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Inflation

Mitsubishi Motors joins ranks offering inflation bonuses to workers

But one-time assistance may ease the pain less than raises

About 12,000 employees of Mitsubishi Motors will receive 100,000 yen ($722) to help them cope with inflation, and 2,000 nonregular workers will get 70,000 yen. (Photo by Takaki Kashiwabara)

TOKYO -- Mitsubishi Motors will offer one-time bonuses of up to 100,000 yen ($722) to help employees deal with inflation, joining a growing list of Japanese companies providing financial assistance.

The automaker will distribute the allowances Friday. About 12,000 regular and other nonmanagerial employees will receive the full 100,000 yen lump sum. Another 2,000 nonregular workers will receive 70,000 yen. The payments are expected to cost 1.3 billion yen overall. Mitsubishi Motors projects that consolidated net profit will rise 89% on the year to 140 billion yen for the fiscal year ending March 2023 -- a new record. It saw a need to boost workers' morale by supporting their livelihoods. The annual income of the average unionized worker will rise by 10% when other bonuses are included.

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