Honda, Mazda Agree to Union Demands in Annual Labor Wage Talks

Honda Motor Co. and Mazda Motor Corp.’s managers agreed to all of the wage demands by their workers’ unions, agreeing to raise compensation from a year earlier as inflation pressures businesses in Japan to pay their employees more.

In total, Honda will raise wages by 5.6% and pay a bonus equal to 7.1 months worth of salary for workers, Japan’s second-biggest carmaker said on Wednesday. Mazda will raise wages by 6.8%. Toyota Motor Corp. also met with its union on Wednesday, but didn’t offer a response to demands, pushing talks to next week, when they are scheduled to meet on Feb. 28.