Toyota's market cap sets new Japan record, topping bubble-era NTT

     
Toyota's market cap sets new Japan record, topping bubble-era NTT

TOKYO/NAGOYA, Japan -- Toyota has set a new Japanese market capitalization record, hitting 48.7 trillion yen at the end of Tuesday's trading in Tokyo.
 
The previous Japanese record for highest market cap based on closing price was the 48.6 trillion yen set by telecommunications giant NTT on May 11, 1987, not long after it was privatized and listed, Nikkei data shows. It was a time when large-scale listings sparked an investment boom among retail investors and stock prices soared, fueling the bubble economy.
 
Toyota's rise, however, comes as overseas investors flock to blue chips.