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Major Japanese trading companies are lifting initial monthly salaries for new hires by double-digit margins this spring, matching the pay set by Mitsubishi Corp. a year earlier, amid an intensifying scramble for talent.
Mitsui & Co., Itochu, Sumitomo Corp. and Marubeni are boosting starting pay for the first time in eight years, and Kanematsu for the first time in seven. Newly minted college graduates in career-track positions at all five companies will initially receive 240,000 yen ($2,150) later in the month, up 35,000 yen from last year. Holders of graduate degrees will get 275,000 yen, up from 244,000 yen.
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