Carlos Ghosn, the president of Nissan Motor Co., is likely to be the highest paid executive in Japan in fiscal 2012 with 988 million yen ($10 million) in salary and bonuses, up 1 million yen from the previous year.
Ghosn revealed his compensation at the company's shareholders' meeting in Yokohama on June 25. In Japan, listed companies are required by law to disclose executive pay for the year if their total compensation exceeds 100 million yen.
The previous highest-compensated Japanese executive was Toshio Kashio, the founder and honorary chairman of Casio Computer Co., whose package exceeded 1.3 billion yen in fiscal 2011.
Ghosn is likely to win the honor of highest paid executive in Japan in fiscal 2012. At the shareholders' meeting, he justified large pay packets for executives, saying the company would face difficulty maintaining its competitive edge without being able to attract talent.
Ghosn's rival at Toyota Motor Corp., Akio Toyoda, earned 184 million yen in salary and bonuses during the same period, up 48 million yen from the previous year, according to financial statements released by the automaker on June 24.
The Toyota president’s pay package surpassed the 159 million yen earned by former chairman Fujio Cho, who assumed the post of honorary chairman after the company’s June 14 shareholders’ meeting.
Cho received a 15-million-yen increase from the preceding year. His compensation during that period exceeded Toyoda’s by 8 million yen.
Meanwhile, newly appointed chairman Takeshi Uchiyamada’s compensation exceeded 100 million yen for the first time. His salary and bonuses earned while serving as vice chairman totaled 111 million yen for the year ending in March.
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