Japanese beverage maker Suntory Holdings has announced it is raising workers’ pay by around 7 percent from next April. That is in line with this year’s increase, and will apply to both basic salaries and annual wages.
It is the third year in a row for Suntory to raise pay.
The company says it is announcing a significant increase at an early date to be in a strong position in the coming negotiations to ensure it has the workers it needs.
President and CEO Niinami Takeshi said in a statement that it is important to affirm wages should keep rising faster than prices. He added that he wants to see steady gains throughout society to drive a positive economic cycle.
Data from labor unions show this year’s negotiations led to an average increase of 5.1 percent. That was the highest in 33 years.
The focus now is on whether paychecks will keep going up next year, in light of steadily rising prices.