Toyota chief makes less than Nissan, Honda CEOs

Toyota chief makes less than Nissan, Honda CEOs

Tokyo: Toyota Motor chief Akio Toyoda’s pay package was below ¥100 million ($1.1 million) last year, less than what his peers at Honda Motor and Nissan Motor made, securities filings showed.

Toyoda, grandson of company founder Kiichiro Toyoda, was not among the four Toyota executives whose total compensation in the year to March exceeded ¥100 million. Listed Japanese companies must reveal executive pay above ¥100 million starting this year.

Toyoda, whose pay was not disclosed, owns nearly 4.6 million Toyota shares, worth ¥14.6 billion at Thursday’s close.

Toyota’s best-paid executive was chairman Fujio Cho, with ¥132 million, followed by Toyota Motor North America president Yoshimi Inaba, in the limelight this year when he testified before US Congress over the company’s recall scandal.

Toyota co-vice chairmen Katsuaki Watanabe and Kazuo Okamoto made ¥114 million and ¥108 million, respectively. The other 34 board members, including Toyoda, made an average ¥27.9 million ($311,300).

Among other Japanese auto executives, Honda Motor Co CEO Takanobu Ito took home ¥115 million as the sole executive at Japan’s No.2 automaker making the required disclosure. About a third of that came from Honda’s R&D unit, which he also headed until the end of March.

Nissan Motor Co paid its CEO, Carlos Ghosn, ¥890 million, making him one of the best-paid executives in Japan as well as the global auto industry.