Fast Retailing, the owner of the Japanese fashion retailer Uniqlo, said it will raise salaries in the home country by 40 percent, a move that comes after the government and the Bank of Japan governor urged Japan Inc. to consider wage hikes in the backdrop of rising inflation and cost of living.
The Yamaguchi, Japan-based clothing company said it is raising salaries "to remunerate each and every employee appropriately for their ambition and talents, as well as increase the company's growth potential and competitiveness in line with global standards."
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by Jyotsna V
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