Nissan Motor Co may be the second-largest automaker in Japan, but it hands out the paychecks at the number one spot, paying over double what Honda Motor Corp and Toyota Motor Corp. shared with employees.
The 14 Nissan executives received a pay raise, 9 of which saw a 32% increase, all receiving an average of 126 million yen, which equates to 1.6 million USD. Nissan reported a 16 percent global sales increase from January to March, bringing in a net income of 31 billion yen. Seven of these executives will also receive a total of 194 million yen in share appreciation rights.
TIW, Inc. analyst Satoru Takada comments “Nissan’s compensation seems to be based on a short-term basis and reflects how Nissan’s earnings are doing in recent periods,”. Nissan reports that they have performance evaluations and standards, as per Mitsuru Yonekawa, a Nissan spokesman, who gave no additional details.
To compare, Japan’s number one automaker, Toyota, paid its top executives an average of 44 million, including bonus. Honda gave out checks averaging 45 million yen for its top 25 executives.
– By: Alexandra Koken