The Japanese economy is looking up gradually. The 2007 real annual growth rate 2% is reachable. It is very likely that the US economy makes a soft landing soon and it gives the Japanese export new momentum.
Taking key factors such as the productivity, the cash flow and the long-term business strategy into good consideration, every Japanese company should decide the pays and wages through its own labor-management negotiation. In this process, special profit should be given to employees in the form of bonus rather than pay/wage raise.
Based upon the fruitful result of our latest mission to Australia from Feb 3 through Feb 8, Keidanren will work harder on the Japanese government and parties concerned to realize an Economic Partnership Agreement (EPA) of Japan and Australia in the near future.