Japan Eyeing 5-Year Plan to Aid Wage Hikes at Small Biz
Tokyo, May 14 (Jiji Press)--The Japanese government Wednesday presented a draft of a five-year plan aimed at promoting wage hikes at smaller businesses.
The draft, unveiled at a meeting on the government's New Capitalism initiative, calls for productivity-enhancing investments totaling around 60 trillion yen by the public and private sectors over the five years through fiscal 2029.
It also includes individualized support for 12 sectors facing severe labor shortages such as the restaurant, lodging and retail industries.
Prime Minister Shigeru Ishiba's administration regards wage hikes as the cornerstone of Japan's growth strategy and plans to raise the national average of minimum wages to 1,500 yen per hour within this decade.
With persisting inflation and the United States' high tariff policy threatening to dampen momentum for wage rises, the government will focus its aid on small businesses, which account for 70 pct of domestic employment.
(2025/05/14-20:38)
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