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SoftBank Group Overtakes Toyota as Japan's Largest Company by Market Value
SoftBank Group Corp. surpassed Toyota Motor Corp. in market capitalization during Tokyo trading on Monday. The change ended Toyota's more than 20-year position as Japan's largest company by market value.
Jun 1, 4:41 AM·1m read2 sources
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SoftBank Group Corp. overtook Toyota Motor Corp. as Japan's largest company by market capitalization during trading on the Tokyo Stock Exchange Monday. SoftBank's market value reached about 47.2 trillion yen, or roughly $296 billion. Toyota's market value stood at 45.7 trillion yen, or about $287 billion, after its shares fell 4.8 percent.
Toyota had held the top position among Japanese companies since 2003, when it passed telecoms group NTT Docomo. The shift ended a run of more than 20 years at the top. Investor demand for artificial intelligence and semiconductor-linked stocks contributed to the change in rankings.
Nikkei 225 Reaches Record High The Nikkei 225 rose more than 0.91 percent Monday and moved above 67,000. The index reached a record high during the session. The crossover between SoftBank and Toyota was confirmed during the exchange's mid-session trading.
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