As all the Japanese carmakers, from Toyota to Mazda see their profits records even higher this fiscal year, unions across the country strive for an increase in the base salaries and bonuses for workers.
According to Yasunobu Aihara, president of the Confederation of Japan Automobile Workers’ Unions, at this year’s spring labor negotiations, the workers will ask for yearly bonuses that would surpass five months of salary – a first in the last 15 years.
“The Japanese economy is at a major turning point,” Aihara said in a briefing in Tokyo. “To end the prolonged deflation and to ensure the nation’s economy will revive and grow sustainably, all member unions decide to ask for an increase in monthly base pay.”
As analysts estimate that all Japanese automakers, except for Nissan, will have record profits for the year, mainly due to the economic policies enforced by Prime Minister Shinzo Abe – he in turn asked companies to raise wages to support further economic growth.