Nikkei index driver shifts to tech firms from banks over past 34 yrs

Economy

The ranking of most valuable companies in Japan has seen a considerable change since the Nikkei index’s previous high in 1989, highlighting a structural shift in the country’s growth driver from banks to tech firms.

Today, six out of the top 10 firms in the country’s market capitalization ranking are tech companies, with Tokyo Electron Ltd., the world’s leading chip manufacturing equipment maker, coming third behind Toyota Motor Corp. and Mitsubishi UFJ Financial Group Inc.

Sensor giant Keyence Corp. ranked fourth, followed by entertainment conglomerate Sony Group Corp. Telecom giant Nippon Te...

Kyodo News

Kyodo News