Daiwa Securities has boosted the bonus pool for its investment bankers and staff to the most in three years after posting its highest profit since 2006.
Chief Executive Officer Takashi Hibino, 57, is increasing the bonus pool even as he implements a program to eliminate $719.9m of expenses by March 2015.
Daiwa pays bonuses to employees twice a year in Japan (once a year in Europe, typically in May).
'We set aside an appropriate amount after talking with auditors', Daiwa Chief Financial Officer Mikita Komatsu said in a press briefing in Tokyo. The firm will decide on the final amount after talks with its employees’ labor union, he said.
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