This is with regards to the Japanese Association of Metal, Machinery, and Manufacturing Workers (JAM) trade union, which mainly comprises of small and medium-sized manufacturing firms across Japan. It is being reported that they will be demanding a base salary hike of ¥15,000 or more in the upcoming spring wage negotiations.
For some context, that will be at least an increase of ¥3,000 compared to what was demanded this year. And that will make it the highest ever wage hike from the industry union. It is being reported that the target though, will be to call for a total wage increase of more than ¥19,500.
The backdrop here will be another positive for the Japanese government and the BOJ. That especially as the central bank will look to this as "proof" of rising price pressures to normalise monetary policy further.
