Japan’s Kishida urges companies to give wage hikes that exceed inflation

TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida on Wednesday urged companies to increase wages faster than the rate of inflation.

“In the past 30 years, wages did not rise much despite robust corporate profits. Corporate wealth did not trickle down (to households),” Kishida said in a news conference.

“I would like to create an economic structure in which wages rise every year,” he said.

(Reporting by Leika Kihara)