Toyota ranks 8th on Forbes list of top firms

by **Admin** Sat Apr 05, 2008 7:48 am

Toyota ranks 8th on Forbes list of top firms

Friday 04th April, 05:15 AM JST

Toyota Motor Corp came in eighth on this yearfs Forbes list of top corporations worldwide, with six other Japanese companies among the top 100, the U.S. economic magazine said Wednesday. Toyota rose from 12th last year in the ranking of 2,000 global leading companies, based on sales, profits, assets and market value.

British major bank HSBC Holdings PLC topped the list, replacing U.S. financial giant Citigroup Inc, which sank to 24th due to huge losses in the wake of the U.S. subprime mortgage woes. U.S. major electric and financial company General Electric came in second, followed by Bank of America. The number of Japanese companies in the top 100 remained unchanged at seven, including Toyota. The six others are Mitsubishi UFJ Financial Group, Mizuho Financial Group, Sumitomo Mitsui Financial Group, Honda, Nissan and NTT Co.