By Makiko Yamazaki and Tom Bateman TOKYO (Reuters) -Japanese firms agreed to raise wages by more than 5% on average this year, on course for their most substantial pay hike in over three decades - a relief for many workers though it's unclear if the increases will lead to a meaningful jump in consumer spending.

Large companies including auto giant Toyota Motor concluded annual spring wage talks, with many saying they will fully meet unions’ salary demands.

Many of Japan's biggest companies from tech conglomerates to Toyota have met union demands for substantial wage hikes for a third consecutive year, seeking to help workers cope with inflation and retain staff amid labour shortages.