Toyota valuation doubles in new CEO’s 1st year, nearing Tesla

NAGOYA, Japan — In the year since Koji Sato took the wheel as Toyota Motor’s president and CEO, the Japanese automaker reached new highs in valuation and earnings while also grappling with quality control scandals at group members.

On March 1, Toyota became the first-ever Japanese company with a market capitalization above 60 trillion yen ($395 billion), roughly double the figure at the end of March 2023. It had risen by 10 trillion yen over about three weeks as investors took note of the carmaker’s higher earning power.