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19 Mar 2015
Toyota agrees on wage rises across Japan
FXStreet (Bali) - The Nikkei is reporting that Toyota has agreed on wage rises across Japan as part of the spring wage negotiations.
Key Quotes - Nikkei
"Toyota Motor blazed a trail in Japan's annual spring wage negotiations by agreeing to lift monthly base pay by 4,000 yen ($32.70), as many big companies followed suit with record raises of their own."
"We want to set a standard early, with the impact on society and the group in mind," said Managing Officer Tatsuro Ueda. In the final phase of negotiations, management added 300 yen to its original offer."
"When news emerged that Toyota had agreed to raise pay 1,000 yen more than in 2014, negotiations across the industry took a sudden turn."
"By Tuesday, core suppliers in the Toyota group, including Denso and Aisin Seiki, had agreed to increase base pay by 3,000 yen. Fuji Heavy Industries, the maker of Subaru vehicles, had originally planned a 3,000 yen raise but lifted it to a record 3,300 yen when it saw Toyota's hike."
"Minicar maker Daihatsu Motor agreed to increase pay by 1,600 yen, up from 800 yen in 2014. Suzuki Motor had been considering a small hike but ended up following Daihatsu's lead."
Key Quotes - Nikkei
"Toyota Motor blazed a trail in Japan's annual spring wage negotiations by agreeing to lift monthly base pay by 4,000 yen ($32.70), as many big companies followed suit with record raises of their own."
"We want to set a standard early, with the impact on society and the group in mind," said Managing Officer Tatsuro Ueda. In the final phase of negotiations, management added 300 yen to its original offer."
"When news emerged that Toyota had agreed to raise pay 1,000 yen more than in 2014, negotiations across the industry took a sudden turn."
"By Tuesday, core suppliers in the Toyota group, including Denso and Aisin Seiki, had agreed to increase base pay by 3,000 yen. Fuji Heavy Industries, the maker of Subaru vehicles, had originally planned a 3,000 yen raise but lifted it to a record 3,300 yen when it saw Toyota's hike."
"Minicar maker Daihatsu Motor agreed to increase pay by 1,600 yen, up from 800 yen in 2014. Suzuki Motor had been considering a small hike but ended up following Daihatsu's lead."