HS: Oh, I think Japanese executives, by American standards, are astonishingly underpaid. But most executives in Japan don’t work for money, pure and simple. They’re motivated by something else. I thought, when I first came into this job, that I could motivate Sony companies and empower them by giving financial rewards for performance, and it has zero impact.
FT: None at all?
HS: No, it has no impact whatsoever.
FT: So have you stopped doing it?
HS: Yes, pretty much. You can give a prize at the end of the year with a $2,000 cheque and get a smile you wouldn’t believe, but it isn’t the same culture in terms of reward. And when they see what CEOs make in this country and they see the rewards of Silicon Valley and the hedge funds and so forth, they basically shake their heads.