Winter bonuses at major Japan firms see modest rise

Winter bonuses at major companies in Japan in 2023 rose 0.78% from a year earlier to ¥849,545 on average, the labor ministry said Friday.

The average increased for the second year in a row, though at a slower pace than the 7.77% growth marked in winter 2022 amid economic recovery from the COVID-19 pandemic.

Eleven of 21 sectors surveyed saw increases, including shipbuilders, with a 6.25% jump, and food and tobacco firms, with a 6.19% gain.

On the other hand, firms in the services industry logged a decline of 11.63%, and machinery-makers showed a decrease of 7.05%.

The data was collected from 331 companies with labor unions, 1,000 or more employees, and capital of ¥1 billion or more.