President Akio Toyoda of Toyota received 352 million yen ($2.84 million) in total compensation last year after his bonus doubled to about $2 million, the Japanese company said.

Toyoda earned a bonus of 249 million yen in the year ended March, up from 127 million yen in the previous year. His base salary was unchanged.

Toyota in May reported a 19% rise in net profit to 2.17 trillion yen for the business year through March, and forecast a third consecutive year of record profit.

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