March 14, 2018 / 5:23 AM / 9 months ago

Toyota agrees to monthly wage hike of more than 1,300 yen in coming year

FILE PHOTO: The logo of Toyota Motor Corp. is seen on a company's Corolla car in Caracas, Venezuela October 25, 2017. REUTERS/Marco Bello /File Photo

TOKYO (Reuters) - Toyota Motor Corp (7203.T) has agreed to increase base monthly salaries by more than 1,300 yen (8.73 pounds) for the year beginning April, according to the automaker’s union.

The increase by Japan’s largest automaker, considered a bellwether in the nation’s annual wage negotiations, would mark the fifth consecutive year of salary rises, but is less than 3,000 yen demanded by its union and is well below the 4,000 yen given in 2015.

Reporting by Yoshiyasu Shida; Editing by Sam Holmes

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