month of decline as pay growth lagged inflation.
BUSINESS / Economy
Jun 5, 2024
Japan’s biggest base pay jump since 1994 still leaves doubts
Pay continues to lag inflation, with analysts appearing to latch on to weaker-than-expected growth in cash wages in data that avoids sampling issues.
The draft of this year's long-term economic policy road map says consumption is stalling even though Japan's economy is continuing to recover moderately.
BUSINESS
Jun 4, 2024
Draft economic policy road map warns of weak yen's impact on households
The reference to the weak yen's impact will likely keep the Bank of Japan under pressure to raise interest rates or slow its huge bond buying.
Japan's population continues to fall even as foreign resident count rises
The number of residents in Tokyo as of Jan. 1 rose by 0.03% from a year before, data shows, marking a year-on-year increase for the first time in three years, while the country's other 46 prefectures saw their populations continue to decline.
Japan’s minimum wage set for record ¥50 hike in major boost
Demonstrators rally to demand a big hike in minimum wages in Tokyo last week.
One dead, three missing as heavy rain batters Tohoku
Camera footage shows the Mogami River bursting its banks in Tozawa, Yamagata Prefecture, on Friday morning.
Yen melt-up nudges Japanese stocks into correction territory
Japanese stocks are down 10% from their July peak as the yen strengthens.
Yen rally could help end crushing wage decay in Japan
Some economists say a sticky weak yen trend would have a negative impact on Japan's real wage growth.
Japan’s minimum wage set for record ¥50 hike in major boost
Demonstrators rally to demand a big hike in minimum wages in Tokyo last week.
Japan loses top spot on strongest passport list to Singapore
Japan had the strongest passport for six years running from 2018, before being dethroned by Singapore on the 2024 list.
Why Japan's mysterious stash of classified funds escapes scrutiny
Prime Minister Fumio Kishida and Chief Cabinet Secretary Yoshimasa Hayashi (right) during a meeting in Tokyo on Tuesday.
Terunofuji, as he tends to do, returns to stamp his authority on sumo pretenders
Terunofuji (left) throws down Kirishima on Tuesday to build on his perfect record at the Nagoya Grand Sumo Tournament.
Japanese startups advised to internationalize to get some global mojo
Entrepreneurs who participated in the Beyond Japan Zero to X program last year share their experiences in the United States during a meeting in May in Tokyo.

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