Bloomberg News reports that the seven executives, including CEO Koji Nagai, were awarded an average of $1.5m in base salary, bonuses and deferred remuneration for the year ended March, according to calculations based on a document disclosed for shareholders Tuesday. Local competitor Daiwa Securities increased executives’ pay by 9.2%, bringing it closer to Nomura’s.
The drop in compensation at Nomura came after net income fell 42% to a three-year low of $1.2bn as the firm failed to achieve a goal of returning overseas operations to profit. Nagai, 57, reshuffled his executive team earlier this year before unveiling cost-cutting measures including plans to pull back from European equities and reduce its U.S. stocks business.
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