MUFG Overtakes Toyota as Japan’s Most Valuable Firm, Spurred by Rate Hikes

Mitsubishi UFJ Financial Group (MUFG) surpassed Toyota Motor Corp. as Japan’s most valuable company by market capitalization.

MUFG’s market value temporarily exceeded ¥42.2 trillion (approximately $260.2 billion) on July 13.

This development marks the first time in nearly 40 years that a financial institution has led Japan’s market rankings.

Capital is flowing into bank stocks as the Bank of Japan raises interest rates.

Investors expect these rate hikes to fuel significant earnings growth across the financial sector.