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Sony CEO Kazuo Hirai’s Annual Pay More Than Doubled to $4.9 Million

Kazuo Hirai Sony
Masatoshi Okauchi/REX/Shutterstock

TOKYO — Sony CEO Kazuo Hirai received a big raise to $4.9 million for the fiscal year ending on March 31, 2016, according to a securities filing to Japanese authorities. Minus stock options but including performance-based pay, this amount is 2.5 times his previous year’s compensation and beats the previous company record of $4.6 million set by former Sony CEO Howard Stringer in March of 2010 — the first time Sony was compelled to disclose top executive pay.

The raise was prompted by Sony’s return to profit for the first time in three years following a long, painful period of restructuring that resulted in thousands of job losses and Sony’s exit from the PC and other money-losing businesses.

Also receiving more than JPY1 billion ($960,000) in compensation were Sony CFO Kenichiro Yoshida, who is widely credited as a key player in the company’s turnaround, and Executive Deputy President Tomoyuki Suzuki, who is in charge of Sony’s key devices and semiconductor businesses.