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Out of the Japanese Fortune Global 500 companies, Honda Motor was the largest company headquartered in Tokyo in 2020. The ranking was based on annual revenue which in the case of Honda amounted to more than *** billion U.S. dollars. Mitsubishi was the second largest Japanese Fortune Global 500 company with its headquarters in Japan’s capital, generating an annual revenue of close to *** billion dollars.

Scarce office space

The population of the Greater Tokyo Area is home to more than ** million people and despite high rents has attracted many companies to set up their headquarters there. This has led to tight supply-demand conditions and a low annual average vacancy rate for office space. However, some building completions in recent years added supply to the office market in Tokyo. The total office space in the Tokyo Metropolitan area amounted to nearly ** thousand hectares as of 2019.

How to keep up with Hong Kong and Singapore

Although Tokyo is not only popular among Japanese companies, but also among global companies, it has recently been struggling to compete with even more attractive Asian cities, such as Singapore or Hong Kong. Possible measures to satisfy the world’s business elites include improving Tokyo’s infrastructure, simplifying procedures for setting up businesses and inviting competitive international schools.