TOKYO - Uniqlo parent Fast Retailing Co Ltd on Wednesday (Jan 10) said it would raise wages by as much as 40 per cent, in the clearest sign yet that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting. The move by the casual clothing giant could serve as a wake-up call for Japan Inc...
Fast Retailing's fashion chain Uniqlo, at a shopping complex in Beijing, China, on May 24, 2020.TOKYO - Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40 per cent, in the clearest sign yet that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.
"We welcome repors of companies that have announced aggressive wage hike policies," Hirokazu Matsuno, the government's top spokesperson, told a news conference. The change was aimed at making the company's work style and remuneration more globally competitive, the spokesperson said, adding that there was an "urgent need" to raise its pay in Japan, where it has remained low compared with its overseas operations.
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Quotes: Uniqlo owner gives Japan Inc a jolt with 40% wage hikeUniqlo parent Fast Retailing Co Ltd said on Wednesday it would raise wages by as much as 40 per cent, in the clearest sign yet that Japan's rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.The move by the casual clothing giant may serve as a wake-up call for Japan
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Uniqlo owner Fast Retailing to raise wages as much as 40%TOKYO: Uniqlo clothing chain operator Fast Retailing said on Wednesday (Jan 11) it will raise wages by as much as 40 per cent, focusing on its home market of Japan where salaries have remained comparatively low. The move comes ahead of spring labour negotiations in Japan, where wage hikes have lagged behin
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Japan's Fast Retailing says it will raise wages as much as 40%TOKYO : Japan's Fast Retailing Co, operator of the Uniqlo clothing chain, said on Wednesday it would revise its pay system for employees, raising wages as much as 40 per cent.The pay system will be revised from March, the company said in a statement, adding that levels in Japan would be significantly incr
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Japan, France vow more security cooperation in Asia-PacificParis - Japanese Prime Minister Fumio Kishida and French President Emmanuel Macron on Monday pledged more security cooperation in the Asia-Pacific as Kishida made his first visit to France since taking office. Japan holds the 2023 presidency of the Group of Seven industrialised countries, and Kishida on Mo
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Japan Nov household spending unexpectedly falls 1.2% year/yearTOKYO : Japanese household spending fell 1.2 per cent in November from a year earlier, government data showed on Tuesday, versus a median market forecast for a 0.5 per cent gain.On a seasonally-adjusted month-on-month basis, household spending decreased 0.9 per cent in November, compared with an estimated
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