Japan Auto Giants Offer Biggest Raises in Decades Amid BOJ Focus
- Toyota wage hike biggest in 20 years, Honda’s is largest in 30
- BOJ says must see stronger wage growth before policy change
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Two of Japan’s biggest automakers agreed to the biggest wage hikes in decades in an early sign of momentum in annual pay negotiations as the central bank looks for evidence of a wage-price cycle that could lead to policy change.
Toyota Motor Corp. agreed to give the largest wage hikes in two decades according to its union Wednesday. The world’s biggest carmaker said the agreement was reached at the first round of negotiations. It didn’t disclose a percentage increase.