Nomura Holdings Inc. cut pay for its top executives by 18 percent to the lowest level in three years after profit at Japan's biggest brokerage slumped and losses abroad swelled.
The seven executives, including Chief Executive Officer Koji Nagai, were awarded an average of ¥166.4 million in base salary, bonuses and deferred remuneration for the year ended March, according to calculations based on a document disclosed for shareholders Tuesday.
Local competitor Daiwa Securities Group Inc. increased executives' pay by 9.2 percent, bringing it closer to Nomura's.