Reuters conveying info from Japanese media.

That headline is not clear. I am not sure if Toyota has accepted the wage hike demand (circa 5.5%). ADDED - looks like Union wage demands have been met.

OK, more:

  • Toyota responded in full to the Toyota Automobile Workers' Union's demands for wages and annual lump-sum payments (bonuses), which were at record high levels.
  • This is the fourth consecutive year that Toyota has responded in full.  
  • In this spring campaign, the labor union is demanding the highest wage increase since 1999, when comparisons were made, against the backdrop of strong business performance and high prices.
  • The amount of wage increases requested varies by job type and rank, but the maximum amount is 28,440 yen per month.
  • The requested annual lump sum amount was equivalent to 7.6 months of standard wages, which was the highest amount on record, exceeding last year's request for 6.7 months.  
  • The amount of wage increases for all employees and the level equivalent to the base increase (bear) are not disclosed.

This increases the chance of a Bank of Japan tightening at its March 18 and 19 policy meeting. Yen supportive!

Yen is up a little:

usdyen toyota wages 13 March 2024 2