Summer bonuses plunge record 16.6 percent in Japan

TOKYO (AFP) --

Summer bonuses at Japanese companies have plunged a record 16.6 percent on average this year, the second straight year of decline, according to a recently released survey.

The poll was conducted by the Nikkei business daily, covering some 700 listed and major non-listed firms in Japan, where bonuses are traditionally provided twice a year -- summer and winter.

The poll showed that the average bonus this summer stood at 701,012 yen (7,579 dollars) per employee, some 140,000 yen lower than in 2008, as 78 percent of the firms polled said they were giving less cash than last summer.

More than half the firms were trimming their payouts by more than 10 percent as they are still struggling to survive the nation's worst post-war recession, the Nikkei said.

Japan's video game giant Nintendo Co., which logged a record profit for the fiscal year to March 2009, came top in the big-bonus ranking, the Nikkei said.


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Published: Sunday 12th of July 2009 12:37:04 AM
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