Toyota named best brand in Japan, Honda comes in second

Toyota took the best brand name title in Japan in a new marketing survey. The Japanese automaker beat out domestic companies such as Sony, Toshiba and Panasonic. Other Japanese automakers including Lexus, Nissan and Honda also made into the top 10 best brands list put together by consulting firm Interbrand Corp.

According to Automotive News, the ranking is based on the brand’s value in monetary terms and includes Japan’s top 30 companies. Toyota held the no. 1 spot with a brand value of $31.57 billion.

Domestic rival Honda came in at no. 2 with a value of $17.67 billion. Lexus took the no. 7 spot with a value of $3.23 billion while Nissan came in at no. 8 at $2.90 billion.

Joining the automakers in the top 10 were Canon, Nintendo, Toshiba, Sharp, Panasonic and Sony.