SoftBank dethrones Toyota after over 20 years to become Japan’s most valuable company
Japan’s corporate pecking order has witnessed a major shake-up, with SoftBank Group overtaking Toyota Motor Corporation as the country’s most valuable company, Bloomberg reported. On Monday (June 1), shares of the Masayoshi Son-led conglomerate surged 14% in Tokyo trading, taking SoftBank’s market capitalisation beyond 48 trillion yen and pushing it ahead of Toyota’s roughly 46 trillion yen valuation.
The development marks the first time in over two decades that SoftBank has surpassed the automaker in market value, apart from a brief moment during Japan’s dot-com bubble in 2000.
