SoftBank Briefly Overtakes Toyota as Japan’s Most Valuable Company

SoftBank Group briefly overtook Toyota Motor Corp. on Monday to become Japan’s most valuable publicly traded company, driven by a sharp rally in technology stocks, reported Kyodo News.

SoftBank shares surged 14% during trading, while Toyota shares fell 4.5%. (Photo: SoftBank)

SoftBank’s market capitalization rose to more than 48 trillion yen ($301 billion), compared with Toyota’s approximately 46 trillion yen, according to Tokyo Stock Exchange data.

It marks the first time in over two decades that Toyota has lost the top valuation spot, which it has held since 2003.

SoftBank shares surged 14% during trading, while Toyota shares fell 4.5%. Kioxia Holdings ranked third following recent gains in its stock price.

Chairman and CEO Masayoshi Son said the shift reflects rapid competition in technology sectors, noting that companies must “stay sharp” in a fast-moving innovation landscape.