Photo/Illutration Yoshihisa Aono, president of Cybozu Inc. (Provided by Cybozu Inc.)

Major Japanese IT firm Cybozu Inc. wants its employees across the world to focus more on work rather than worrying about the impact of soaring consumer prices on their budgets. 

So, the company announced on July 13 that it will provide up to 150,000 yen ($1,083) to its workforce as a one-time allowance to cushion the blow. 

Cybozu will pay its first “special inflation allowance” between July and August to nearly 1,000 staff members working in Japan, the United States, Australia, China, Taiwan, Thailand and Malaysia.

The firm said it needed to quickly ease employees’ concerns for higher living expenses as utility costs as well as the prices of many food items and daily necessities began climbing early this year.

The amount of the allowance will vary according to the number of monthly working hours.

Employees working in Japan can receive 150,000 yen if they work more than 128 hours per month, while the amount will be 120,000 yen for those who work fewer but more than 96 hours.

The firm will offer 90,000 yen to those who commit to working more than 64 hours but no more than 96 hours and 60,000 yen to those who work 64 hours or fewer.

The company will provide the allowance to workers in Japan by the end of July.

When deciding on the amount, Cybozu referred to various data, including an estimate that shows inflation will cost a single household in Japan an extra 60,000 to 90,000 yen annually.

The allowance will target those hired directly by the company regardless of whether they are permanent employees or not.

As for eligible workers overseas, the firm said it will set different allowance amounts for each office.

The company added that it decided to pay the allowance only once as a short-term measure, given that salaries will likely rise in the long run after taking the price hikes into consideration.