Honda Says Profit Determines Whether to Heed Abe Request

http://www.bloomberg.com/news/2013-12-13/honda-says-profit-determines-whether-to-heed-abe-request.html

Honda Motor Co. (7267) Executive Vice President Tetsuo Iwamura said the Japanese automaker will set pay based on reaching profitability targets, rather than government directives on how fast to increase compensation.

Prime Minister Shinzo Abe has called four meetings since September with union and business leaders to persuade them to build a consensus on the need for higher wages to end 15 years of deflation in Japan. Toyota Motor Corp. (7203) and Hitachi Ltd. are among the manufacturers that have said they’ll comply with that request.