Japan reported on Friday its worst real-wage decline in more than eight years, with November data highlighting the elusiveness of the central bank's objective of reinforcing inflation and the economy with sustained rises in workers' pay.
With record profits, Japanese firms have piled up internal cash and other reserves that by September were worth 500 trillion yen . In the wage talks, due to end in March, the companies are expected to offer pay rises of around 2.7%, versus the previous year's 2.07%.
Sluggish wage recovery remains a pressing issue for Japan as surging living costs hurt households and weigh on consumer spending in the economy, the world's third largest.
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