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Marubeni signs 'green ammonia' deal with China's Envision Energy
Marubeni announced Tuesday that it has signed the offtake deal with Shanghai-based Envision Energy, the world's second-largest wind turbine manufacturer, from its plant in Inner Mongolia.
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The Mainichi
an hour ago
- The Mainichi
Japan's average pay ups over 5% for 2nd year in row amid price hikes
TOKYO (Kyodo) -- Japanese companies agreed to raise wages by an average 5.25 percent in this year's spring wage talks, the second straight year to exceed 5 percent, the country's largest labor union said Thursday, although salary growth failed to keep pace with ongoing inflation. The Japanese Trade Union Confederation, also known as Rengo, said its final tally of the results of pay negotiations from over 5,000 member unions found the average monthly wage hike stood at 16,356 yen ($110). The results came a year after wages increased by over 5 percent for the first time in 33 years. But wages among small- and medium-sized firms lagged behind their larger counterparts, rising by an average 4.65 percent, or 12,361 yen. "The scope (of companies) raising wages has expanded, but it's a shame that small to medium-sized firms have failed to reach 5 percent. We were unable to halt the growing gap," said Akira Nidaira, executive director at Rengo. The latest government data also showed real wages falling for the fourth straight month in April, as core consumer prices continued their upward trend. "The difference in profits and corporate resilience became glaringly apparent," said Shinichiro Kobayashi from Mitsubishi UFJ Research and Consulting Co., adding that smaller enterprises may struggle to recruit people because of the gap. Spring negotiation wage hikes had fallen below 3 percent since 1995, but grew to 3.58 percent in 2023. The final tally in 2024 was an average 5.10 percent as a whole, and 4.45 percent among small to medium-sized firms. Meanwhile, summer bonuses for union members in major companies hit a record average 990,848 yen, the highest since the current method of data collection was introduced in 1981, according to preliminary numbers from the Japan Business Federation. The figure rose 4.37 percent compared to the previous year, climbing for the fourth straight year.
3 hours ago
Summer Bonuses at Major Japanese Firms Hit New Record
News from Japan Economy Jul 3, 2025 20:24 (JST) Tokyo, July 3 (Jiji Press)--Summer bonuses at major Japanese companies this year rose 4.37 pct from last year to hit a new record high amid the rising cost of living, a report by the Japan Business Federation, or Keidanren, showed Thursday. The weighted average summer bonus among the surveyed companies stood at 990,848 yen, the highest since comparable data began in 1981, according to Keidanren's first tally of this year's summer bonuses. The average was up for the fourth straight year on a first-tally basis. Keidanren said that the result reconfirmed the strong momentum for wage increases. The initial tally covered a total of 107 companies from 18 industries, including 93 manufacturers and 14 nonmanufacturers. Manufacturers posted an average of 1,035,889 yen, up 4.49 pct, while nonmanufacturers logged 857,602 yen, up 3.76 pct. [Copyright The Jiji Press, Ltd.] Jiji Press
Kyodo News
3 hours ago
- Kyodo News
Japan seeks 8th round of tariffs talks in U.S. amid Trump impasse
TOKYO - The Japanese government has informed the United States that its chief negotiator intends to conduct an eighth round of ministerial-level talks in Washington early next week, a source close to the matter said Thursday. With President Donald Trump appearing to harden his stance ahead of next Wednesday's deadline for his administration's 90-day pause on country-specific tariffs, Japan's last-ditch effort will hinge on whether Ryosei Akazawa can secure a deal that includes a reduced tariff rate on cars, the source said. In rounds of talks since April, the United States has been reluctant to accept Tokyo's request to withdraw or reduce the additional 25 percent tariff on cars. Amid the stalemate, Japan is seeking an extension of the tariff suspension deadline to allow talks to continue. Trump, however, on Tuesday floated the idea of raising tariffs on imports from Japan to as high as 30 or 35 percent, while complaining about Japan's purchases of American rice and cars. "I'm not sure we're going to make a deal. I doubt it," Trump told reporters aboard Air Force One, calling Japan "very tough" and "very spoiled." The dispute over auto tariffs has been a key obstacle to a deal, with Washington also pressuring its Asian security ally to boost imports of U.S. farm products, including rice, cars and oil, to help reduce its large trade deficit. In return, Japan has highlighted its contributions to the U.S. economy and proposed a package deal that includes increased investment in the United States and cooperation on economic security, the source said. Without an extension to the 90-day pause on part of the so-called reciprocal tariffs, Japan will face an additional 14 percent country-specific tariff on top of the 10 percent baseline duty the United States has imposed on imports from all countries. Japanese Prime Minister Shigeru Ishiba is aiming to make progress in the tariff talks as campaigning for the House of Councillors election kicked off Thursday. The Wall Street Journal reported earlier this week that the United States warned Japanese officials during talks in late May that it might demand a cap on the number of vehicles Japan could export to the United States -- a policy known as a voluntary export restriction, citing people familiar with the matter. But Japanese officials held firm, telling their U.S. counterparts they would not accept any deal that preserves Trump's 25 percent automotive tariff, resulting in a deadlock in the negotiations, the U.S. newspaper said.
