15 Most Valuable Asian Companies
The Asian Tiger is rising. The Earth’s largest and most populous continent is becoming a hub of the global economic activity, and major powers are making a “pivot to Asia.” A McKinsey report predicts that by 2040, Asia could account for over half of the global GDP and 40% of global consumption. The report said that the “next phase of globalization” will unfold in Asia amid endless opportunities. Back in 2000, Asia accounted for just 32% of the global GDP. That share soared to 42% in 2017 and is set to touch 52% by 2040. The sheer speed of growth in major Asian economies is baffling for developed countries. The report said that Europe’s share in global GDP fell to 22% in 2017.
The coronavirus took its toll on the Asian economy, but a recovery in on the horizon. A 2020 ADB forecast said that the economy of the developing countries in Asia including India, Singapore, and the Philippines will contract 0.7% on the gross domestic product (GDP) and three-fourths of the region’s economies are set to register negative growth for the year. China is the only country that is projected to register positive growth.
Growth is likely to bounce back in 2021, with developing Asia expected to grow by 6.8% according to ADB. By the last quarter of 2020, China, the world’s second-largest economy, was expanding at a faster rate than before the crisis. After expanding at an annual rate of 4.9% in the third quarter, China’s growth soared to 6.5% in the fourth quarter. According to Guardian, an analysis of GDP figures had shown that industrial production stayed intact in December, growing at an annual rate of 7.3%, but the growth in retail sales decreased from 5% to 4.6%. Japan posted annual growth of 12.7% from October to December 2020, exceeding the market forecast of a 9.5% gain. Private consumption, which accounts for more than half of the economy, increased by 2.2%. The global turnaround in manufacturing activity has also given a much-needed boost to exports and capital expenditure. According to GlobalData, Singapore, the Philippines, Thailand, Malaysia, and Indonesia are projected to register positive GDP growth rates in 2021 as trade and gradual recovery in construction and tourism sectors are rising at a stable rate.
Diversified Asian Industry
The Asian economy boasts diversified industries mainly based on agriculture and minerals. In the post-war era, industrialization and high technology innovation have transformed Asia’s economy. Asia is also one of the most preferred regions for service-based industries such as outsourcing, IT, and finance. According to Statista, Asia is a hub for the leading financial centers including Tokyo, Shanghai, Singapore, Hong Kong, and Beijing.
Asia’s Digital Revolution
Asia is not far behind the world’s digital revolution. Asia’s most valuable companies such as Alibaba, Tencent, and Baidu are among the top players in the tech and cloud computing industry. According to the World Intellectual Property Organization, China, Japan, and South Korea are the leading countries with the highest number of AI patent filings. Japanese consumer companies held the largest AI-published patent applications from Toshiba, NEC, Fujitsu, Hitachi, Panasonic, and Canon. Singapore on the other hand is believed to be the land of the most successful start-ups, such as Sea Ltd. (Garena) (NYSE: SE). India has also increased its AI workforce from 40,000 in 2018 to 72,000 in 2019. Pakistan is also another young and rapidly-growing Asian market, with an increasing engagement in deep-tech nurturing. Pakistan was ranked the fastest-growing country in Asia for digital freelancers in 2019.
To give you the most accurate insights into the most valuable Asian companies, we ranked the most innovative companies in the region based on their market cap. Let’s take a look at the most valuable Asian companies starting from number 15.
15. Sinopec Corp (NYSE: SHI)
Market cap: $76.6 billion
Revenue: $369.2 billion
Assets: $254.8 billion
Headquarters: Beijing, China
Sinopec is a Chinese petroleum and petrochemical company. Sinopec aims to have 1,000 hydrogen-powered refueling stations by 2025, according to the company’s statement on its WeChat account. Sinopec plans to expand its hydrogen refueling network as the state-owned oil giant tries to play a role in China’s transition to cleaner energy.
Shares of SHI rallied 14.59% over the past three months.
14. NetEase (NASDAQ: NTES)
Market cap: $85.34 billion
Revenue: $9.8 billion
Assets: $16.1 billion
Headquarters: Hangzhou, China
NetEase is one of the most valuable Asian companies which operates as a prominent internet technology company. NetEase offers e-commerce services, advertising, online, and mobile games. According to a CNBC report, 79% of the company’s revenue is from online gaming but it is trying to grow in other areas, such as education and music streaming platform, Cloud Music.
Shares of NTES rallied 75.32% over the past twelve months.
