Japan’s biggest business lobby, Keidanren, has urged companies to raise wages, following Kishida’s call for uniform pay hikes of 3% or more by profitable firms.
Rengo, Japan’s largest labour confederation, has demanded 4% wage hikes, including a 2% rise in base pay.
Toyota has remained upbeat about its full-year profit prospects as tight car supplies caused by a global chip shortage allowed Japan’s biggest automaker to charge its customers more.