Mitsubishi UFJ surpasses Toyota Motor in market capitalization, topping Japan's stock market

Odaily reported that Mitsubishi UFJ Financial Group, Japan's largest bank, has risen to become the company with the highest market capitalization in Japan. This marks the first time a Japanese bank has claimed the top spot in the country's market cap rankings since the current "Big Three Banking Groups" structure was established.

According to Bloomberg-compiled data, shares of Mitsubishi UFJ Financial Group rose 2.3% on Monday to 3,541 yen, pushing its market capitalization to 42 trillion yen (US$259 billion). This surpasses Toyota Motor's market cap of approximately 41 trillion yen and Kioxia Holdings' market cap of around 36.7 trillion yen. (Jin Shi)