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Will smaller Japanese firms adopt similar pay hikes by mid-2025?
4
Resolution / Starting Odds
Yes • 50%
No • 50%
Reports from the Japan Small Business Association
Story
Major Japanese Firms Agree to 5.58% Pay Hike, Highest in 33 Years
May 20, 2024, 08:44 AM
Major Japanese firms have agreed to an average pay hike of 5.58% in the spring 'shunto,' marking the highest level in 33 years. This wage increase comes amid a labor shortage, particularly in rural prefectures where wages are rising faster than in urban centers. According to a Bank of Japan survey, many companies reported that they can no longer hire enough workers if they curb wages and are starting to pass on rising labor costs to sales prices.
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Widespread opposition • 25%
Moderate opposition • 25%
Neutral • 25%
Supportive • 25%
Increase overseas investments • 33%
Hedge against currency risk • 34%
No significant change • 33%
Positive impact • 33%
Neutral impact • 34%
Negative impact • 33%
Above 50% • 33%
Between 30% and 50% • 33%
Below 30% • 33%
No change • 33%
Minor adjustments • 34%
Major overhaul • 33%
Significant increase • 25%
Moderate increase • 25%
No significant change • 25%
Decrease • 25%
