Ex-Sony Pres. Hirai Receives 2.7-B.-Yen Pay for FY 2017

June 20, 2018

Tokyo- Sony Corp. Chairman Kazuo Hirai, who stepped down as president and chief executive officer in April, received executive pay worth 2.7 billion yen for fiscal 2017, the company's annual securities report showed Tuesday.

This is the largest pay for a Sony executive since fiscal 2009, when listed companies in Japan became obliged to disclose the names of executives earning 100 million yen or more.

Hirai's compensation, which included retirement pay he received in the form of equities, tripled from some 900 million yen in the previous year thanks to earnings recovery.

Of the total, basic pay accounted for 244 million yen. Performance-based pay doubled to 647 million yen as Sony posted a record operating profit for the first time in 20 years in fiscal 2017, which closed in March this year.

In addition to the retirement pay worth 1,182 million yen, he received stock options. Jiji Press