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A Look at Japan's Economy

Japan's GDP may have reached $5 trillion in 2022 due to steady growth.

The country's GDP grew 2.8% last year, which is good considering Godzilla attacks and giant robot battles.

The Japanese economy will grow like a bonsai tree in five years.

According to Fitch Solutions, the country's GDP will grow 1.3% annually. Higher trade and government spending will cause this.

This growth is due to government aid, exports, and consumer spending.

Low unemployment and stable inflation make the economy stable.

Despite supply chain issues and the pandemic, experts are optimistic about Japan's economic future.

Japan's exports grew with GDP. Their growing tech industry and love of cute cat videos contributed to this. Japan strengthened their economy while the world watched Netflix and ate potato chips during lockdowns.

Japan has the most famous companies by market value and number of employees.

The electronics and car markets have many big players.

Japan's largest and most well-known companies by market value are Toyota, Sony, SoftBank Group, and Mitsubishi UFJ Financial Group.

Which Japanese company is the biggest?

In December 2023, Toyota Motor Corporation had a market value of about 42.3 trillion Japanese yen, making it the biggest company in Japan. With a market value of 16.9 trillion yen, Sony Group Corporation came in second. Japan's Tokyo Stock Exchange is one of the biggest in the world, with a market value of over 867 trillion yen.

Top 10 Largest Companies In Japan By Market Capitalization
The Largest Companies In Japan By Market Capitalization

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Top 10 Largest Companies In Japan By Market Capitalization

1. Toyota

Market Cap: $261.14

Toyota Motor Corporation (TYO:7203.T), which is based in Japan, is the biggest company in the country by market value. When you look at the number of workers and market capitalization, Toyota is clearly the biggest company in Japan.

Wikipedia says they have over 366,283 employees. With a product line that covers everything from small cars to hybrids, they are the biggest company in their field.

Not only that, but they also make a pretty big difference to Japan's GDP—nearly 8% of the whole country's GDP, to be exact!

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2. Sony Corporation

Market Cap: $118.78

Sony Group Corporation (TYO:6758.T) is one of the most famous companies in Japan. It began in 1946 and has its main office in Tokyo. The company sells a wide range of entertainment and consumer goods. Sony's PlayStation video game system is one of the best-selling items in the world, and its Walkman portable music player changed the way people used portable music players. In addition, Sony Group Corporation (TYO:6758.T) has its own studios for making movies and computer games.

3. Keyence

Market Cap: $107.51

Keyence Corporation (TYO:6861.T) is an Osaka-based company that makes automation tools. The company makes and sells many different items that keep workers safe, let workplace machines talk to each other, and let machines measure units during production. It makes sensors, cameras, fiber optics, microscopes, and data loggers, among other things. The Keyence Corporation (TYO:6861.T) sells its goods all over the world, including in the U.S. and China. Its customers are in fields like making cars, making semiconductors, molding, healthcare, and making steel.

4. Mitsubishi UFJ Financial

Market Cap: $105

Mitsubishi Group, or just Mitsubishi, is a business company that works in many fields. The companies are officially separate, even though they work together on business projects and are technically under the same name. MUFG Bank, Mitsubishi Corporation, Mitsubishi Electric, and Mitsubishi Heavy Industries are the important ones. It began as a shipping company and expanded as needed to stay in business. For example, it mined coal for fuel, built a shipyard for repairs, and used an iron mill to feed the shipyard.

5. Nippon telegraph and telephone

Market Cap: $99.72

This is NTT, which stands for Nippon Telegraph and Telephone. It is one of Japan's biggest phone companies.

This tech giant is a big deal. It has over 303,3500 workers (Source: Wikipedia) and a market value of over $102.98 billion (Source: companiesmarketcap).

NTT has a lot of different goods and services, like cell phones, high-speed internet, and data center solutions.

It is also a big part of the Japanese economy; it makes up more than 1% of the country's GDP.

6. TOKYO ELECTRON LIMITED

Market Cap: $80.67

Tokyo Electron Limited (TYO:8035.T) is a company based in Tokyo that makes tools for semiconductors. It makes testing tools, coaters, and coating systems, among other things.

7. Shin-Etsu Chemical

Market Cap: $76.06

Chemical company Shin-Etsu Chemical Co., Ltd. (TYO:4063.T) is based in Tokyo. It also sells caustic soda, pipes, and things that are used to make electronics.

8. Fast Retailing

Market Cap: $75.35

Fast Retailing Co., Ltd. (TYO:9983.T) is a clothing business that sells clothes for kids, adults, and teens. The business began in 1949 and has its main office in Yamaguchi. It is Japan's biggest clothing store and producer in terms of market value. Fast Retailing Co., Ltd. (TYO:9983.T) is best known for its UNIQLO clothing brands. It has different divisions for selling goods in Japan and around the world. It also has a foothold in the real estate business and runs its own stores as well as franchised locations.

9. Hitachi

Market Cap: $67.43

Hitachi, Ltd. (TYO:6501.T) is a company based in Tokyo that has been making industrial tools since 1910. A lot of different things are made and sold by the company, like ATMs and industrial process scanners.

10. KDDI

Market Cap: $66.87

KDDI is a Japanese phone company with a lot of amazing numbers. KDDI is a big name in the tech business. It has over 48,829 employees (source: macrotrends) and a strong position in the cell phone market.

It sells a lot of different things, from smartphones to internet services to AI technology. In terms of GDP, KDDI made more than $48,476 billion in 2020 (source: macrotrends), which is a lot of money.

In conclusion

Japan is full of contrasts that are all beautiful. Its industrial areas and unique landscapes work together perfectly. One thing that strikes people about it is that it is one of the biggest automakers in the world while also being the least dependent on exports among the G7. It doesn't get a lot of foreign direct investment, but it is still one of the biggest creditor countries.

This list of the top 10 companies in Japan by market cap shows how flexible the country's economy is. It also shows a lot of other unique things about Japan.

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