News June 27 12:35 pm

Sony's return to profit means big pay day for Kazuo Hirai

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Sony's Chief Executive Officer Kazuo Hirai received a nice chunk of change as a result of the Japanese electronics maker's return to profit -- the first in five years for Sony. According to a company filing today with Japan's Finance Ministry (via Bloomberg), Hirai received 153 million yen ($1.6 million) in annual compensation. That's 74% higher than the 88 million yen he received last fiscal year while serving as an executive deputy president.

While Sony is currently riding the high wave of the PS4, due out this holiday season, Hirai pledged to shareholders that he will take "bold measures" to revive the company's TV and smartphone sectors.

“We expect our smartphone operation will improve earnings,” he said. “Making the TV unit profitable is a goal that must be met. We will accelerate expansion in emerging markets and new businesses.”

Tags: Sony