Record rise for summer bonuses this year in Japan. Bonus per worker averages about $8,800
- Listed: 05/29/2014 9:54 am
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Record rise for summer bonuses this year
Date: May 29, 2014
Source: NHK World
Many big companies in Japan will hand out bigger employee bonuses this summer, thanks to a recovery in their business. The Japan Business Federation conducts an annual survey on bonus payments by major companies listed on the first section of Tokyo Stock Exchange.
74 companies have responded so far this year. Their bonus per worker averages about 8,800 dollars. That’s a jump of 8.8 percent in yen terms from a year ago. It’s the biggest year-on-year increase since comparable data became available in 1981.
Breakdowns by industry show that payments by automakers will mark a record surge of 16.7 percent, as the weaker yen has improved their results. Bonus payments are up 7.9 percent at textile firms, and 6.5 percent at electronics makers.
Federation officials say many other companies that have not yet responded are likely to offer bigger bonuses this summer.
Date: May 30, 2014
Source: NHK World
A government survey shows that more than 40 percent of large firms in Japan raised the base pay of their employees this spring.
The Economy, Trade and Industry Ministry polled 1,762 firms listed on the Tokyo Stock Exchange over their annual spring wage negotiations. More than 900 of them responded.
The ministry found that 43 percent gave base pay raises this year. That was a big jump from only 6 percent last year.
Many carmakers, as well as electronic and machinery manufacturers, were among these companies. The yen’s decline helped improve their performances.
38 percent said they raised base salaries for the first time since the global financial crisis of 2008.