Analysis-As inflation bites, Japan’s PM finds unlikely ally in labour unions

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Reuters UK

By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – As Japan faces its first major battle with inflation in decades, Prime Minister Fumio Kishida is extending a rare olive branch to labour unions, who he sees as crucial to his wider push to boost household wealth. Wage stagnation has blighted Japan’s workers for years as the country was mired in a deflationary mindset that stopped firms raising salaries, and as weakened unions shied away from demanding more pay. As part of his “new capitalism” platform to widen wealth distribution, Kishida has urged firms to boost pay and give households s…

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