Japan to set minimum wage target next summer: Takaichi
Japanese Prime Minister Sanae Takaichi said Monday (December 15) that the government will consider a new minimum wage target in detail by next summer, when it will release a new growth strategy.
- Japan will set a new minimum wage target next summer, according to a statement by Takaichi.
- Takaichi emphasized that her cabinet will take stronger measures than past administrations to ensure minimum wage growth.
- The government is encouraging companies to increase wage distribution to workers instead of holding onto large cash reserves.
- A revision of the country's Corporate Governance Code is being considered as a method to facilitate these wage increases.
She remarked on the Budget Committee of the House of Councillors, the upper chamber of the Diet, Japan's parliament, which discussed the fiscal 2025 draft supplementary budget with Takaichi and all her cabinet members in attendance.
The ruling parties plan to vote on the supplementary budget at the Budget Committee and Upper House plenary meetings slated for Tuesday.
Takaichi emphasised that her cabinet will take stronger measures than past cabinets to ensure minimum wage growth.
"It's important for companies not to hold too much cash and deposits but to increase distribution to workers," she said, reiterating her intent to strengthen such moves through a revision of the country's Corporate Governance Code.
[Copyright The Jiji Press, Ltd.]
