Canon to conduct 1st pay-scale hike in 20 yrs
7:50 JST, December 28, 2022
TOKYO (Jiji Press) — Canon Inc. said Monday that it will raise its monthly pay scale by ¥7,000 in January for all of its some 25,000 employees, its first pay-scale hike in 20 years.
The electronics company has not increased its pay scale since 2004, adopting a salary system in 2005 that sets wages based on the jobs of employees.
But the company opted to raise the pay scale this time to support the livelihood of its employees amid soaring prices, which are likely to continue for the time being.
"Business" POPULAR ARTICLE
-
Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
-
Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
-
70% of Japan Companies to Raise Pay Scales in FY 2024
-
48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
-
Core Consumer Prices Rise 2.8% in Fiscal 2023
JN ACCESS RANKING
- Weakening Yen Adds Complexity to BOJ’s Rate Hike Decisions; Rising Commodity Prices may Impact ‘Virtuous Cycle’ Efforts
- Japanese Seafood Exports to China Sink 57% in FY23; U.S. Becomes Largest Seafood Export Destination
- 70% of Japan Companies to Raise Pay Scales in FY 2024
- 48.6% of Global Patent Applications Related to All-Solid-State Batteries Came from Japanese Firms; Panasonic Tops List
- Core Consumer Prices Rise 2.8% in Fiscal 2023