Tokyo: A survey has been conducted regarding the increase in the salaries of employees in 80% of small and medium-sized companies in Japan.
The survey revealed that 80 percent of Japan’s small and medium-sized enterprises are planning to raise salaries in the new fiscal year starting in April.
Tokyo Shoko Research, a private credit research firm conducting the survey, said in its report that 3,653 responses were received in the online business survey.
Of the 80 percent of businesses planning to raise salaries, 76 percent said they would increase based on seniority, with 49 percent planning to increase base wages and 36 percent responding to increasing bonuses.
In response to a question about the rate of salary increases, 29 percent said they planned to raise wages by 5 percent or more, compared to only 8 percent of companies in the previous survey who were considering increasing wages by that rate. were
When companies that did not plan to raise wages were asked for reasons for doing so, many cited rising raw material prices as well as the inability to pass on the increased cost of goods and services to consumers. is given
In annual wage negotiations this year, Rengo, Japan’s largest labor union, demanded a wage increase of around 5 percent.
Experts are now focused on whether this trend will increase among small and medium-sized companies, which account for 70 percent of Japan’s workforce.
