Toyota to raise Japan salaries for first time since 2008

|About: Toyota Motor Corporation (TM)|By:, SA News Editor

Toyota (TM) has agreed to raise base salaries for its Japanese workers for the first time in six years amid soaring profits at the company, with staff set to receive an average increase of 2.9%.

Other firms are also increasing wages, including Honda (HMC), Nissan (NSANF), Nippon Steel & Sumitomo Metal (NISTF), retailer Lawson and Daiwa Securities Group (DSEEY).

The pay increases signal how major companies are paying heed to the government's exhortations to lift wages as part of the battle against deflation.

Separately, Toyota has issued $1.75B of "green" bonds linked to auto loans that will be used to help finance vehicles that are powered by hybrid or alternative fuel.

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