However, realizing an economy where wages and prices rise moderately is beneficial from the viewpoint of corporate management as well. Let me raise two points.
First, given that it is difficult in general to lower the level of nominal wages, if there is some room to reduce the wage growth rate, it will be easier for firms to adjust labor costs in the event of an economic downturn. I mentioned earlier that, in Japan, the stability of employment was prioritized over wage increases under prolonged deflation.