Nomura Holdings Inc., the nation's largest brokerage, raised pay for top executives by 79 percent last fiscal year, even as its earnings and share price plunged.
Chief Executive Officer Kenichi Watanabe and his team received average compensation of ¥160.8 million for the year that ended on March 31, up from ¥89.9 million a year earlier, according to a report to shareholders posted on the company's website.
Watanabe and Chief Operating Officer Takumi Shibata oversaw a 60 percent decline in net income to ¥11.6 billion for the year. The shares touched their cheapest price in at least 37 years in November and Moody's Investors Service cut the firm's credit rating to the lowest investment grade during the period.