annual leave; annual paid vacation
Often used as an abbreviation of 年次有給休暇 (annual paid leave). In practice, it refers to the paid vacation days an employee is entitled to each year.
See also: 年次有給休暇
I took annual leave and went on a trip with my family.
この会社では、年次休暇は入社半年後に付与されます。
At this company, annual leave is granted after six months of employment.
The full, formal term for annual paid leave. 年次休暇 is a common abbreviation used in everyday business contexts.
Paid leave in general, not necessarily annual. 年次休暇 specifically refers to the yearly entitlement.
Compound of 年次 (annual) and 休暇 (leave, vacation). The term is a modern business expression, likely a shortening of 年次有給休暇.