SoftBank executives have their pay cut after record loss at Vision Fund

SoftBank Group’s top executives saw steep cuts in their paychecks as the Japanese conglomerate marked a historic loss for its Vision Fund unit.

The company’s founder and chief executive Masayoshi Son kept his pay unchanged at 100 million yen ($785,000), however some of his top executives whose compensation was made public through a company filing on Monday saw big drops following a record $20.5 billion loss.

Chief financial officer Yoshimitsu Goto made 293 million yen, down almost 40 per cent from the previous year. Ken Miyauchi, chief of SoftBank’s domestic telecom operation, made 539 million yen, down 15 per cent.

Both long-serving lieutenants have helped lead SoftBank’s multiple reinventions, from broadband provider to telecom operator to the world’s biggest tech investor.

Simon Segars, who stepped down as the head of the company’s chip unit Arm in February, earned 1.15 billion yen during the almost-three months that he was a board director, SoftBank said, without providing further details. Mr Segars received 1.88 billion yen in the previous year, ended March 2021.

Ronald Fisher, Mr Son’s long-time lieutenant who also stepped down from his role leading the Vision Fund’s US arm in April, earned 126 million yen during his time as a board director last year from April to June 23. He got 917 million yen in the prior year and remains an adviser to Mr Son.

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