Business | Feb 05

Major Steel Companies' Unions Demand Highest Wage Increase in Nearly 50 Years

TOKYO, Feb 05 (News On Japan) - This spring's labor negotiations will see labor unions of three major steel companies, members of the Basic Industry Workers' Federation, compile a policy proposal demanding wage increases of about 30,000 yen per month, which amounts to a base pay raise equivalent and marks the highest level in nearly 50 years.

The Basic Industry Workers' Federation, which includes unions from the steel, heavy industry, and shipbuilding sectors, held a press conference on the 5th to present a policy proposal seeking wage increases of at least 12,000 yen per month as a base pay equivalent. Specifically, the labor unions of the three steel giants—Nippon Steel, JFE Steel, and Kobe Steel—have compiled a policy proposal demanding a monthly increase of 30,000 yen. This request is the highest since the impact of the oil shock-induced price increases in 1975, nearly 50 years ago. Additionally, labor unions of heavy industry leaders such as Mitsubishi Heavy Industries and IHI are aiming for a monthly increase of 18,000 yen, while those from non-ferrous metal giants like Mitsubishi Materials are seeking a raise of 15,000 yen per month.

Tsuneo Tsumura, the central executive chairman of the Basic Industry Workers' Federation, stated, "We have asked for consideration on what kind of demand policy to establish, from the perspective of price increases and the continued improvement of wages. We want to assertively negotiate with the stance of firmly achieving what we have demanded."

Source: NHK


MORE Business NEWS

Uniqlo, a leading clothing retailer, has announced the start of used clothing sales at its Tenjin store in Fukuoka City, a first for the brand in Kyushu.

With Japan's Nikkei hovering close to the 40,000 mark, market experts point out that the increasing trend of "stock splits" in recent years is supporting these higher stock prices.

As Japan begins overtime regulations for drivers, popular bus tours are now being forced to reconsider their routes.

POPULAR NEWS

Four men have been arrested by Tokyo police for allegedly recruiting women for prostitution in the United States via a website, promising encounters with affluent clients and high earnings.

For the first time in 73 years, Japan has unveiled a newly constructed whaling mother ship, equipped with drone technology for whaling operations in the Antarctic Sea.

The Liberal Democratic Party (LDP) in Nara Prefecture has disciplined its former Youth Division Chief following a controversial dance party incident.

Residents of Japan's oldest student dormitory, self-managed for over 100 years, are digging in as Kyoto University attempts to evict them from the premises.

A Japan Airlines flight en route from Melbourne to Narita Airport encountered sudden severe turbulence on April 1, causing injuries to several cabin crew, including a broken leg.

FOLLOW US