2024-01-28 19:03:07
Oman: The market value of the Japanese automaker Toyota rose to its highest level ever during this week’s trading, supported by the recent recovery of its country’s stock market with foreign investors flocking to shares of major companies.
The market value of Toyota reached 48.7 trillion yen ($328.8 billion), with its stock rising for five consecutive sessions. This compares to its previous record market value, recorded on May 11, 1987, at 48.6 trillion yen, according to NTT data. .
Toyota shares rose by 15% from the beginning of 2024 until yesterday, and Mamoru Shimode, chief strategist at Arizona Asset Management, explained that Toyota shares are the first choice for investors wishing to enter the Japanese market.
The Japanese company’s ability to achieve profits enjoys the confidence of investors. Toyota expects to record a growth in total profits of 65% to 4.5 trillion yen on an annual basis during the fiscal year that ends next March 31.
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