Japan’s Listed White Goods Leaders — Market Cap Trends at a Glance
This visualization is part of a broader analysis my team and I conducted to profile Japan’s leading listed white goods manufacturers
We selected only publicly listed Japanese companies (Market Cap>USD $10 Billion) with significant operations in the white goods sector (large household appliances such as refrigerators, washing machines, and air conditioners). Market cap data as of Aug 22, 2025 (converted to USD where appropriate).
FAQ — Understanding This Chart
Q1: Why isn’t Sony included? Sony’s core business is in consumer electronics, gaming, entertainment, and financial services. It does not operate at scale in the white goods category (large household appliances like fridges, washing machines, ovens, and air conditioners), so it falls outside the scope of this chart.
Q2: Why isn’t Toshiba included? Toshiba was delisted from the Tokyo Stock Exchange in December 2023 after a buyout and is now privately held. Because our dataset only covers publicly listed companies, Toshiba is excluded.
Q3: What exactly counts as “white goods” in this analysis? We define white goods as large household appliances for cooling, cleaning, and cooking — e.g., refrigerators, washing machines, ovens, dishwashers, and air conditioners. Companies must have significant sales in these product categories to qualify.
Q4: Why are companies mainly HVAC specialists (e.g., Daikin) included? HVAC products — particularly large air conditioning systems — fall under the “white goods” umbrella in many industry classifications. Companies with significant domestic appliance presence in HVAC are included if they are publicly listed in Japan.
Q5: Why does the market cap vary so much between companies? Some giants (like Hitachi or Mitsubishi Electric) are diversified conglomerates with revenue streams far beyond appliances.
Q6: What’s the data source for the market cap figures? Market capitalization data is sourced from MarketCapWatch, using the latest available values at the time of analysis.