Nippon Life to raise base pay for 1st time in 23 years

March 9, 2018

Tokyo- Nippon Life Insurance Co. has told its labor union in this year's "shunto" labor-management negotiations that it plans to increase base wages for the first time in 23 years, it was learned Thursday.

The major Japanese life insurer will increase its desk workers' monthly salaries by 1,000 yen and their bonuses by 3 pct, informed sources said. Their annual income will go up 3.2 pct, including the pay-scale hike and regular pay increases, according to the sources.

Nippon Life also plans to raise sales employees' performance-based pay, the sources said. Jiji Press