Toyota falls to 360th from 3rd in Forbes' ranking | autos | Hindustan Times
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Toyota falls to 360th from 3rd in Forbes' ranking

Toyota Motor Corp has fallen to 360th in the Forbes ranking of the world's leading companies for 2010 from 3rd the previous year. The sharp drop came after the major automaker was hit by a spate of recalls worldwide involving its vehicles and a decline in its sales amid the global auto market slump.

autos Updated: Apr 22, 2010 14:31 IST

Toyota Motor Corp has fallen to 360th in the Forbes ranking of the world's leading companies for 2010 from 3rd the previous year.

The sharp drop came after the major automaker was hit by a spate of recalls worldwide involving its vehicles and a decline in its sales amid the global auto market slump.

Only three Japanese companies -- Nippon Telegraph and Telephone Corp, Mitsubishi Corp and Honda Motor Co. -- were ranked in the top 100, compared with 11 the previous year, indicating the diminished presence of Japanese firms in the global economy. NTT was ranked at 41st, Mitsubishi 78th and Honda 86th.

Major financial groups also fell in the rankings, hit by deteriorating earnings, with Mitsubishi UFJ Financial Group Inc. dropping to 369th from 21st.

China, moving in the opposite direction, had seven firms in the top 100, with Industrial and Commercial Bank of China ranked 5th.

JPMorgan Chase topped the rankings, followed by General Electric and Bank of America, according to the Forbes list.