Being home for up to 60% of global population, Asia is the fastest growing economic region in the world. The continent’s multiple economies, lead by such giants as China, Japan, India and others, are diverse and continuously developing. The world’s second-biggest economy after the US and the largest economy in Asia, China is the country of origin for the majority of the Asian companies that enter the famous Fortune Global 500 and Forbes Global 2000 ratings.
The biggest and swiftly developing companies, like Sinopec and Toyota Motor, are located in the biggest economies of the continent - China, Japan, India, South Korea and Indonesia. This makes the region a perfect investment target, able to bring serious dividends to those who’d like to contribute to the development of Asian economy.
Being a company intelligence platform, listing business information on over 65M companies, Global Database decided to share with you the list of the biggest Asian companies by sales. It could provide an objective overview of the local market and give hints on the most prospective enterprises for investment.
*All figures are in USD. M: Millions of USD, B: Billions of USD
*Average exchange rates: 7.07 CNY /108.55 JPY / 30.60 TWD to 1 USD
1. Sinopec (China) - $399.7B
China Petroleum & Chemical Corporation (further Sinopec) was the largest Asian company by sales in 2018. The company earned $399.7B in sales and achieved a profit of $9.5B in the last year. This is a full-cycle oil and gas giant from China, covering operations ranging from exploration and refinery to marketing, sales and export of oil, gas and derived products.
2. PetroChina (China) - $322.8B
PetroChina Company Limited (further PetroChina) is another Chinese petroleum big dog and one of the biggest oil and gas producers in Asia. PetroChina is one of the most successful companies in the country and in the whole continent, earning big money on exploration, refining and marketing operations all over the world. Its sales for 2018 were as big as $322.8B
3. Toyota Motor (Japan) - $272.1B
Toyota Motor Corporation (further Toyota) is the largest company in Japan with annual sales of $272.1B as of 2018 and the 6th biggest enterprise in the world by revenue. This international automotive manufacturer operates around 606 subsidiaries and 199 affiliates across three continents. Toyota is one of the leading hybrid electrical vehicles manufacturers and sellers on the market.
4. Samsung Electronics (South Korea) - $221.5B
Samsung Electronics Co., Ltd. (further Samsung) is the largest electronics company in Asia and the biggest semiconductors and consumer electronics manufacturer in the world by sales as of 2018 - $221.5B. Samsung operates in over 80 countries, employing more than 300,000 people at their shops and assembly plants. The company also has multiple dedicated stores in South Korea, US and Canada.
5. China State Construction Engineering (China) - $178.8B
China State Construction Engineering Corporation (further CSCEC) is one of the world’s biggest construction companies and the 5th largest company from Asia by annual sales - $178.8B. The company operates 8 subsidiaries across the continent. It has participated in the world’s known projects, such as Alexander Hamilton Bridge renovation in New York and the Shanghai World Financial Center construction.
6. ICBC (China) - $175.9B
Industrial and Commercial Bank of China Limited (further ICBC) is an international banking enterprise from China and one of the biggest state-owned commercial banks in the country. It’s one of the world’s largest financial institutions by assets ($4,034.5B) and the largest one in Asia by sales ($175.9B). The bank is operating internationally and has 6 main subsidiaries in Asia and South America.
7. Hon Hai Precision (Taiwan) - $175.6B
Hon Hai Precision Industry Co., Ltd. (also known as Foxconn) is the second biggest company from the Asian electronics industry by sales - $175.6B at the end of 2018, and the only Taiwanese company from our Asia top companies list by sales in 2019. Foxconn operates as an electronics manufacturing services provider for the most prominent companies from Asia, Europe and North America, producing such devices as the iPhone, Kindle, Xiaomi, Playstation and other.
8. Ping An Insurance Group (China) - $151.8B
Ping An Insurance (Group) Company of China, Ltd. (further Ping An) is a conglomerate from China, operating as a banking, financial and insurance services provider. The holding is one of the biggest in Asia by annual sales - $151.8B as of 2018. Ping An Insurance was the world’s 3rd biggest insurer by market cap ($220.2B) and the most valuable one ($217B) in the same year.
9. China Construction Bank (China) - $150.3B
China Construction Bank Corporation (further CCB) was one of the world’s biggest banks by market cap ($225B) and the 9th largest company in Asia by annual sales ($150.3B) in 2018. CCB is a multinational institution with over 13,500 domestic and multiple international branches with total assets of over $3,382B. The company employs around 350,000 professionals across 14 countries.
10. Honda Motor (Japan) - $142.6B
Honda Motor Company, Ltd. (further Honda) is an international holding from Japan, operating mainly as a car, motorcycles and power equipment manufacturer. Honda is present all around the world, running assembly plants in Asia, Europe, North and South America, that employ over 200,000 professionals. 2018 was a successful year for Honda, resulting in $142.6B in sales and recording a $50.5B market value.
11. Agricultural Bank of China (China) - $137.5B
Agricultural Bank of China (further ABC) is one of the “big four” Chinese banks, as well as CCB (#9 in our list). ABC operates an international network of around 24,000 branches, located in Asia, Europe, North America and Australia, that brought the company $137.5B in sales in 2018, making it one of the most prominent Asian companies. The bank serves almost 3M corporate clients and over 320M retail customers.
12. SAIC Motor (China) - $135.2B
SAIC Motor Corporation Limited (further SAIC) is a multinational car designer and manufacturer from China. The company is owned by the state and is one of the biggest local automakers. Its current production volume is about 5M vehicles per year. SAIC managed to earn $135.2B in sales in 2018, and its market value for that year was $51.5B.
13. Mitsubishi (Japan) - $127.4B
Mitsubishi Motors Corporation (further Mitsubishi) is an international car producer from Japan, one of the top 20 largest automotive manufacturers in the world and the 13th biggest Asian company by sales - $127.4B as of 2018. Mitsubishi became a part of the French-Japanese strategic partnership - Renault–Nissan–Mitsubishi Alliance after 34% of its shares were bought by Nissan.
14. Bank of China (China) - $126.7B
Bank of China is yet another member of the “big four” banks of the country, owned by the state. It registered $126.7B in sales, $27.5 B in profits and $3,097.6 B of assets at the end of 2018, making it the world’s 4th biggest bank by assets. The Bank of China employs around 310,000 professionals that serve an international branch network across Asia, Europe, North and South America.
15. Japan Post Holdings (Japan) - $115.6B
Japan Post Holdings Co., Ltd. (further Japan Post) is a Japanese holding, working in postal and logistics, as well as financial, banking and insurance fields across the country. Around 400,000 employees of Japan Post are working across 24,000 offices from four main divisions of the company. Their work in 2018 resulted in sales of $115.6B and profits of $4.3B. The company’s assets were worth as much as $2,619.7B in 2018.