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273 execs made over ¥100 million in 2013

Kyodo, JIJI

At least 273 executives at listed Japanese companies earned more than ¥100 million in the business year ended March, according to a research agency.

As of Friday, the highest paid executive was Hiroshi Hashimoto, top adviser to print-circuit board maker Kyoden Co., who earned ¥1.29 billion, surpassing Nissan Motor Co. Chief Executive Officer Carlos Ghosn, who fell to fifth place with ¥995 million, Tokyo Shoko Research said Friday.

Casio Computer Co. President Kazuo Kashio ranked second with compensation of ¥1.23 billion, followed by Casio special adviser Yukio Kashio with ¥1.08 billion.

Sony Corp. President Kazuo Hirai meanwhile received ¥359.2 million for fiscal 2013 ended in March, the firm’s financial statements said Thursday. Of the total, basic pay came to ¥184 million, while the rest included remuneration in stock options. Sony offers basic executive pay in U.S. dollars.

Pundits say his sizable pay could draw fire from Sony shareholders after the electronics giant incurred yet another group net loss in fiscal 2013, this one amounting to ¥128.3 billion.

Sony’s remuneration committee decided that Hirai’s pay was appropriate, considering compensation levels at other global companies, a Sony spokesman said. Hirai’s basic pay has been cut 10 percent amid the business slump. Yet his basic pay for fiscal 2013 rose ¥31 million from the preceding year because the yen was weaker against the dollar.

Mitsubishi Electric Corp. had the most executives making ¥100 million or more at 18, the agency said. Trading house Mitsui & Co. was second with eight, while Nomura Holdings Inc. and Toyota Motor Corp. ranked third with seven each.