5 Best Japanese Stocks To Buy In 2024

4. Toyota Motor Corporation (NYSE:TM)

Number of Hedge Fund Holders: 15

Toyota Motor Corporation (NYSE:TM) is a global automotive company that designs, manufactures, assembles, and sells a wide range of vehicles and related parts and accessories. It is one of the best Japanese stocks to monitor. 

On February 6, Toyota Motor Corporation (NYSE:TM) announced that it is making a $1.3 billion investment in electric vehicles by focusing on its flagship Kentucky battery electric vehicle (BEV) plant. The plant’s purpose is to manufacture a new three-row electric SUV. In a contrasting move to some major US automakers shifting away from EVs, Toyota, along with Honda and Ferrari, is intensifying efforts with new models and increased production to catch up in the electric vehicle market. Toyota previously unveiled EV concept vehicles, namely the Urban SUV and Sport Crossover, signaling its commitment to advancing electric mobility.

According to Insider Monkey’s fourth quarter database, 15 hedge funds were long Toyota Motor Corporation (NYSE:TM), same as the prior quarter. Ken Fisher’s Fisher Asset Management is the largest stakeholder of the company, with 6.2 million shares worth $1.14 billion.

Here is what Baron Fund has to say about Toyota Motor Corporation (NYSE:TM) in its Q1 2022 investor letter:

“Toyota’s (NYSE:TM) “kaizen” manufacturing philosophy is based on improving manufacturing by using “just in time” processes to eliminate waste and reduce inventory carrying costs. Clearly the company does not contemplate disruptive change that will dramatically lower costs and improve quality.”