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Business

Son's heir apparent got $135m

TOKYO -- SoftBank, one of Japan's leading telecommunications providers, awarded its new president about 16.5 billion yen ($135 million) in executive compensation for the year ended in March, the company's consolidated financial statements show.

     The statements were issued Friday.

Nikesh Arora

     The package indicates that Masayoshi Son, chairman and CEO of SoftBank, has put the company's money where Son's mouth is. Son has called Nikesh Arora "the most important candidate" to succeed him.

     According to the statements, SoftBank, an increasingly aggressive player in the global information technology sector, paid a total of 16.556 billion yen to Arora, who was named SoftBank president on Friday. The amount includes 1.995 billion yen in share-based compensation as well as a signing bonus.

     Son himself received 131 million yen in executive compensation for fiscal 2014. Separately, he also received 10 billion yen in SoftBank dividends.

     In 2013, former Oracle CEO Larry Ellison was the highest paid U.S. executive, at $78.4 million, according to U.S. financial magazine Forbes. In Japan, Carlos Ghosn, president and chairman of Nissan Motor, received 995 million yen in compensation for the year ended March 2014.

     The Indian-born Arora served as chief marketing officer of T-Mobile Europe, a mobile phone subsidiary of Deutsche Telekom, before moving to Google in 2004. He met Son while he was an executive at Google.

     Since Arora joined SoftBank in September, he has worked closely with Son in stepping up investments in Internet companies in Asia. Arora took the lead in investing $1 billion in Forward Ventures LLC, which launched Coupang, a leading South Korean e-commerce player. SoftBank made the announcement on June 3.

     SoftBank paid out a total of 47.5 billion yen in dividends for fiscal 2014. Arora's package is worth about one-third of that.

(Nikkei)

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