SoftBank Corp’s push into global markets is bringing record-setting executive pay to Japan, breaking with the country’s tradition of low compensation relative to the US and Europe.
Nikesh Arora, billionaire Chairman Masayoshi Son’s pick to lead the mobile carrier’s expansion abroad, earned about JPY16.6 billion (USD134.9 million) between joining the company in September and the end of March. SoftBank Director Ronald Fisher earned JPY1.79 billion last fiscal year, the highest on record for a Japanese company board member, according to Tokyo Shoko Research Ltd.
The record-setting pay comes as Son invests in expanding outside Japan and integrating Sprint Corp, the US wireless carrier SoftBank acquired in 2013. Mr Son promoted Mr Arora, 47, to president in May, saying the former Google Inc. chief business officer would lead the company’s global expansion. Mr Son also said Mr Arora was a top candidate to succeed him as chairman.
(Source: The Japan Times Online)