SoftBank tops Toyota as Japan's most valuable listed firm

SoftBank Group has overtaken Toyota Motor to become Japan’s most valuable listed company, a symbolic shift in the nation’s corporate leadership after more than two decades. The change occurred during trading on the Tokyo Stock Exchange on Monday, as SoftBank’s market capitalization reached approximately 47.2 trillion yen, surpassing Toyota’s 45.7 trillion yen.

The reversal was driven by a surge in SoftBank’s share price, which rose sharply following an announcement of a major investment in artificial intelligence infrastructure. Founder Masayoshi Son pledged to invest up to 75 billion euros in a network of AI computing clusters in France, calling it the largest such investment in Europe. SoftBank shares have risen nearly 73 percent this year, while Toyota’s stock fell nearly 5 percent on Monday.

Toyota had held the top position since 2003, when it surpassed telecoms group NTT Docomo. Its displacement marks a significant moment for Japan’s equity market, which has long been dominated by industrial and automotive giants. Analysts note the shift underscores how global investors are increasingly rewarding companies tied to AI infrastructure, chips, and technology platforms over...