Nissan Chairman Ghosn earned record ¥1.1 billion in fiscal 2016

Nissan Motor Co. Chairman Carlos Ghosn earned ¥1.1 billion in executive compensation in the fiscal year that ended in March.

The amount, up ¥27 million from the previous year, was a new high for Ghosn. He revealed the figure at an annual general shareholders meeting on Tuesday in Yokohama.

Nissan paid ¥738 million in total to seven internal board directors other than Ghosn in fiscal 2016. Ghosn said the size of executive payments is determined in line with other multinational corporations, including global automakers.

Nissan logged a record group net profit of ¥663.50 billion in fiscal 2016, up 26.7 percent from a year earlier, boosted by the sale of its stake in automotive component supplier Calsonic Kansei Corp.

Ghosn stepped down as Nissan president and chief executive officer in April in order to concentrate on his job as chairman.

At the shareholders meeting, the company was asked about the impact on its overseas business strategy from the administration of U.S. President Donald Trump in January and Britain’s planned exit from the European Union.

Nissan President and CEO Hiroto Saikawa said the company hopes to expand its operations in North America where it is enjoying strong sales.

“We’ll decide where to invest after closely watching the policy of the Trump administration,” he said.

Saikawa also said that Nissan’s British plant is sufficiently competitive.

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