Author: Leica Kihara
TOKYO (Reuters) – A wide range of Japanese companies see the need to continue raising wages due to a structural labor shortage, the Bank of Japan said on Thursday.
In a statement analyzing regional economies, the central bank added that many areas had seen rising prices from companies looking to generate revenue to pay higher wages.
Some companies said they had yet to decide how much they would raise wages this year, while other smaller firms remained cautious about raising wages due to the impact of higher costs on profits, the BOJ said in a statement.
“On the other hand, some companies have already discussed the details of the pace of rate increases. Taken together, there have been many reports suggesting that a wide range of companies see the need to maintain wage increases,” it said.
