business
Nomura Raises CEO Pay 36 Percent to $10 Million Despite Shares Trailing Market
Nomura Holdings increased CEO Kentaro Okuda’s compensation to ¥1.6 billion for the fiscal year ended March 31. The move followed the brokerage’s second consecutive year of record net income. Wholesale head Christopher Willcox received the highest pay at $17 million.
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Nomura Holdings raised CEO Kentaro Okuda’s compensation by 36 percent to ¥1.6 billion ($10 million) for the fiscal year ended March 31, Japan Times reported. The increase followed the Japanese brokerage’s posting of its highest-ever annual net profit and a second straight year of record net income under Okuda’s leadership.
Wholesale division head Christopher Willcox, the firm’s highest-paid executive officer, saw his pay rise 13 percent to $17 million in the same period.
Nomura has increased Okuda’s compensation each year since he took office in 2020 and has since raised its midterm profit targets. For comparison, Goldman Sachs Group CEO David Solomon received $47 million in 2025, while UBS Group CEO Sergio Ermotti earned 14.6 million Swiss francs ($18 million).
Daiwa Securities Group, Nomura’s largest domestic rival, raised CEO Akihiko Ogino’s compensation by 23 percent to ¥489 million.
The disclosure came ahead of Nomura’s annual shareholder meeting scheduled for Tuesday in Tokyo. No shareholder proposals are on the agenda. Nomura shares have risen about 10 percent in 2026, trailing the benchmark Topix index’s 20 percent advance.
