Sony CEO Hirai’s Pay Doubles After First Profit in Three Yearsby and
Kazuo Hirai received $4.9 million in compensation last year
Sony reported its highest annual profit in eight years
Sony Corp.’s Chief Executive Kazuo Hirai received a hefty pay raise as the company saw its first profit in three years.
Hirai was paid 513 million yen ($4.9 million) in the year ended March 31, compared with 202 million yen the previous period, according to Sony’s filing on Friday. The pay includes performance-based compensation and excludes stock options.
Hirai has led the company through a painful shift away from consumer electronics, cutting thousands of jobs and selling the company’s iconic Vaio personal computer brand. The focus on image sensor chips, video games and movies has helped Sony report its highest profit in eight years. The stock is up 70 percent since Hirai took over in April 2012.
Sony reported net income of 147.8 billion in the year ended March, after net losses of more than 900 billion yen over the preceding five fiscal years. The company held a general shareholders meeting in Tokyo on Friday.