13. NIO Inc (NYSE: NIO)
Market cap: $86.36 billion
Revenue: $1.13 billion
Assets: $2.09 billion
Headquarters: Shanghai, China
Often known as the Tesla (NASDAQ: TSLA) of China, NIO was founded in 2014. It designs and manufactures electric cars. The company held its IPO in 2018 and raised $1 billion. Also, the company’s launch of the battery-as-a-service subscription appears to attract customers. In January, the company delivered 7,225 vehicles, a remarkable 352% year-over-year jump.
Shares of NIO rallied 1,206.19% over the past twelve months.
12. Tata Consultancy Services Limited (BSE: TCS.BO)
Market cap: $100.7 billion
Revenue: $22.1 billion
Assets: $16 billion
Headquarters: Mumbai, India
Tata Consultancy Services was founded in 1968 and transformed the IT service and outsourcing sectors in India. Tata Consultancy is one of the most valuable Asian companies as it holds an integrated portfolio of IT services and engages in various segments such as insurance, communication, and retail.
Shares of Tata Consultancy Services Ltd. rallied 39.57% over the past twelve months.
11. AIA Group (OTC: AAGIY)
Market cap: $111.8 billion
Revenue: $.40.9 billion
Assets: $280.3 billion
Headquarters: Hong Kong, Hong Kong
AIA Group offers life insurance products and services and widely operates in Asian countries such as Thailand, the Philippines, China, Korea, Indonesia, and Taiwan. The company also provides employee benefits, credit life, and pension services to corporate clients. The AIA Group is one of the most valuable Asian companies present in 18 markets and continues to serve more than 30 million individual policyholders and more than 16 million group insurance members.
Shares of AAGIY rallied 30.44% over the past twelve months.
10. Reliance Industries (NSE: RELIANCE.NS)
Market cap: $123.8 billion
Revenue: $84.8 billion
Assets: $147.2 billion
Headquarters: Mumbai, India
Reliance Industries is one of the most valuable Asian companies founded in India in 1973. Today, the international conglomerate is headed by serial entrepreneur Mukesh Ambani and operates in the oil and gas, petrochemical, retail, and financial sectors.
Saudi Aramco is acquiring 20% in the O2C Reliance industry for $15 billion. Shares of RELIANCE rallied 45.61% over the past twelve months.
9. Keyence Corp (OTCMKTS: KYCCF)
Market cap: $131.63 billion
Revenue: $5.1 billion
Assets: $17 billion
Headquarters: Osaka, Japan
Keyence is a groundbreaking leader in the development and manufacturing of industrial automation and inspection equipment worldwide. The company was founded in 1972 by Takemitsu Takizaki and built several subsidiaries such as real estate, marketing, and advertising.
Shares of KYCCF rallied 62.20% over the past twelve months.
8. JD.com, Inc. (NASDAQ: JD)
Market cap: $162.11 billion
Revenue: $83.4 billion
Assets: $37.3 billion
Headquarters: Beijing, China
JD.com is one of the most valuable Asian companies as it is one of the biggest e-commerce platforms in China. The company is involved in the production of electronics and general merchandise products, including audio, video products, and books. According to a Bloomberg report, Richard Liu Qiangdong, the founder of JD.com, has listed JD Logistics in Hong Kong. The company did not indicate the amount it aims to raise, but JD.com is expected to earn about $5 billion by floating the logistics unit, with the total value of JD Logistics possibly reaching US$40 billion.
JD.com shares rallied 148.06% over the past twelve months.
7. Toyota Motor Corporation (NYSE: TM)
Market cap: $213.48 billion
Revenue: $280.5 billion
Assets: $495.1 billion
Headquarters: Toyota, Japan
One of the largest motor vehicle manufacturers in the world is one of Asia’s most valuable companies with 10.5 million units sold in fiscal 2020.
Toyota Motor and other companies have invested heavily in technology and have already managed to build some solid-state batteries.
Shares of TM rallied 13.35% over the past twelve months.
6. Kweichow Moutai (Private)
Market cap: $225.5 billion
Revenue: $11.3 billion
Assets: $25.6 billion
Headquarters: Renhuai, China
Kweichow Moutai is one of the largest liquor producers in China. Kweichow Moutai is a high-end spirit preferred by Chinese politicians and businessmen. Kweichow Moutai is one of the most valuable Asian companies in the world, having outperformed the UK-based company Diageo three years ago according to BBC.
Shares of Moutai rallied 114.27% over the past twelve months.