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Toyota Chief Stresses Profit Sharing Among Workers, Employer

Discussion in 'Auto News' started by AE102, Jul 28, 2005.

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    Toyota Chief Stresses Profit Sharing Among Workers, Employer

    Thursday July 28, 2005, 6:29 pm



    SEOGWIPO, South Korea, July 28 Asia Pulse - Hiroshi Okuta, chairman of Toyota Motor Corp., on Thursday stressed the importance of trust and fair distribution of profit between workers and employers.

    "The employer's trust toward its workers is important in sustaining good corporate harmony" Okuta told a forum on South Korea's southern island of Jeju hosted by the Korea Employer's Federation.

    "Japan traditionally experiences a rise in union action every spring, when workers and employers discuss the issue of wage increases," said Okuta, who also serves as chairman of Japan's Federation of Economic Organizations (Keidanren).

    Management and labor unions at Japanese companies usually engage in annual wage negotiations in spring, known as the "syunto" spring labor offensive.

    He added that since a couple of years back, workers have started proposing fixing government and corporate labor policies as well as demanding wage hikes.

    The businessman underlined the importance of fair distribution of profit among shareholders, workers and management.

    Okuta also noted the rising popularity of South Korean culture in Japan, adding that he is "considering creating an international tourism body, tieing South Korea, China and Japan together as a single zone to promote tourism."

    (Yonhap)

    http://au.biz.yahoo.com/050728/17/6bno.html

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