Financial Times FT.com

Japan exporters keep check on pay rises

By Mariko Sanchanta in Tokyo

Published: March 12 2008 19:05 | Last updated: March 12 2008 19:05

Japan’s leading exporters on Wednesday agreed to raise wages as part of the country’s annual spring salary negotiations but kept those increases in line with last year’s in a rebuff to both the government and unions.

Unions and politicians have complained that despite six years of record profitability at large exporters such as Toyota and Canon companies are not passing along their riches to company workers and therefore dampening domestic demand and consumption.

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