boj minutes, 2023-12-19
One of these members expressed the view that, amid environmental changes surrounding firms, including globalization, the declining population, and the yen's appreciation, Japanese firms had lagged behind reforms in their business models, and business management that emphasized cutting costs had taken hold against the background of the lingering management philosophy that had become entrenched during Japan's high-growth era -- namely, the idea that "wage increases stemming from improved labor productivity should be absorbed by firms' efforts, including the containment of costs through mass production."
Sentiment: neutral
Topic: mp_economic_activity