The Japanese spring wage offensive typically takes place in February to March and this is why you are seeing Kishida pushing hard for companies to increase wage growth this coming fiscal year. As Japan is grappling with rising inflation, there is also added pressure on policymakers and lawmakers to do something more and that is why Kishida is trying to sell the above narrative.
Japan PM Kishida: There are stagflation concerns if wage growth lags behind price increase
- Kishida continues to call on Japanese firms to bump up wages
