A Reuters survey found that one in three Japanese companies faced cyberattacks, including breaches of their own systems and those of external service providers, prompting many organizations to boost cybersecurity investment budgets.
A Reuters survey released on 12 Nov 2023 GMT+7 revealed that about one-third of Japanese companies experienced cyberattacks this year, either targeting their own systems directly or those of related external service providers. This has driven the business sector to accelerate cybersecurity investments to counter increasingly severe threats.
The survey followed several major customer data breaches in recent months, leading the Japanese government to implement emergency response measures last week.
Details show about 10% of companies reported cyberattacks on their own or external provider systems that impacted operations, while 22% experienced attacks without damage. More than half said they had never been targeted, and the remainder were unsure if they had been attacked.
Regarding cybersecurity budgets, 3% of companies expect a significant increase, 59% plan a moderate increase, and 22% anticipate maintaining roughly the same budget.
For countermeasures, 63% of surveyed companies have increased employee training and anti-phishing email protections, 32% have enhanced defenses against ransomware attacks including data backups, and 22% have tightened data management. Respondents could select multiple measures.
An executive from a textile company said that combating cyber threats is never-ending, but the company aims to invest as much as possible to strengthen defenses.
Meanwhile, a chemical company official noted that fully preventing AI-driven attacks is difficult, so the focus is on measures to minimize damage if an attack occurs.
Experts point out that AI now enables criminals to automate tasks such as scanning software vulnerabilities and crafting phishing campaigns, making cybercrime faster, cheaper, and harder to detect.
The survey was conducted by Nikkei Research on behalf of Reuters from 27 Oct to 6 Nov 2023 GMT+7, contacting 508 companies and receiving 214 anonymous responses.
More than 80% of Japanese companies plan to continue raising wages in 2027.
The survey also found that over 80% of Japanese companies expect to increase employee wages in 2027 at rates similar to those in 2026.
Earlier, Rengo, Japan's largest labor union federation with about 7 million members, announced in July that companies agreed to an average 5.01% wage increase this year, marking the third consecutive year of rises above 5% amid ongoing labor shortages.
An executive at a transportation equipment manufacturer said that if wage increases do not keep pace with rising prices, skilled employees may leave for other companies.
However, several companies expressed concern that sustained high wage increases may not be maintainable long-term. A retail company official said their firm has raised wages about 5% annually for several years but is now nearing its limit to maintain such rates.
When asked about expected wage increases next year, nearly half of companies anticipated 3-5%, about one-third forecasted 1-3%, and 12% expected 5-7% increases.
Source:channelnewsasia
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