Sony becomes Japan's second largest company

Sony became the second-largest company in Japan by surpassing Mitsubishi UFJ Financial. PlayStation's parent company achieved the historic landmark by having a market cap of 154.33 Billion dollars. With a gain of 0.38%, Sony reached the second spot and is only behind Toyota in Japan. Mitsubishi UFJ Financial, Hitachi, and Keyence are on the list of Top 5 Japanese companies.

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One of the major reasons behind Sony's monumental achievement is the success of PlayStation in the region. Apart from the video game industry, Sony has made a name in Japan for the production of electric appliances like Televisions, Computers, Cameras, Walkman Audio players, and so on. Sony has been enjoying success despite the shift in popularity from system to system.

Sony has become Japan's second-biggest brand in terms of total stock value in the market. PlayStation's parent company crossed a market cap of 154.33 Billion dollars with a growth of 0.38%. At the same time, Mitsubishi UFJ Financial had a fall of 0.16% with a market cap of 150.67 Billion dollars.

Toyota dominates the Japanese market, and Nintendo is among the top 10 companies

Toyota stands tall among the Japanese companies with a huge lead in the market cap value. The popular car company witnessed a growth of 0.28% with a market value of 237.53 Billion dollars. Hitachi and Keyence are in the fourth and fifth spots on the list of 638 big Japanese companies.

Apart from Sony, three gaming companies are on the list of the top 100 Japanese companies. Bandai Namco and Konami are in the top 100 with a good market cap. But the second-best gaming company in Japan is Nintendo which is in the tenth spot among the top Japanese companies in terms of market caps.

The difference between Sony and Toyota is huge and it might take a long time for PlayStation's parent company to surpass the vehicle manufacturing company. PS5 is the most profitable generation Sony has ever had in the last 30 years or so. There is a high demand for PS5 and PS5 Pro in Japan.