Japan's large corporations save 39-trillion yen by cutting 60,000 jobs
Japan's 20 major corporate groups in the last two years increased their savings by more than two trillion yen to about 39 trillion yen in the name of "internal reserve", while slashing more than 60,000 jobs.
The National Confederation of Trade Unions (Zenroren) recently published the result of a survey of these corporations and said that large corporations must give these earnings back to society through wage increases and the creation of more full-time positions.
Chairman of the Japan Business Federation (JBF or Nippon Keidanren) Okuda Hiroshi has said, "For Japanese corporations to survive global competition, it's necessary to cut wages," but the Zenroren survey has revealed that his argument was groundless.
The company that increased its internal reserve the most is Hitachi, Ltd. with 931.2 billion yen, followed by Toyota Motor Corporation and Nissan Motor Co., Ltd.
| major 20 companies |
consolidated
internal reserve(billion yen) |
employees
|
| Nippon Steel Corporation |
544.1 |
49,400
|
| NKK Corporation |
195.9 |
25,653
|
| Hitachi, Ltd. |
4261.1 |
320,528
|
| Toshiba Corporation |
1698.6 |
165,776
|
| Mitsubishi Heavy Industries, Ltd. |
1106.8 |
61,292
|
Ishikawajima-Harima Heavy
Industries Co., Ltd.
|
251.2 |
23,575
|
| Nissan Motor Co., Ltd. |
2270.7 |
119,988
|
Toyota Motor Corporation
|
8522.4 |
264,096 |
| Ito-Yokado Co., Ltd. |
1157.6 |
47,417
|
| East Japan Railway Company |
1353.8 |
78,760
|
| Kinki Nippon Railway Co., Ltd. |
5.3 |
38,851
|
| Yamato Transport Co., Ltd. |
344.4 |
112,948
|
| Tokyo Electric Power Co., Inc. |
3627.5 |
52,322
|
| Kansai Electric Power Co., Inc. |
2114.3 |
35,554
|
| Mitsubishi Corporation |
1303.4 |
47,370
|
| Kajima Corporation |
182.1 |
17,376
|
| Japan Airlines Co., Ltd. |
173.9 |
45,891
|
Nippon Telegraph and Telephone Corporation
|
7423.1 |
207,363
|
| Millea Holdings, Inc. |
980.7 |
14,408
|
Mitsubishi Tokyo FinancialGroup, Inc.
|
1634.4 |
44,544
|
| total |
39151.3 |
1,773,112
|
|
Top 10 companies |
increase in consolidated internal reserve (billion yen)
|
| 1 |
Hitachi, Ltd. |
931.2
|
| 2 |
Toyota Motor Corporation |
580.5
|
| 3 |
Nissan Motor Co., Ltd. |
426.0
|
| 4 |
Mitsubishi Corporation |
337.1
|
| 5 |
Sony Corporation |
305.5
|
| 6 |
Toshiba Corporation |
260.2
|
| 7 |
Daiei, Inc. |
251.7
|
| 8 |
Tokyo Electric Power Co., Inc. |
214.6
|
| 9 |
Takeda Chemical Industries, Ltd. |
213.9
|
| 10 |
NEC Corporation |
213.4
|
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