Sony is Now the Second-Largest Company in Japan

Sony has now become the second-largest company in Japan by market cap. The impressive achievement indicates that Sony has surpassed a number of well-known Japanese companies, including some of its competitors in the video game industry.

While PlayStation fans know Sony best for its contributions to the video game industry, the company has a long history of various electronic creations, including TVs, cameras, computers, and the iconic Walkman audio players. While the PlayStation series of consoles has seen its popularity shift from system to system, it seems Sony is having no shortage of success right now.

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Now, Sony has reached an incredible landmark, becoming the second-biggest company in all of Japan in term of the total value of its stock. At the time of publication, Sony has reached $153.87 billion in market cap, passing car manufacturer Mitsubishi, which is currently sitting at $150.07 billion. Other game companies on the top 100 list include Konami at $17.01 billion, Bandai Namco at $21.79 billion, and console competitor Nintendo, which takes the #10 spot with $89.45 billion. With that said, Sony would still need to grow substantially to take the #1 spot in all of Japan, as there is currently more than a $80 billion difference between Sony and the leader, car manufacturer Toyota.

Sony and the PlayStation 5 See Success

While Sony has been gradually building this legacy since the 1940s, it’s currently experiencing a great deal of success in general and with the PlayStation 5 console. In the 30 years that Sony has been producing the PlayStation line of gaming consoles, the PlayStation 5 is now the most profitable generation that Sony has ever had. It’s a remarkable achievement, especially since Sony set long-lasting records with the popularity of the PlayStation 2. In addition to the main consoles themselves, Sony has been behind some excellent video game releases, and has pursued virtual reality with the PlayStation VR2.

Demand for the PlayStation 5 and the PlayStation 5 Pro are still high, with the company increasing PlayStation 5 shipments. Meanwhile, Xbox has admitted to losing the console wars, with much of its focus now on Xbox Game Pass. Gamers are excited about the upcoming Nintendo Switch 2, which will see more details revealed in April. However, some analysts have speculated that the Switch 2 won’t reach the same incredible sales numbers that its predecessor reached. With all of these elements taken into consideration, it’s likely that Sony will continue to do quite well for the foreseeable future.

Sony

Date Founded

May 7, 1946

Headquarters

Minato City, Tokyo, Japan