With no increase in the base wages, Japan won’t get out of deflation

Major auto and electronics makers in this year’s spring labor offensive have offered an increase in annual income, as requested by corporate unions, but no increase in the base wage because these Rengo-affiliated unions shelved a request for an increase in the base wage for four consecutive years. To their corporate unions, carmakers, including Toyota and Nissan, on March 13 answered that they will grant an increase in seasonal bonuses. Leading electronics manufactures also answered on the same day that they will increase bonuses, though less than the amount their corporate unions requested, and will maintain automatic pay increases. The […]