TOKYO (Reuters) – Toyota Motor Corp’s (7203.T) labour union plans to seek an average pay rise of 10,100 yen ($91.98) per month in wage negotiations this year, public broadcaster NHK reported on Thursday, 600 yen less than the increase granted last year.

The smaller request by Japan’s corporate bellwether could be a setback for the economy, as companies hesitate to raise wages out of fear of committing to higher costs.

Toyota last year offered a pay raise of 10,700 yen on average, which was down 1,000 yen from the previous year.

Annual wage talks in March between management and unions – announced by major companies in sectors such as cars and electronics – set the tone for full-time employees’ wages across the nation, which have implications for consumer spending and inflation.

($1 = 109.8100 yen)

Reporting by Chang-Ran Kim; Editing by Shri Navaratnam


Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

U.S. stocks to end year around current levels as virus takes toll: Reuters poll

NEW YORK (Reuters) – U.S. stocks will end this year around current levels as the coronavirus pandemic cripples the economy and eats into earnings, according to strategists polled by Reuters. The market has been on a tear in recent weeks,…

Wall St. set to rise on Disney’s surprise profit, upbeat healthcare results

(Reuters) – Wall Street’s main indexes were set to open higher on Wednesday as Disney’s surprise quarterly profit and a slate of upbeat results from healthcare companies lifted sentiment ahead of service sector data. Walt Disney Co (DIS.N) shares jumped…

John Bolton’s memoir is among the best-selling Trump tell-all books of his presidency

New York (CNN Business)John Bolton’s book “The Room Where It Happened” is the best-selling Trump tell-all in two years, according to week one sales figures. Simon & Schuster, the book’s publisher, said Wednesday that it has sold more than 780,000…

Judge grants Amazon bid to pause Microsoft’s Pentagon contract work

WASHINGTON (Reuters) – A U.S. judge on Thursday granted Inc’s request for a preliminary injunction to pause the U.S. Department of Defense and Microsoft Corp from moving forward on an up-to-$10 billion cloud computing deal. Judge Patricia E. Campbell-Smith…