Japanese Prime Minister Kishida urges companies to raise wages by 3% or more

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TOKYO: Japanese Prime Minister Fumio Kishida on Friday urged companies whose profits have returned to pre-pandemic levels to raise wages by 3% or more in their union negotiations next spring as he aims to achieve a virtuous circle of growth and distribution of wealth.

Kishida said during his panel meeting on “New Capitalism” that the government would help take action to encourage companies to reverse the recent trend of lower pay increases.

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(Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim)

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