Japanese salarymen are struggling to get by on the monthly allowance they receive from their wives, which has fallen to its lowest level in decades, a survey showed.
Despite frequently being the sole breadwinner, many Japanese husbands hand over their entire wage to the woman of the house, who often manages the family’s bills and balances the books.
The nation’s army of male office workers have just ￥37,873 (US$370) to play with per month, according to a survey by Tokyo-based Shinsei Bank Ltd. That is the third-lowest in the lender’s annual survey.
It is also way down from the heady days of the late 1980s and the early 1990s when the economy was booming and husbands enjoyed the high life with ￥77,725 per month, said the bank, which has surveyed men’s allowances since 1979.
A weak economy and tepid pay rises are forcing many households to target discretionary spending, including husbands’ pocket money.
To keep a lid on expenses, the average man budgets ￥587 for lunch every day, data from about 1,000 men aged between their 20s and their 50s showed.
Monthly costs for after-work drinks — often almost compulsory bonding sessions with their colleagues — come in about ￥11,765, up ￥50 from last year.
Japan has suffered years of deflation that have seen prices stagnate or fall. This means that the same amount of money buys more today than it did in the early 1990s.
Falling prices might sound good for shoppers, but it tends to hurt the economy as consumers put off spending to get goods cheaper down the road.
Japanese Prime Minister Shinzo Abe swept to power in late 2012 on a pledge to beat the deflationary spiral, but the plan, dubbed Abenomics, has faltered.
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) has approved a capital budget of US$31.28 billion for production expansion to meet long-term development needs during the artificial intelligence (AI) boom. The company’s board meeting yesterday approved the capital appropriation plan for purposes such as the installation of advanced technology capacity and fab construction, the world’s largest contract chipmaker said in a statement. At an earnings conference last month, TSMC forecast that its capital expenditure for this year would be at the higher end of the US$52 billion to US$56 billion range it forecast in January in response to robust demand for 5G, AI and
PORTFOLIO REBALANCING: The adjustments in three global equity indices reflect rising investor appetite for semiconductor and artificial intelligence-related stocks Taiwan’s weighting in major global equity indices compiled by MSCI Inc is to rise modestly following the latest quarterly review, underscoring the market’s expanding role in emerging-market portfolios, as global investors continue to favor the nation’s technology sector. Taiwan’s weighting in the MSCI Emerging Markets Index is to increase by 0.30 percentage points to 23.76 percent, after the changes take effect at the close of the May 29 session. Its weighting in the MSCI All-Country Asia ex-Japan Index is to rise 0.37 percentage points to 27.16 percent, while that in the MSCI All Country World Index is to edge up slightly to
NEW MARKET: The partnership opens up India to the Dutch company, which already has a strong hold in the semiconductor market of South Korea, Taiwan and China ASML Holding NV entered into a partnership agreement with Tata Electronics Pvt Ltd aimed at ramping up India’s goal to develop domestic chip-manufacturing capabilities. The Dutch company’s technology would help power Tata Electronics’ planned 300 millimeter (mm) semiconductor foundry in Gujarat, according to a joint statement from the two companies on Saturday. The signing of a memorandum of understanding coincides with a visit by Indian Prime Minister Narendra Modi to the Netherlands, which is looking to deepen bilateral relations with New Delhi. ASML, whose top customers include Taiwan Semiconductor Manufacturing Co (台積電) and Samsung Electronics Co, makes lithography machines that can print
The Hsinchu County Government’s Labor Affairs Department yesterday said that it has received a plan from cosmetics brand Taiwan Shiseido Co (台灣資生堂) detailing mass layoffs at its plant in Hukou Township (湖口). While the labor authorities did not disclose the number of employees to be laid off, Japanese news media earlier in the day reported that the closure of the company’s factory in Hukou would result in 170 employees losing their jobs. Shiseido followed the law by reporting its layoff plan, the department said, adding that authorities would closely monitor negotiations between the management and affected employees and step in if any
RSS