Toyota Motor Corp., the country’s industry leader in terms of this Spring’s (Shunto) wage negotiations has agreed with its trade union a 4000¥ (31 €) rise in monthly wages, representing the largest pay rise since 2002. After much encouragement from the government to assist the economic turnaround through higher wages, other businesses have followed suit.
Record wages. For Toyota Group when everything is taken into account including 7,300¥ (57€) for promotions and career history, the rise will come to 11,300¥ (88€) on the basic monthly wage making a 3.2% rise that is the highest since 2002. Nissan Motor Corp however has announced an even higher monthly rise of 5,000¥ (39€) together with 5.7 months of salary compared with 3,500¥ (27€) in 2014. Other major names (Hitachi, Mitsubishi, Panasonic, and Toshiba) have similarly raised salaries by...
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