Sony Corp. CEO Kazuo Hirai's Annual Pay Up 20 Percent Despite Losses

Gavin J. Blair

TOKYO -- Sony Corp. CEO Kaz Hirai's pay for the last fiscal year was up to $1.8 million (¥184 million), and head of U.S. based entertainment Nicole Seligman hit $1.53 million (¥156 million), representing 20 percent increases for both executives despite continuing losses at the conglomerate. However, the weaker yen will have meant that Seligman's raise was less than 20 percent in dollar terms. 

Hirai also received options on 200,000 Sony shares, and Seligman for 30,000, the same levels as last year, according to a regulatory filing with authorities in Tokyo.

Hirai and other senior executives at Sony's Tokyo headquarters also returned around $10 million in bonuses to take responsibility for continuing losses at the conglomerate's struggling electronics division. 

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Sony announced at the end of May that it had appointed Seligman to the newly-created role of president of its U.S.-based entertainment business, having previously been president of Sony Corp. of America and general counsel. 

Sony posted a full-year loss of $1.25 billion (¥128.4 billion) in the fiscal year to March, and is forecasting another $490 million (¥50 billion) of red ink for the current fiscal year to March 2015.

 

Twitter: @GavinJBlair