On the 21st, the Ministry of Economy, Trade and Industry released guidelines for companies regarding wage increases and growth investment. The ratio of growth investment to sales at Japanese companies stood at 17.7 percent in fiscal 2023, remaining low compared to Europe and the United States. The ministry's analysis indicates that companies are prioritizing dividend increases and share buybacks, and that the balance with growth investment is not functioning properly. The guidelines stress that intentionally increasing the amount of investment in areas where revenue expansion is expected will enhance growth potential, and call for a focus on capital expenditure and research and development investment.