Annual salaries in Japan are also on an upward trend these days

“Salaries are rising despite the recession”… Why the number of Japanese large corporations with average annual salaries exceeding 10 million yen is increasing. Seoul Economic Daily. As the average annual salary of large Japanese corporations rose by 4.1% in one year, the number of companies exceeding an average of 10 million yen (approx. 85 million KRW) increased to 76. This is the result of companies raising both base pay and performance bonuses amid a prolonged labor shortage. The Nikkei reported on the 29th, analyzing securities report data from market research firm QUICK.
As the average annual salary of large Japanese corporations rose by 4.1% in one year, the number of companies exceeding an average of 10 million yen (approx. 85 million KRW) increased to 76. This is the result of companies raising both base pay and performance bonuses amid a prolonged labor shortage.
The Nikkei reported these results on the 29th after analyzing data from market research firm QUICK's securities reports.
The subjects were 741 listed companies with more than 1,000 employees (2.72 million employees). Based on the fiscal year from July last year to June this year, the average annual salary was 8.19 million yen (approx. 69.38 million KRW), a 4.1% increase from the previous year. Competition for talent acquisition and strong business performance are cited as the background for this rise.
The number of companies with an average annual salary of 10 million yen or more increased by 18 (30%) compared to the previous year, exceeding 10% of the survey subjects. Toyota Motor, Fujitsu, IHI, Daiwa House Industry, and Japan Airlines (JAL) newly made the list this year.
The number one spot went to sensor manufacturer Keyence with 21.78 million yen (approx. 184.51 million KRW). Mitsubishi Corporation (21.12 million yen) and Mitsui & Co. (20.58 million yen) followed.
It would be perfect if they could just fix the weak yen, but the wage gap between large corporations and SMEs is widening massively, just like in our country.