Japan wage talks start amid hopes for return to 'virtuous cycle'

Big companies vow major hikes, but small businesses are hesitant

20240123 Commuters in Tokyo

Spring wage negotiations have started, with policymakers and union leaders hoping wage increases continue this year. (Photo by Nanami Sato) 

WATARU SUZUKI and CHIHIRO ISHIKAWA, Nikkei staff writers

TOKYO -- Business executives and labor union leaders across Japan kicked off negotiations to set wages for the new fiscal year, with continued inflation and strong corporate earnings raising hopes for the largest pay hike in three decades.

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