Japan Inc cuts wage hike

Smaller increase: An employee walks past a Toyota logo at a showroom in Tokyo. Toyota has agreed to increase monthly base salaries 1,500 yen (US$13) in the year beginning April, compared with a 4,000-yen hike this fiscal year.

Companies struggling with slowing profit growth

TOKYO: Japan’s major companies are giving lower wage increases next fiscal year as Prime Minister Shinzo Abe’s efforts to boost the economy falter.