ENECHANGE to increase salaries by approximately 9% in FY2024

ENECHANGE Ltd. (Head office: Chuo-ku, Tokyo; CEO: Yohei Kiguchi, PhD, hereinafter referred to as “ENECHANGE”) announces that, as a measure to further strengthen the employee commitment to create the future of energy, from the year 2024, employees will receive an annual wage increase of approximately 9%.

Background

The Ministry of Health, Labour and Welfare (MHLW) has announced that the actual rate of pay rises at major private-sector companies in Japan in FY2023 was 3.6%*1, while the Japanese Trade Union Confederation has disclosed a target of at least 5%*2 for pay rises in FY2024.

ENECHANGE raised employee salaries by an average of 7.1% in FY2023 as part of its investment in human capital, which is essential for business growth, and has decided to review its salary levels in FY2024 with the aim of strengthening the commitment of employees and securing talented people needed for further business growth in the future. The decision was taken to implement a pay increase.

*1. Adapted from Ministry of Health, Labour and Welfare, ‘Table 2: Spring wage increases in major private-sector companies’, FYR5
*2. Japanese Trade Union Confederation, ‘2024 Spring Struggle Policy’

2024 Salary revision details

Target group: permanent and contract employees
Implementation period: January and July 2024
Description of implementation: 2024 wage increase
-Approximately 9%*4 per year (assuming two annual pay rises of about 4.6%).

*3. Including trust stock option remuneration

Performance trends

Since the company’s establishment, ENECHANGE has been experiencing steady growth, and in the fiscal year ending December 2023, we have begun to fully expand our installation of EV charging ports as part of our EV Charging business. In the fiscal year ending December 2024, we aim to achieve further growth by positioning our EV Charging business at the core and leveraging synergies from the strengths of our three main businesses.

Attracting and retaining people to fuel growth

ENECHANGE’s position is that investing in human capital is an effective way to sustain strong business growth. As our employees have a high degree of empathy with the mission we have set out, we have established HR policies with a view to further strengthen the commitment of our employees by continuously improving the compensation they receive in return, which will lead to business and company growth.

Future perspectives

ENECHANGE are still looking for colleagues from home and abroad who share our mission of Changing Energy For a Better World. In order to be an organization that embraces innovation, we will continue to encourage working styles that suit individual lifestyles.

ENECHANGE Ltd.

ENECHANGE is an energy technology company that promotes a net zero society through digital technology with the mission of Changing Energy For A Better World. We offer services based on data utilisation in the field of the 4Ds of Energy: Deregulation, Digitalization, Decarbonization, and Decentralization. Our company’s roots come from an energy data lab at the University of Cambridge, UK, a country where liberalisation is mature. ENECHANGE has a UK subsidiary, ENECHANGE Innovation Limited, as well as a global network and analytical technology for energy data.

URL: https://enechange.co.jp/en/

■For inquiries
ENECHANGE Ltd.
pr@enechange.co.jp