The year 2025 is poised to bring significant changes and challenges to the Japanese economy, as outlined during the recent New Year celebration of three major economic organizations held on January 7, 2025, in Tokyo. Key figures from the business community, including 新浪剛史, representative director of the Economic Club of Japan and president of Suntory Holdings, gathered to discuss the pressing issues surrounding wage increases and economic growth.
During the festivities, which brought together influential corporate leaders, fervent calls for wage hikes were issued as inflation continues to loom large over the economy. 新浪剛史, addressing the attendees, emphasized the need for businesses to raise wages to combat rising prices, stating, “物価上昇に対応するためベースアップ（ベア）を念頭に賃上げしてほしい,” translating to “I hope to see wage increases with consideration for base raises to respond to inflation.” His remarks highlight the drive to stimulate consumer spending and improve living standards, which have been adversely impacted by inflation.
With nominal wage increases reported in the past two years, the actual real wages of workers have seen little to no improvement due to the inflation effect. This discrepancy has made the push for wage hikes even more urgent. At the same gathering, 小林健, head of the Japan Chamber of Commerce and Industry, echoed this sentiment, emphasizing the importance of supporting small and medium enterprises (SMEs) to help them manage costs and commit to fair wages.
During the event, 新浪剛史 also shared his projection for Japan's Gross Domestic Product (GDP) growth, forecasting recovery to approximately 1% for 2025. He pointed out the underlying factors driving this potential growth, primarily digital investments propelled by advancements such as artificial intelligence. “日本だけでなく海外の企業も意欲的だ,” or “Not only Japan but also overseas companies are showing willingness,” he said, underscoring the eager mindset surrounding investment opportunities in technological advancements.
Despite this optimism, the avenue to sustainable growth isn't devoid of hurdles. Concerns over potential trade barriers arising from U.S. economic policies and inflation resurgence could slump corporate performances if not navigated carefully. 新浪剛史 observed the global economic climate's impact on Japan, noting, “政治の不確実性や孤立主義的な考え方が世界経済の成長を抑制する可能性もある,” which translates to “Political uncertainty and isolationist thinking could suppress global economic growth.”
He urged for Japan to take leadership within the framework of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), fostering free trade and collaboration, especially with neighboring countries such as South Korea. This collaboration is deemed necessary to improve trade environments, which is expected to play a pivotal role as Japan aims to recover its economic standing amid competitive pressures.
To conclude the event, the discussions revealed how fundamental the actions taken now will be for Japan's economic growth. With commitments from business leaders to focus on wage improvements and investments in technology, there remains cautious optimism for the years to come as the country braces itself for economic recovery. The continuous dialogue among corporate leaders and the government's adaptive policies aimed at stimulating employment and growth will carve out the path for the workforce and future economic health of Japan.