Japan’s RENGO union seeks 6% wage hike in 2027 negotiations

RENGO's 6% target is a signal about the durability of Japan's wage-growth cycle rather than a near-term policy event, given the demand precedes actual negotiations and any settlement. For the BOJ, the relevance is whether such demands translate into sustained pay gains that feed inflation, which is why the union's stance carries weight beyond labor circles. The open question is whether this figure holds as a floor in bargaining or gets watered down, and how closely the BOJ treats it as evidence for its policy path.