Mitsubishi UFJ Financial Group has become Japan's most valuable listed company after its shares climbed 2.3% to a record 3,541, lifting its market capitalization to 42 trillion yen, or about $259 billion. This marks the first time a bank has held Japan's top stock-market position since the current three-megabank groups were established. MUFG's valuation moved above Toyota Motor's roughly 41 trillion yen and Kioxia Holdings' 36.7 trillion yen. The advance extended across Japan's banking sector, with Sumitomo Mitsui Financial Group rising 1.6% to an all-time high. Japanese bank shares have strengthened since the Bank of Japan ended its negative interest-rate policy in March 2024 and subsequently raised rates four more times to 1%, allowing lenders to charge more for loans.
Bank of Japan
Mitsubishi UFJ Financial Group, Inc.
Sumitomo Mitsui Financial Group, Inc.
Kioxia Holdings Corporation
Toyota Motor Corp.