Takeshi Niinami is the CEO of Suntory but he also serves as the head of the Keizai Doyukai business lobby – one for leading executives – and also the head for Japan’s chamber of commerce and industry. He is out saying that wage growth this year at big firms will likely match levels similar to that of last year.
Meanwhile, the number of smaller and medium-sized firms that will raise wages should also rise slightly for this year.
That’s a positive takeaway or at least in terms of expectations ahead of the crucial spring wage negotiations that will conclude in March. The BOJ is looking to that as a key development in the timeline to reaffirm their rate hike expectations.