Japanese Firms Propose 5.01 Percent Average Wage Increase, Slightly Below Last Year

Japanese firms proposed an average wage increase of 5.01 percent during the current round of negotiations, according to final survey results released by Rengo, the country's largest union group. The proposed raise falls short of the 5.25 percent average offered in the prior year.

Rengo compiled the data from member unions and presented it as the concluding set of wage demands for the current bargaining round.

The survey covers negotiations between companies and organized labor across multiple sectors. No further details on individual industry outcomes or ratification timelines were included in the release.