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Uniqlo boss hopes big raises shake up stale corporate culture

Fast Retailing's Tadashi Yanai to lure digital talent from U.S. tech giants

Tadashi Yanai, the president and chairman of Fast Retailing, speaks to Nikkei in Tokyo on Jan. 20. (Photo by Mayumi Tsumita)

TOKYO -- Fast Retailing CEO Tadashi Yanai hopes the recent decision to raise wages by up to 40% helps Uniqlo and the company's other retailers break a staid status quo, he told Nikkei on Friday.

The casualwear brand announced that it would raise the annual salary of its 8,400 or so employees in Japan by up to around 40%, a rare move in a country where companies are generally reluctant to raise wages.

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