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Business

Japan execs earning 100m yen reaches new high

Strong profits helped lift pay in fiscal 2016

Nikesh Arora

TOKYO -- A record number of executives at Japan's listed companies received at least 100 million yen ($890,000) in compensation last fiscal year amid solid bottom lines.

Though the companies' aggregate revenue slipped in the year ended March 2017, total net profit hit a record high, which translated into higher compensation for executives. There were 457 such executives last fiscal year, up 43 from the year before, according to Tokyo Shoko Research data culled from securities filings submitted through Friday.

Further, the number of businesses with executives earning 100 million yen or more also reached a record, climbing to 221. Mitsubishi Electric had the largest number of such executives, at 22, followed by trading house Itochu with 11. Fanuc, a leader in robotics, and Panasonic had 10 each.

Technology company SoftBank Group, whose net profit exceeded 1 trillion yen for the first time last fiscal year, paid more than 10 billion yen to Nikesh Arora, who stepped down as president last June. Arora was the most highly compensated executive in Japan, followed by SoftBank Vice Chairman Ronald Fisher, who received 2.42 billion yen.

(Nikkei)

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