Japan annual wage talks begin as pay hikes demanded to beat inflation

Japan's annual wage negotiations kicked off on Wednesday, as the country's most powerful business lobby vows pay hikes that outpace price rises in line with Prime Minister Fumio Kishida's repeated calls to rejuvenate the inflation-plagued economy.The Japan Business Federation is urging its member companies to offer pay increases larger than last year's 3.99 percent hike during this year's wage talks.The Japanese Trade Union Confederation, or Rengo, aims to achieve a pay hike of 5 percent or higher, compared with its goal of around 5 percent in the 2023 wage negotiations.Leaders of the busin…READ FULL ARTICLE