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U.S. Top, Japan Gaining in Revenue Stakes
08 July 1994
NEW YORK -- U.S. companies still rank as the biggest in the world, but Japan is fast gaining ground, helped along by the soaring yen, according to a Fortune Magazine's Global 500 survey. In its list of the world's biggest companies ranked by revenues, released this week, the United States put in the best showing for 1993, though its 159 firm ranking was below last year's 160. In the top 10, the United States had five spots. General Motors Corp. led the pack with $133.6 billion in sales, while Ford Motor Corp. and Exxon Corp. were right behind. Japan is the up-and-comer, adding seven new companies to the survey, giving the nation 135 on the list. The secret to Japan's success is the rising yen. Japan had three in the top 10, with Toyota Motor Corp. at No. 5, Hitachi Ltd. at No. 6 and Matsushita Electric Industrial Co. Ltd. in the eighth spot.
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