Mitsubishi UFJ Financial Group has become the most valuable company in Japan’s stock market, according to data compiled by Bloomberg. The move puts Japan’s largest bank ahead of Toyota Motor and marks the first time a bank has held the top spot since the current structure of the country’s three major banking groups was established.
On Monday, Mitsubishi UFJ shares rose 2.3% to 3,541 yen, lifting the group’s market capitalization to 42 trillion yen, or about $259 billion. That surpassed Toyota’s market value of about 41 trillion yen and Kioxia Holdings’ roughly 36.7 trillion yen.
The development is notable for Japan’s equity market because the top position has shifted to a bank rather than an industrial or technology-linked name. The figures cited in the report were compiled by Bloomberg and carried by Odaily, with Jin10 named as the source in the brief.
Mitsubishi UFJ moves to the top in Japan by market value
Mitsubishi UFJ Financial Group, Japan’s largest bank, has become the country’s most valuable listed company. According to data compiled by Bloomberg, it is the first time a Japanese bank has taken the top market-cap spot since the current “three major banking groups” structure was established.
Its shares rose 2.3% on Monday to 3,541 yen, pushing its market capitalization to 42 trillion yen, or $259 billion. That put Mitsubishi UFJ ahead of Toyota Motor, which was valued at about 41 trillion yen, and Kioxia Holdings, at roughly 36.7 trillion yen.
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