(Photo by Kazuhiro NOGI / AFP) (Photo by KAZUHIRO NOGI/AFP via Getty Images)At Japan's highly anticipated "shunto" spring wage negotiations this year, the world's largest automaker Toyota agreed to the biggest annual pay increase for workers in 25 years.
Market speculation reached fever pitch this week as various corporate giants announced robust negotiated salary increments that in some instances exceeded what unions petitioned for.
Bank of Japan Governor Kazuo Ueda has repeatedly said the outcome of this year's wage negotiations will influence the central bank's decision on when to exit the world's last negative interest rate policy.
Japan's largest trade union grouping, known as Rengo, will announce the first collation of ongoing wage negotiations on Friday.
Here's what you need to know about this year's spring wage talks, which takes place annually in March.
Persons:
Kazuhiro NOGI, KAZUHIRO NOGI, Kazuo Ueda
Organizations:
Bank of Japan, The Bank of Japan, Getty, Toyota
Locations:
Tokyo, AFP