Uniqlo owner gives Japan Inc a wake-up call with 40% wage hike

Uniqlo owner gives Japan Inc a wake-up call with 40% wage hike

FILE PHOTO: Fast Retailing's fashion chain Uniqlo, at a shopping complex in Beijing, China May 24, 2020. REUTERS/Florence Lo/File Photo

Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, in the clearest sign yet that Japan’s rock-bottom salaries may be starting to budge after decades of deflation and cost-cutting.