Toyota Shocked That Japanese Unions Want Such A Big Portion Of Record Profits

Toyota Motor Corp., Japan’s largest manufacturer and employer, said the wage increases labor unions have demanded going into annual negotiations this year were “surprisingly high.”

The carmaker will wait until the negotiations are finished before saying whether it will agree to the requests, Senior Managing Officer Naoki Miyazaki told reporters Wednesday in Toyota City, Japan. He said improvement in Japan’s economy and the need to boost personal spending will be considered in the talks.

Toyota this month reported profit quintupled last quarter and raised its forecast for the year ending March 31 to an unprecedented 1.9 trillion yen, as economic policies under Prime Minister Shinzo Abe weaken the yen and boost earnings from cars exported out of Japan. Abe has urged companies to raise wages faster than gains in the cost of living, as rising consumer prices risk undermining his public support.

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TheSteve - 2/19/2014 9:23:09 PM

+1 Boost

Of course Toyota has to say they're shocked. Do you think they'd report "we knew those leeches would try to gouge us with unrealistic demands"?

Runamukk - 2/20/2014 8:55:00 AM

0 Boost

you mean workers would like more money?

quizz - 2/20/2014 12:59:20 PM

+1 Boost

LOL "shocked" is so comical, but funnier still, I'm certain that the Japanese management culture is soooo out of touch with the common man that they absolutely expected subservience without complaint.

xjug1987a - 2/21/2014 11:31:38 AM

+1 Boost

Japan has been in recessions in the last 15 yrs and the only way any company in Japan is really making money is due to the Japanese Govt maniuplating their Yen. They're doing so in order to keep their industries healthy and generating profits to keep the nation alive. If they were not doing so Japan as a whole would not have nearly the status it does, as a global economic or Mfg force. Currently 70% of Japanese cars sold in the USA are made here, union free too. I looked everywhere to see what percentage of cars are still actually made in Japan and couldn't find anything other that the 70% figure. However at this point the employee's need to be grateful they have jobs at this point... also, I've read about a dozen articles stating the unions will likely not get a thing... That said, the employees need to determine their OWN futures, and find something to do that's more secure, and pay's better. They could be the next Australia when it comes to Automobile production.