Sumitomo Mitsui Trust : Two Japan trust bank CEOs to take pay cut after vote-counting problem

TOKYO (Reuters) - Japan's Sumitomo Mitsui Trust Bank and the trust banking arm of Mizuho Financial Group said on Thursday they would cut the monthly salaries of their chief executives after vote-counting problems were found at more than 1,300 firms.

Sumitomo Mitsui Trust said it would cut its CEO's monthly pay by 10% for three months, while Mizuho Trust and Banking said its CEO would return 20% of three months' worth of pay.

The voting-counting problem began in September as an issue at Toshiba when the company said more than 1,000 postal voting forms for its shareholders meeting in July had gone uncounted. Sumitomo Mitsui Trust was entrusted to count votes for Toshiba.

Later, the problem widened into a larger scandal for corporate Japan as Sumitomo Mitsui Trust and Mizuho Trust and Banking revealed counting errors at 1,346 firms.

(Reporting by Takashi Umekawa; Editing by Chris Gallagher)