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Japan financial institution CEOs are paid a fraction of what world rivals make

The chief govt officers of Japan’s deal-hungry megabanks are incomes a fraction of their world friends, displaying how the nation nonetheless frowns upon outsized pay packages even with earnings forecast close to a report.

Mitsubishi UFJ Financial Group Inc. CEO Hironori Kamezawa’s complete compensation was 257 million yen ($1.8 million) for the 12 months led to March, together with stock awards, in accordance with a submitting by Japan’s largest financial institution. Sumitomo Mitsui Financial Group Inc. CEO Jun Ohta obtained a complete of 186 million yen, whereas Mizuho Financial Group Inc.’s chief Masahiro Kihara was paid 146 million yen.

The dimension of their paychecks is dwarfed by compensation within the US and different main markets. JPMorgan Chase & Co. CEO Jamie Dimon was paid $34.5 million final 12 months, whereas HSBC Holdings Plc CEO Noel Quinn took residence $7.1 million. In Singapore, DBS Group Holdings Ltd.’s Piyush Gupta was awarded about $11 million.

The Japanese banks’ comparatively meager pay got here after they posted among the highest earnings in recent times and launched into a string of offers to beef up their presence throughout Wall Street. Culture performs a task in Japan, as lenders are usually considered as semi-public entities, whereas the infusion of presidency funds in the course of the nation’s monetary disaster within the late Nineties has left its mark.
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