On May 26, SoftBank Group Corp. shares surged, pushing the technology conglomerate's market capitalization past Toyota Motor Corp., marking the first time in over 22 years that Toyota is no longer Japan's largest listed company.
According to market data, SoftBank shares rose more than 4% during trading, raising its total market capitalization to about 12.8 trillion yen (approximately $119 billion), exceeding Toyota's 12.7 trillion yen. This is the first time since March 2004, when Toyota surpassed NTT, that the automaker has not held the lead position.
SoftBank's rise comes amid a strong global tech stock recovery, especially after a sell-off earlier this year. SoftBank, with its large investments in artificial intelligence and technology, has benefited from this wave. Meanwhile, Toyota shares face pressure from concerns about slowing global auto demand and rising production costs.
Analysts say the shift reflects investor movement away from traditional industries toward high-tech sectors, particularly AI. SoftBank is focusing heavily on AI projects through its Vision Fund and strategic investment deals.
