In recent years, an increasing number of listed companies have been engaged in “Web 3.0” businesses such as blockchain, crypto assets, NFT, and metaverse, not only in IT but also in various other industries and sectors. Let us consider the stock price trends of such Web 3.0-related stocks.
Toyota Motor Corporation, for example, is researching and developing crypto assets and NFT through its group companies. In the first quarter (April-June) of the fiscal year ending March 31, 2024, Toyota Motor Corp. reported sales of 10,546.8 billion yen (+24.2% YoY) and operating profit of 1,120.9 billion yen (+93.7% YoY), a strong performance in itself.
The stock price also reached the highest level since its listing. In its core business, there are concerns about EVs and other issues, but if the company's performance is maintained, the share price should remain strong.
The Sony Group, which has grown into a global multinational conglomerate, is also working on games and NFT, and its share price as of early September was up about 15% from a year ago, not a bad trend. The company is forecasting sales of 12.2 trillion yen for the current fiscal year, and the more certain it is that it will achieve this goal, the more it will be reflected in the share price, and there is a strong possibility that the good trend will continue in the next fiscal year as well.
