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Sony CEO’s Annual Pay Rises as Company Sets Name Change

Sony CEO Kenichiro Yoshida’s annual pay rose 14 percent in yen terms.

The Japanese entertainment and consumer electronics giant in a Friday regulatory filing disclosed that his pay for the latest fiscal year increased from ¥397 million to ¥454 million. In dollar terms, he earned $4.25 million using current exchange rates, up 16 percent compared with the previous year’s $3.67 million when applying the exchange rate at the time.

Yoshida’s base salary rose from $1.47 million (¥160 million) to $1.64 million (¥175 million), while his performance bonus rose from $2.20 million (¥237 million) to $2.61 million (¥279 million), according to a regulatory filing made by Sony.

Compensation for Sony Pictures Entertainment chairman and CEO Tony Vinciquerra was not detailed in the filing. The executive pay filings typically list pay for five top corporate executives.

Sony’s Friday filing focused on its fiscal year ended March 31. The conglomerate also held its annual shareholder meeting in Tokyo on Friday, which ran shorter and attracted fewer investors than usual due to the novel coronavirus pandemic. Shareholders in attendance reportedly had their temperature taken before they entered the venue.

Shareholders at the meeting voted to confirm a name change for the conglomerate from Sony Corp. to Sony Group Corp. as of next April. Yoshida has in the past said that the addition of the word “group” would signal that Sony was active in more areas than its core electronics business.

This article was originally published by The Hollywood Reporter.

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