The hardest task will be to raise Japan's productivity to offset the looming manpower shortage.
The company said the results were driven by strong top-line growth and improved productivity, partially offset by a higher tax rate.
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Adjusted operating margin improved 110 basis points to 6.6%, attributed to higher volume and productivity initiatives which helped offset higher employee-related expenses, the impact of changes in product mix, and restructuring costs.
Similarly, the drop in land used to grow coca has been offset by better productivity.
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Some of that cost differential could be offset by higher productivity and greater labour flexibility in western countries.
Part of this rise in pay has been offset by strong productivity growth, but even unit wage costs are rising more rapidly.
Productivity gains and new technology help offset some of the disadvantages of the strong dollar.
Unless this is offset by more rapid productivity growth, this could make it harder to maintain the same growth in output per person in future and so harder to pay pension bills.
Mr Greenspan is placing a lot of weight on the recent increase in America's productivity growth, which has helped offset faster wage growth, and may well have raised the economy's long-term growth rate.
Increases in compensation may be offset by higher labor productivity or absorbed at least for a time by a narrowing of firms' profit margins rather than passed on to consumers in the form of higher prices.
Not only is there dramatic evidence of damage to marine ecosystems, but this has not been offset by similar gains in productivity.
He liked to portray himself as a pro-business liberal reformer but under him Italy has utterly failed to abandon a model that used lira devaluations to offset inflation and stagnant or falling productivity.
Fixes may be expensive, but the United States has made the compelling case that the costs of enforcing clean air regulations are offset by gains in health and worker productivity.
However you measure it, this is still mute everywhere, and offset, in America at least, by productivity growth.
Last quarter, lower realized aluminum and alumina prices offset growth in downstream engineered products and gains from productivity improvements.
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The company highlighted productivity improvements and higher volumes in their downstream business, partially offset by higher pension and maintenance costs.
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