4,200 Japanese Companies Ordered to Review Labor Practices

The Ministry of Health, Labor and Welfare announced Tuesday that it has found 4,189 businesses in labor law violations such as forcing extended work hours on employees and failing to pay overtime wages and ordered them to redress the situations, following an audit conducted in September.

They represent 82 percent of a total of 5,111 companies selected for the oversight action, based on tips and employment data, against so-called black companies known for abusive employment practices especially against young workers, the ministry said.

“Even though it was not just targeting (businesses abusing) young people, many young employees are found toiling under duress,” a ministry official said of its investigation.

Failure to comply with the order to correct the conditions may result in the ministry sending information about those companies to prosecutors to charge them for Labor Standards Law violations, the ministry said, adding that their corporate names will also be published.

via Mainichi

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza