"Shunto" Spring Wage Talks Kick Off in Japan

Tokyo, Jan. 22 (Jiji Press)--The Japan Business Federation, or Keidanren, and the Japanese Trade Union Confederation, or Rengo, held a meeting of their leaders Wednesday, effectively starting this year's "shunto" spring wage talks.

Keidanren Chairman Masakazu Tokura and Rengo President Tomoko Yoshino agreed that it is a crucial moment to realize a cycle of economic growth through price hikes and wage increases.

The focus of this year's labor-management negotiations is whether the momentum for wage increase will be maintained for stable structural growth after the labor side won the largest pay hike in 33 years in last year's shunto.

At the beginning of the meeting, Tokura said, "It is the social responsibility of our companies to form a substantial middle class through wage hikes and lead the Japanese economy to a virtuous cycle of growth and distribution."

"We hope to share our awareness and direction and cooperate with Rengo," he added.

[Copyright The Jiji Press, Ltd.]