SoftBank more than doubles executive pay

TOKYO — Executive compensation at SoftBank Group grew roughly 150% on the year in fiscal 2018, reflecting strong earnings at the Japanese …

TOKYO — Officers’ compensation at SoftBank Group grew roughly 150% on the year for fiscal 2018, reflecting strong earnings at the Japanese technology conglomerate.

Total remuneration, including bonuses and stock-based payments, neared 1.63 billion yen ($14.9 million) for the year ended March 31, a shareholders meeting notice out Wednesday shows. The figure covers board directors as well as members of the audit and supervisory board.

Companies must report the pay of each officer whose consolidated remuneration totals 100 million yen or more. Seven made SoftBank’s fiscal 2018 list, with Executive Vice President Katsunori Sago a new addition.

The unit that runs the $100 billion SoftBank Vision Fund nearly doubled its workforce to 297. Loans from financial institutions and other sources have decreased by 1.04 trillion yen, according to the notice.

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