Japan Firms' Wage Gains Slow on Export Risks From Trump, Brexit
- Pay raises at big companies down for second year, results show
- Cautious companies undermine BOJ campaign to end deflation
Japan Inc.'s Big Profits Didn't Translate to Wages
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Record profit at Japan’s biggest companies didn’t translate to big raises for wage earners at spring pay negotiations as prospects for exporters were clouded by risks to trade and growth in the U.S. and Europe.
Household names from Panasonic Corp. to Toyota Motor Corp., Nissan Motor Co. and Hitachi Ltd. announced smaller annual wage increases Wednesday for next fiscal year. The slower gains reflect rising concern among exporters about overseas markets following the election of President Donald Trump, said Takeshi Minami, chief economist at Norinchukin Research Institute.