Prudential Japan Executives Take Pay Cuts Over Employee Misconduct

Prudential Japan’s executives, including President Hiromitsu Tokumaru, will take 30% pay cuts for three months to take responsibility for widespread employee misconduct involving customer money, as a panel of experts found structural governance and business model issues.

Why it matters. Prudential Japan’s actions affect its reputation and customer trust, which could impact its business in a market dominated by domestic players.