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Toyota chief earned $2.84 million last year after bonus doubles

Published 24/06/2015, 09:18
© Reuters. Toyota Motor Corp President Toyoda attends a news conference on the arrest of the company's Managing Officer and Chief Communications Officer Hamp in Tokyo
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TOKYO (Reuters) - Toyota Motor Corp (T:7203) President Akio Toyoda earned 352 million yen ($2.84 million/£1.8 million) in total compensation last year after his bonus doubled to about $2 million, the Japanese company said in a regulatory filing on Wednesday.

Toyoda, head of the world's best-selling automaker, received a bonus of 249 million yen in the year ended March, up from 127 million yen in the previous year. His base salary was unchanged.

Toyoda's compensation is roughly a third of what Nissan Motor Co (T:7201) paid Chief Executive Carlos Ghosn in the same period. Ghosn told shareholders on Tuesday he splits his time equally between Nissan and French alliance partner Renault SA (PA:RENA), which he also heads.

Fiat Chrysler Automobiles NV (MI:FCHA) CEO Sergio Marchionne was the top-paid automotive executive in 2014, making about 31.3 million euros ($35 million).

Toyota in May reported a 19 percent rise in net profit to 2.17 trillion yen for the business year through March, and forecast a third consecutive year of record profit.

© Reuters. Toyota Motor Corp President Toyoda attends a news conference on the arrest of the company's Managing Officer and Chief Communications Officer Hamp in Tokyo

Nissan's net profit grew 18 percent to 457.6 billion yen.

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