Japan to Raise Minimum Wage by Three Percent to Boost Consumption
Starting in the next fiscal year, Japan will begin to raise the minimum wage for workers by 3% each year. This incremental wage increase is an effort to stimulate economic growth and consumer spending. In addition to these wage increases, the country will put more emphasis on women in the workforce and reduce regulations around corporate investments. These policies will also help Japan to move closer to the 2% inflation target it has set. Domestic demand is expected to increase as a result and should pull Japan out of the deflation it has been experiencing for 15 years.
See "Japan to Raise Minimum Wage by Three Percent to Boost Consumption", Stanley White, November 24, 2015