January 23, 2017 / 1:16 AM / 3 years ago

Japan Inc plans no wage hike, wary about excess yen weakening under Trump: Reuters poll

Japan's Prime Minister Shinzo Abe makes a policy speech at the start of the ordinary session of parliament in Tokyo, Japan, January 20, 2017. REUTERS/Toru Hanai

TOKYO (Reuters) - Nearly two-thirds of Japanese firms are considering no wage hikes this year, a blow to Prime Minister Shinzo Abe’s campaign for wage growth to ensure a sustainable recovery and a way out of two decades of deflation, a Reuters poll showed.

The Corporate Survey also found Japanese companies believe that neither U.S. President Donald Trump nor Prime Minister Shinzo Abe wants to see the yen weaken significantly, out of concerns that this could spark an unwelcome political backlash.

Reporting by Tetsushi Kajimoto; Editing by Richard Borsuk

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