Toyota stock boosted the most - top!

・The stock price, which is 60 points above the Nikkei Average, is the highest among the 7 presidents since the birth of Toyota

・In the second year, it will be difficult to expect high stock price performance - BI Yoshida

Since President Koji Sato took office, the stock price performance of Toyota Motor Corporation has reached its highest level in the past 40 years or more since its first year as president.

Bloomberg compiled the difference between the gain/fall rate of Toyota stock (after dividend adjustment) and the Nikkei Stock Average for the 7 successive presidents since 1982/7, when Toyota Motor Corporation and Toyota Motor Sales merged and the current Toyota was born. Mr. Sato, who became the 12th president on 2023/4/1 at the age of 53, was the highest with a one-year stock price increase rate 60 points above the Nikkei Average at the closing price on the 29th. The 9th president Fujio Zhang continues with 28 points, and stock prices under President Sato stand out.

Stock price increases have accelerated since the beginning of '24, and the total market value contrasts with Tesla, the largest US electric vehicle (EV) manufacturer in the industry. Nevertheless, the predicted price-earnings ratio (PER) is in the 11 times range, and the stock price-net asset ratio (PBR) is in the 1.5 times range, so there is still no sense that it is expensive.

The eighth president, Okuda Seki, who was 106 points above the Nikkei Average during his entire tenure as president, is the best. President Sato, who is now in his second year, takes the lead of the giant ship Toyota with the aim of expanding corporate value in the automobile industry where environmental changes are drastic.

He pointed out that it is difficult to expect an increase in the number of units or price increases in the future, and it will also be necessary to solidify a foothold in response to scandals involving group companies. For this reason, they expressed the view that “it may be difficult to expect high stock price performance for the first year or so” without being surprised even if profit declines for the next fiscal year (fiscal year ending 25/3) come out in the financial results announcement in May.