TOKYO: Major Japanese firms plan to return their excess cash to shareholders next year rather than spend it on wage rises, according to a Reuters survey, in a rebuke to Prime Minister Shinzo Abe's call for employers to lift salaries.
Arresting a 17-month slide in real wages is essential if Abe's economic stimulus policies are to succeed in boosting consumption and dragging the world's third biggest economy decisively out of decades of deflation and stagnant growth.
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