NEW YORK (Kyodo) Fortune magazine has named Toyota Motor Corp. one of America's 10 most admired companies for the first time, based on the publication's annual report card on corporate reputation.
Toyota, ranked ninth, is the first non-American corporation to join the top 10 since the business magazine started releasing the rankings in 2001.
In addition to its strong annual consolidated net profit exceeding 1 trillion yen, the magazine's March 6 edition commends Toyota as a "pioneer" of new technologies such as its environment-friendly hybrid electric-gasoline vehicles.
General Electric Co. is ranked No. 1, after coming in second last year.
Major computer manufacturer Dell Inc. retreated to eighth from last year's top slot while retail titan Wal-Mart Stores Inc. moved out of the top 10 rankings from fourth last year.
Fortune's rankings are based on the opinions of 10,000 executives, directors and securities analysts, who were asked to rate companies in their industry in eight evaluation areas -- innovation, employee talent, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investments and quality of products and services.