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Uniqlo operator to boost annual pay in Japan by up to 40%

Fast Retailing expects its labor costs in the country to rise by 15%

A Uniqlo store in Tokyo's Ginza shopping district. Fast Retailing's employees in Japan currently make less than those in places like the U.S. (Photo by Shihoko Nakaoka)

TOKYO -- Uniqlo operator Fast Retailing will increase annual pay for full-time employees in Japan by up to around 40% in March, closer to the clothier's wages in markets like Europe and the U.S., so it can deploy talent more flexibly worldwide.

The plan affects around 8,400 people, both at Fast Retailing headquarters and at the company's stores. Starting monthly salaries will increase to 300,000 yen ($2,270), from 255,000 yen currently. Salaries for new store managers, who typically have been at the company for a year or two, will rise to 390,000 yen from 290,000 yen.

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