Toyota Holds on to Top 10 Place in Fortune Global 500

Toyota Motors Corporation has survived yet another axe and stayed in the top 10 companies in Fortune Global 500 list

The updated Fortune Global 500 has dropped several Japanese companies from the list. The new listing has only 57 Japanese companies down from 62 last year, but Toyota Motors Corporation has survived yet another axe and stayed in the top 10 companies. However, Fortune noted that Toyota has dropped one level down to No. 9 from No. 8 with earnings of $18.2 billion last year. Toyota is expecting a slight drop down in sales over the next year, but the Yen is expected to strengthen and taxes to go up as well.

Other Japanese companies on the list include Honda Motor Co. Standing at No. 45, JX Holding Inc. Standing at 51 and Nissan Motor Co. at No. 61. In 1995, top four out of five and 12 out of top 20 were Japanese companies.

Now Wal-Mart Stores Inc took over the top place from Royal Dutch Shell PLC, with China’s Sinopec Group rounding up the world’s top three companies in terms of revenue. There is one Chinese company in top five and two in top ten of  Fortune Global 500 list; these are China National Petroleum Corp at 4 and State Grid Corporation of China at no 7. However, as expected Americans are leading the list with 128 companies followed by Chinese with 95.

Fortune said that all these ups and downs are because of the financial crisis and Global economic slowdown, and they have ranked up the companies by revenues and all sort of performance in 2013. The 95 companies from China posted revenue of $5.8 trillion, according to Fortune.