The CEOs of Japan’s deal-hungry mega-banks are earning a fraction of the pay received by their global peers, showing how the nation still frowns upon outsized pay packages even with profits forecast near a record.
Mitsubishi UFJ Financial Group CEO Hironori Kamezawa’s total compensation was ¥257 million ($1.8 million) for the year ended in March, including stock awards, according to a filing by Japan’s largest bank. Sumitomo Mitsui Financial Group CEO Jun Ohta received a total of ¥186 million, while Mizuho Financial Group’s chief Masahiro Kihara was paid ¥146 million.
The size of their paychecks is dwarfed by compensation in the United States and other major markets. JPMorgan Chase & Co. CEO Jamie Dimon was paid $34.5 million last year, while HSBC Holdings CEO Noel Quinn took home $7.1 million. In Singapore, DBS Group Holdings’ Piyush Gupta was awarded about $11 million.