Japan’s Matsuno welcome various companies’ policies for wage hikes

Japan’s Chief Cabinet Secretary Hirokazu Matsuno delivered comments on the hike in wages by the Japanese firms while expressing his displeasure on China’s visa suspension to Japan.

Key quotes

Welcome various companies’ policies for wage hikes, including Fast Retailing’s.

Hope for maximum wage increases from companies.

Have asked China to lift visa suspension.

To respond appropriately based on China’s coronavirus situation and its information disclosure.

Lodged protest to China over visa suspension.

Regrettable that China has taken visa suspension action for reasons other than covid.

His comments come after Uniqlo operator Fast Retailing announced that it will increase annual pay for full-time employees in Japan by up to around 40% in March.

Market reaction

USD/JPY was last seen trading at 132.45, adding 0.14% on the day.