SoftBank Group surpassed Toyota Motor Corp. as Japan's most valuable publicly traded company on June 1, 2026. This shift ended Toyota's 22-year streak as the nation's market leader. SoftBank’s market capitalization reached ¥48.48 trillion during the session.
Toyota’s market value fell to ¥45.89 trillion. The automaker's share price dropped 4.49% on the day of the change. SoftBank shares surged due to the global artificial intelligence boom. Toyota had held the top position in Japan since December 2003.
Investors are increasingly favoring technology stocks over traditional industrial sectors. In a separate move, Toyota reportedly discontinued the development of its Lexus LF-ZC electric vehicle. The concept was unveiled in 2023 to showcase advanced production and battery technology. This cancellation signals a potential shift in the company's electrification strategy.