During today’s trading, SoftBank surpassed Toyota Motor, becoming the most valuable company listed on Japan’s stock market. This marks the first time in 23 years that Toyota Motor has not held the top position in the national corporate ranking.
What's driving the change
The principal driver of the shift is SoftBank’s stake in OpenAI. The Japanese group has invested a total of about $65 billion in OpenAI across multiple funding rounds. SoftBank currently owns roughly 13 percent of OpenAI.
OpenAI is preparing for a public offering; based on an assumed valuation of around $1 trillion, SoftBank’s OpenAI position alone would be worth more than $130 billion. This valuation-based calculation was noted by Erstemarket.
Why it matters
SoftBank’s rise highlights how investments in technology — and AI in particular — can significantly influence market capitalization. Toyota Motor, which led Japan’s corporate rankings for decades, has been displaced, underlining a shift in relative strength between traditional industrial firms and technology investors.
Key figures
- SoftBank’s total investment in OpenAI: about $65 billion.
- SoftBank’s stake in OpenAI: approximately 13%.
- Assumed OpenAI valuation used in the calculation: about $1 trillion; implying a SoftBank OpenAI stake value exceeding $130 billion.
How these rankings evolve further will depend on the details of OpenAI’s IPO and broader market reactions.
