Japanese companies boost wages in departure from 'lost decades'

Toyota, Nippon Steel agree to historic pay hikes ahead of BOJ meeting

WATARU SUZUKI and CHIHIRO ISHIKAWA, Nikkei staff writers

TOKYO -- Japan's largest employers announced record pay increases on Wednesday, signaling a break from the deflationary mindset that led to the country's prolonged period of low economic growth known as the "lost decades."

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