TOKYO, June 27 Daiwa Securities CEO Takashi Hibino saw his compensation shoot up to $2.2 million in the past fiscal year as the brokerage's profits jumped with the Japanese stock market, almost a third more than what his counterpart at Nomura Holdings got.
Hibino received 215 million yen in total compensation in the year ended in March, comprised of 114 million yen in base pay, 14 million in stock options and 86 million yen in performance-based pay, Daiwa's regulatory filing on Thursday shows.
Nomura CEO Koji Nagai, who took the helm of Japan's largest brokerage last year in the wake of an insider trading scandal, was paid 166 million yen, the company's filing shows.
Nagai was among five executives to top 100 million yen, up from two executives in 2012, as Japanese brokerages enjoyed bumper profits on the back of a surge in the Nikkei stock average and significantly higher trading volumes.
But executive pay in Japan still pales in comparison to Western investment banks.
The total pay of 20 Nomura directors and executive officers came to 1.13 billion yen ($11.60 million), roughly equal to what JPMorgan Chase & Co CEO Jamie Dimon took home as an individual last year.