Working less, dying more may be the latest trend in Japanese labor.
The ranks of weary Japanese businessmen, red-eyed shop owners and worn out professionals being worked to death shot to a record high last year, according to government figures released this week.
But in a land where hard work is a virtue and dedication to the company often means midnight overtime, people are actually working less than ever because of Japan's sagging economy, which is quagmired in its third recession in a decade.
Companies are cutting back on shifts to trim labor costs and streamlining their assembly lines to churn out more work in less time. Yet rising unemployment has only increased the onus of making ends meet -- and more people are becoming aware of cases of overwork and reporting incidents.
"It's a vicious circle," said Masahiko Okudaira, a doctor who advises victims of overwork. "It's not only a medical problem, but a social problem partly related to the economy."
Since first being recognized by the Health Ministry in 1987, death from overwork, known here as "karoshi," has steadily increased from 21 cases then to 143 last year.
From brain aneurisms to strokes and heart attacks, karoshi strikes a wide range of people, but factory workers, doctors and taxi drivers are hit the hardest. It is sometimes triggered by logging as many as 50 overtime hours in one week.
Last year saw a 68 percent increase in deaths over the 85 logged in 2000, but Health Ministry officials say that's not all bad news.
The jump was due largely to a redefinition of karoshi to encompass up to six months of accumulated work-related stress and fatigue instead of the previous standard of just one week.
"We thought more victims needed to be helped, that's why we relaxed the standards," said Health Ministry official Kazuyuki Matsumoto, adding that it would be easier to spot victims before their conditions turned fatal.
Even by the old standard, however, last year would have been a record with 96 deaths.
INVESTOR RESILIENCE? An analyst said that despite near-term pressures, foreign investors tend to view NT dollar strength as a positive signal for valuation multiples Morgan Stanley has flagged a potential 10 percent revenue decline for Taiwan’s tech hardware sector this year, as a sharp appreciation of the New Taiwan dollar begins to dent the earnings power of major exporters. In what appears to be the first such warning from a major foreign brokerage, the US investment bank said the currency’s strength — fueled by foreign capital inflows and expectations of US interest rate cuts — is compressing profit margins for manufacturers with heavy exposure to US dollar-denominated revenues. The local currency has surged about 10 percent against the greenback over the past quarter and yesterday breached
MARKET FACTORS: Navitas Semiconductor Inc said that Powerchip is to take over from TSMC as its supplier of high-voltage gallium nitride chips Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) yesterday in a statement said that it would phase out its compound semiconductor gallium nitride (GaN) business over the next two years, citing market dynamics. The decision would not affect its financial targets announced previously, the world’s biggest contract chipmaker said. “We are working closely with our customers to ensure a smooth transition and remain committed to meeting their needs during this period,” it said. “Our focus continues to be on delivering sustained value to our partners and the market.” TSMC’s latest move came unexpectedly, as the chipmaker had said in its annual report that it has
Gudeng Precision Industrial Co (家登精密), the sole extreme ultraviolet pod supplier to Taiwan Semiconductor Manufacturing Co (台積電), yesterday said it has trimmed its revenue growth target for this year as US tariffs are likely to depress customer demand and weigh on the whole supply chain. Gudeng’s remarks came after the US on Monday notified 14 countries, including Japan and South Korea, of new tariff rates that are set to take effect on Aug. 1. Taiwan is still negotiating for a rate lower than the 32 percent “reciprocal” tariffs announced by the US in April, which it later postponed to today. The
SECURITY WARNING: The company possesses key 3-nanometer technology, and Taiwan should prevent it from being transferred to China, a lawmaker said The Ministry of Economic Affairs yesterday said it would conduct a “strict review” of any proposed acquisition of Taiwanese tech company Source Photonics Co (索爾思光電), following media reports that a Chinese firm was planning to buy the company in the Hsinchu Science Park (新竹科學園區). Local media reported that Suzhou Dongshan Precision Manufacturing Co (東山精密), China’s largest printed circuit board manufacturer, had announced plans to acquire Source Photonics for 5.9 billion yuan (US$823.1 million). The ministry said it has not received an application from Source Photonics and has formally notified the company that any buyout would constitute a change in its ownership structure. The