Japan PM Abe urges firms to raise wages by 3 percent or more

TOKYO (Reuters) – Japanese Prime Minister Shinzo Abe said on Tuesday that he wanted companies to raise wages by 3 percent or more in next year’s wage negotiations.

“We must sustain and strengthen Japan’s positive economic cycle next year to achieve our long-standing goal of beating deflation,” Abe said in a speech at a meeting of business lobby Keidanren.

“For that, I’d like to ask companies to raise wages by 3 percent or higher next spring,” he said.

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