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

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Kenichiro Yoshida, Sony's CEO, just got a pay raise.

'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 to $1.64 million , while his performance bonus rose from $2.20 million to $2.61 million , according to a regulatory filing made by Sony.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.

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CrossFit Owner Sells Company After Stepping Down As CEOI’m a San Francisco-based reporter covering breaking news at Forbes. I’ve previously reported for USA Today, Business Insider, The San Francisco Business Times and San Jose Inside. I studied journalism at Syracuse University’s S.I. Newhouse School of Public Communications and was an editor at The Daily Orange, the university’s independent student newspaper. Follow me on Twitter rachsandl or shoot me an email rsandlerforbes.com. rachsandl brookewellss katrintanja ltfisher12 richfroning Happy to see him completely disconnecting from the sport!
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