Management Pockets A 19% Raise As Toyota Racks Up Records Profits

Toyota Motor Corp., the world’s biggest carmaker, plans to boost pay to directors by 19 percent for the last fiscal year after the company earned record profit.

Toyota proposed 1.52 billion yen ($14.9 million) in combined compensation and bonuses to 21 directors, including President Akio Toyoda, in a notice to shareholders Tuesday. The Toyota City, Japan-based company paid 1.28 billion yen the previous fiscal year.

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Sciros - 5/27/2014 12:09:56 PM

0 Boost

Very commendable! These impoverished directors were having to shop at Aldi just to make ends meet, so it's nice to see them get some of the share of record profits. In the meantime: "Toyota Motor Corp. (7203) agreed to increase base wages in Japan for the first time since 2008 as the nation’s largest company heads for record profits. The average Toyota Motor Workers’ Union member will earn 2,700 yen ($26) more in base pay per month, Senior Managing Officer Naoki Miyazaki told reporters today. That’s 0.8 percent of last year’s average salary."

So that's 0.8% increase for the people making the cars, and 19% increase for those... "directing"... SMH

Agent009 - 5/27/2014 12:55:10 PM

-1 Boost

And to think of it. The artificially lowered Yen probably accounted for half of those profits at least. So basically they gave themselves a raise based off government policy.