Japan's Daiwa aims to raise wages at least 5% next year to attract talent
Japan's Daiwa Securities is aiming to raise wages by at least 5%, its chief executive officer said, a faster rate than many Japanese firms expect as the country's shrinking labour pool intensifies competition for talent. Daiwa is discussing a pay raise of at least 5% for the financial year beginning in April 2025, CEO Akihiko Ogino told Reuters, after hikes of 5%, 4% and 7% in the three years prior. Daiwa is also considering increasing the starting monthly base wage - not including bonuses - for career-track employees to 300,000 yen ($1,920) from 290,000 yen, subject to negotiations between employees and management.