Tokyo: SoftBank Group Corp. on Monday overtook Toyota Motor Corp. to become Japan's most valuable company, underscoring investor enthusiasm for artificial intelligence and reshaping the country's corporate hierarchy.
Shares of the Masayoshi Son-led technology conglomerate surged 14% in Tokyo trading, lifting its market capitalisation above Toyota's for the first time in more than two decades. SoftBank's market value crossed ¥48 trillion, compared with Toyota's roughly ¥46 trillion. The last time SoftBank briefly surpassed Toyota was during Japan's dotcom boom in 2000.
