Major Japanese Companies Raise Wages by 3.6% in Spring Labor Offensive... Highest Level in 30 Years

According to a report by Asahi Shimbun on the 5th, major Japanese companies raised wages by an average of 3.6% through this spring's wage negotiations, known as Chuntu. This comes amid an unusual period of sustained high inflation.

According to the report, the Japanese Ministry of Health, Labour and Welfare conducted a survey targeting 364 companies with a capital of 1 billion yen (approximately 9.2 billion KRW) and more than 1,000 employees, revealing these results. As a result, this year's wage increase rate reached the highest level in 30 years, rising 1.4 percentage points compared to last year.

The wage increase rate by industry was highest in shipbuilding at 5.37%, followed by precision machinery at 4.92%, and textiles at 4.62%. The increase in wages due to base salary raises and regular promotions was identified as an average of 11,245 yen per month.

Additionally, Keidanren, a Japanese business federation, announced the previous day that the Chuntu wage increase rate, calculated from 136 companies with more than 500 employees, was 3.99%, the highest since 1992.

This content was produced with the assistance of AI translation services.