Japanese textile giant Teijin Ltd said on Wednesday executives of the Teijin group will have to take a pay cut for the first half of next year as it looks to make savings of around 100 million yen. Up to 70 executives will be affected by the cuts, with chairman Shosaku Yasui and president Toru Nagashima both having their pay slashed 15 per cent, while other senior staff will lose 10 per cent.