BY YOSHIO TAKAHASHI

YOKOHAMA, Japan—Nissan Motor Co. Chief Executive Carlos Ghosn held on to his place as the highest-paid foreign executive at a listed Japanese company, with ¥982 million ($12.1 million) in total compensation in the latest fiscal year, a rise of 10% from the previous year.

The head of Japan's second-biggest car maker by volume told shareholders at an annual meeting Wednesday that his pay increase in the year through March came after the company boosted its net profit more than sevenfold from a year earlier and logged record global vehicle sales.

Mr. Ghosn's most recent pay package eclipsed the ¥863 million ...