ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Japan steelmakers deny pay hikes as trade war saps demand

Nippon Steel, JFE and Kobe Steel freeze base wages for first time in 7 years

Nippon Steel's Kimitsu Works: The steel industry is facing sluggish demand from automakers and other manufacturers as the global economy slows. (Photo by Kotaro Igarashi)

TOKYO -- Japan's top steelmakers will not raise base pay for the first time in seven years as the protracted trade war between the U.S. and China squeezes global demand.

Nippon Steel, JFE Steel and Kobe Steel will inform unions of their decisions Wednesday. The decision by the steel groups, which also will not offer raises in fiscal 2021, could impact wage negotiations in other industries as well.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more