Economy minister Yoji Muto on Wednesday called for business leaders to continue to raise wages this year to put the country’s economy on a sustainable growth path.
In this year’s shuntō spring wage talks, employers “should need to maintain the momentum of last year” when wages rose at the fastest pace in three decades, Muto said in a meeting in Tokyo with business leaders, including Masakazu Tokura, chairperson of the Japan Business Federation, or Keidanren.
“Now is the time to step on the accelerator on wages and investment in order to transition to a growth-oriented economy,” Muto said.
Tokura said the business community will cooperate with the government to ensure sustainable economic growth.
On U.S. President Joe Biden’s rejection of the proposed sale of United States Steel to Nippon Steel, Muto said that it is extremely important to create an environment in which Japanese companies can make investment decisions with a sense of security.
