Toyota ranked Japan's No1 global brand for 2010

Two Japanese car makers, Toyota, which last year emerged as the world's largest car maker, and rival Honda, both battered by a credibility crisis due to massive recalls of their vehicles, have been ranked number 1 and 2 spot respectively as the best global brand among Japanese companies in a 2010 ranking.

Global branding consultancy firm, Interbrand Japan Inc., has ranked Toyota Motor as the best global brand among Japanese companies in 2010, followed by Honda, Sony, Cannon and Nintendo.

Toyota was named the most valuable brand, having a brand value of $30,529, followed by Honda with $18,192, Sony with $11,973, Cannon with $10,469 and Nintendo $9,235.

Both car makers have issued worldwide recalls on some of their defective models, with Toyota perhaps making the largest recall ever in automobile industry. (See: Toyota recalls another 2.3 million vehicles and Now Honda issues global recall of three models)

Interbrand Japan said that the appraised value Toyota dropped 3 per cent from the previous year due to slower global sales, while the Honda brand grew 3 per cent, reflecting brisk sales of motorcycles in emerging economies.

Interbrand Japan said that value of Japan's Top 30 Global Brands fell from previous year as the global recession triggered by the global financial crisis has had a major impact on Japan's global brands.