Wage hikes are spreading among small companies in Japan, which account for about 70% of the country's employment, on the back of labor shortages and price increases, according to a government white paper.

At the same time, the 2024 White Paper on Small and Medium Enterprises in Japan said that such firms need to step up moves to pass on higher costs via pricing and secure sufficient funds to boost wages in order to achieve sustainable wage growth.

Source: https://www.japantimes.co.jp