• Kyodo News


Sony Corp. said Friday its chief executive officer, Howard Stringer, received about ¥816.5 million, including stock options, for his compensation package in the financial year that ended in March.

Sony said Stringer’s basic compensation is about ¥310 million, while about ¥100 million was earmarked for bonuses.

He also has options for 500,000 shares, which would be worth about another ¥400 million if calculated on a theoretical value of ¥813 per share.

The compensation package for Stringer is the highest among executive compensation so far revealed by Japanese companies.

The electronics giant also said at its shareholders’ meeting that the total compensation package for Ryoji Chubachi, vice chairman, came to ¥215 million, and for Nobuyuki Oneda, vice president, to ¥164 million.

Under new government regulations on corporate disclosure, publicly traded companies must provide in a financial statement the names of executives who earn at least ¥100 million and a breakdown of their compensation packages, which would include retirement payouts and stock options.

Sony decided to unveil the details of executive compensation at the shareholders’ meeting ahead of the filing of its financial statement to the government June 28, to give shareholders a better idea of the company’s performance in relation to pay.

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