The forecast is looking bright at Toyota with profits and sales expected to hit their highest levels in six years. With great corporate profits come great corporate bonuses as well, at least for the board members of the Tokyo-based automaker.
Toyota released a statement to shareholders saying they plan to increase both compensation and bonuses some 28 percent for board members, auditors, and directors. It breaks down to a $10.8 million compensation increase and $4.1 million in crease in bonuses.
Toyota recently reclaimed its title as world’s largest automaker after surpassing General Motors and Volkswagen last year. Automotive News reports that Toyota expects a whopping 42 percent increase in net income to $13.4 billion by March 2014.
Toyota will decide exactly how much to increase compensations and bonuses at its June 14 shareholders’ meeting.