- Business federation feeling immense pressure over wage hikes
- Have to devote energy to wage hikes including small firms much more than last year
- Should not make wage hike as only one-off event
Tokura is speaking more so as to not upset the balance of the order in the system. Large-scale wage hikes have been something not to be expected in Japanese working culture. So, if the government and BOJ is pressuring businesses and then not following through by normalising policy, it would create a bit of a mishmash for business and worker expectations.
