According to Bloomberg on June 1, SoftBank Chairman Masayoshi Son's company saw its stock price surge by as much as 14% during trading on the Tokyo Stock Exchange. The rise was fueled by a broader rally in AI-related stocks across Asia, along with news that key portfolio companies OpenAI and SB Energy are preparing for U.S. listings, boosting investor sentiment.
As a result of this increase, SoftBank's stock has risen over 80% this year, pushing its market capitalization beyond 46 trillion yen (approximately $436 billion), surpassing Toyota's roughly 45.8 trillion yen (about $434 billion). In contrast, Toyota's stock has fallen more than 10% this year, with a decline of about 5% at one point during the day.
Bloomberg noted that this shift in market capitalization illustrates a rapid change in investor preference toward companies benefiting from AI infrastructure. While macroeconomic pressures and geopolitical tensions weigh on the automotive sector, the AI boom is driving gains in technology stocks.
If SoftBank maintains its gains through the market close, it will become Japan's top company by market capitalization for the first time in over 20 years, having briefly surpassed Toyota during the peak of the Japanese internet bubble in 2000.
However, the timing of the market capitalization shift may vary depending on the calculation method. Bloomberg indicated that under Japan's calculation method, which includes both outstanding shares and treasury stock, SoftBank is likely to surpass Toyota. Conversely, excluding treasury stock, SoftBank's market capitalization had already exceeded Toyota's last month. While it is customary in Japan to include treasury stock in market capitalization calculations, analysts often exclude it for global comparisons.
* This article has been translated by AI.
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