The figure was second only to remuneration for SoftBank Group Chief Operating Officer Marcelo Claure, which rose 17 percent to 2.1 billion yen.

While offering big pay packets to foreign executives, compensation for CEO Masayoshi Son was 209 million yen ($1.9 million), a 9 percent decline compared to a year earlier, a SoftBank filing showed.

SoftBank’s massive annual operating loss was largely due to an $18 billion shortfall at the $100 billion Vision Fund, which has seen investments in startups like office-sharing firm WeWork and ride-hailing app operator Uber flounder.

A key architect of the disastrous WeWork investment, Vice Chairman Ron Fisher who was the group’s most highly paid executive in the previous business year, saw his remuneration slashed 80 percent, to 680 million yen ($6.3 million). COO Claure has become WeWork’s executive chairman as SoftBank restructures the startup.

The heavily indebted tech conglomerate’s growing dependence on Japan’s big three banks was underscored by the filing — with borrowing from top lender Mizuho Financial Group more than doubling to 1.39 trillion yen in the year ended March.

Together with Mitsubishi UFJ Financial Group and Sumitomo Mitsui Financial Group, borrowing climbed by more than 1 trillion yen, to 2.45 trillion yen.

SoftBank’s deteriorating performance has forced Son into a program of asset sales, including a 1.25 trillion yen monetization of Alibaba shares, to fund buybacks and shore up the group’s balance sheet.

Earlier this month Son told investors that tech unicorns have plunged into the “valley of the coronavirus.”