TOKYO: Japanese Prime Minister Fumio Kishida used his visit to Tokyo's auto show on Thursday (Oct 26) to call for the private sector's help in ensuring the economy makes a "total break" with its deflationary past.
Japan's Prime Minister Fumio Kishida speaks to media as he annnouces that the government would release some of its oil reserves in concert with the United States, at his official residence in Tokyo, Japan on Nov 24, 2021. TOKYO: Japanese Prime Minister Fumio Kishida used his visit to Tokyo's auto show on Thursday to call for the private sector's help in ensuring the economy makes a"total break" with its deflationary past.
"I would like the public and private sectors to join forces and work toward a total break from deflation," Kishida said. Major companies have agreed to average pay hikes of 3.58 per cent this year, the highest increase in three decades. Last November Kishida met with auto industry leaders at his official residence and asked for their cooperation with wage hikes.