Uniqlo parent Fast Retailing Co gives jolt to Japan Inc with 40% wage hike

Uniqlo parent Fast Retailing Co Wednesday said it would raise wages by as much as 40 per cent, a clear sign that Japan’s rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.
 
The move by the firm is likely to heighten focus on worker pay ahead of annual spring labour negotiations. But it looks unlikely that the rest of Japan Inc will deliver increases on the same scale.
 
PM Fumio Kishida has repeatedly called for firms to increase wages, a plea that has gained urgency as prices have surged, leading to increases in the