Summary
- Stocks that exceed the Nikkei Average by 60 points, the highest among the 7 presidents since the birth of Toyota.
- It becomes difficult to expect high stock performance in the second year - Mr. BI Yoshida.
Background
Since President Tsuneharu Sato took office, Toyota Motor's stock performance in the first year has been the highest in over 40 years.
Regarding the 7 successive presidents since the birth of the current Toyota in July 1982, which was born from the merger of Toyota Motor Industry and Toyota Motor Sales, Bloomberg aggregated the difference in stock price performance (dividend-adjusted) between Toyota stock and the Nikkei Stock Average. Mr. Sato, who became the 12th president at the age of 53 on April 1, 2023, had the highest stock price increase exceeding the Nikkei Average by 60 points at the closing price on the 29th, in his first year. President Nobuo Fuji, the 9th president, followed with 28 points, highlighting the stock price rise under President Sato.
In 2024, stock prices have been accelerating, with a market capitalization that is becoming the largest in the industry, in contrast to Tesla, the largest electric vehicle (EV) manufacturer in the United States. However, the expected price-earnings ratio (P/E ratio) is around 11 times, and the price-to-book value ratio (P/B ratio) is around 1.5 times, still without a sense of overvaluation.
Ozaki Takeshi, the 8th president, surpassed the Nikkei average by 106 points throughout his presidency, setting a record. As President Sato enters his second year of office...

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