TOKYO -- Major Japanese companies including Honda Motor agreed Wednesday to fully meet their labor unions' wage demands in this year's spring negotiations, as they seek to bring relief to workers amid inflation and remain competitive in a tight labor market.
Honda, which reached an agreement in the first round of talks for a second straight year, agreed to requests totaling 20,000 yen ($133) in monthly pay raises, including base pay and seniority-based hikes. It will also reallocate funding from past agreements to bring the total to 21,500 yen, a 5.6% boost.
