Move to name no-pay-rise firms
Print Edition
JAPAN’S trade ministry yesterday said it would take the unprecedented step of disclosing the names of firms that did not raise employees’ wages in annual labor talks, after calls by the prime minister to boost pay.
The surprising move comes days after economy minister Akira Amari raised the stakes in sensitive pay negotiations with an apparent threat to take action against “uncooperative” companies.
The usually low-key talks were being closely watched to see if cash-rich firms would put more money in workers’ pockets, amid worries about a looming sales tax hike slamming the brakes on growth.
The government “will react in some way” against firms which are “uncooperative with our policy of creating a virtuous economic cycle,” Amari said on Tuesday.
Tabloid newspaper Nikkan Gendai compared Amari’s comments to the aggressive tactics of Japan’s notorious yakuza gangsters.
Yesterday, the trade minister said his office would publish the outcome of the labor talks known as Shunto, or “spring offensive,” detailing which members of corporate Japan heeded the wage-hike call from Prime Minister Shinzo Abe.
“The ministry plans to conduct a survey on the leading 1,800 companies about this year’s Shunto talks and disclose the results at latest by May,” Toshimitsu Motegi, who heads the ministry of economy, trade and industry, told a parliamentary committee.
Abe’s rare appeal came as he tries to kickstart the world’s third-largest economy, which has suffered from years of crippling deflation.
His growth blitz, dubbed Abenomics, is aimed at reversing falling prices and recent data suggest Tokyo is making headway in stoking lasting inflation, which would mean higher prices.
Consumers are also getting set for a sales tax rise to 8 percent next month, up from 5 percent. The move is seen as crucial to shrinking Japan’s massive national debt, but there are fears it could weigh on consumer spending and slow growth.
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