Page 54 - Forbes - Asia (June 2018)

GLOBAL 2OOO
FORBES ASIA
LEAR US 780 S MICROSOFT US 20 T
LEG IMMOBILIEN GE 1647 O MIDEA CN 245 S STANLEY
LEGAL & GENERAL UK 187 O MIGDAL INSURANCE IS 1480 S
LEGEND CN 692 T MINEBEA JA 1488 O
LEGRAND FR 1063 S MIRAE ASSET DAEWOO KO 1299 S
LEIDOS US 1502 S MIRAE ASSET LIFE INSURANCE KO 1947 O
LENDLEASE AU 1197 T MITSUBISHI JA 112 S
LENNAR US 655 S MITSUBISHI CHEMICAL JA 441 T
LENOVO HK 1080 T MITSUBISHI ELECTRIC JA 298 T is littered with stories
LEONARDO IT 1290 T MITSUBISHI ESTATE JA 564 T about legacy compa-
LEUCADIA NATIONAL US 1052 T MITSUBISHI HEAVY INDUSTRIES JA 575 S
LG CHEM KO 474 S MITSUBISHI MATERIALS JA 1424 T nies that were compla-
LG KO 748 S MITSUBISHI MOTORS JA 810 S
LG DISPLAY KO 778 T MITSUBISHI UFJ FINANCIAL JA 37 T cent, inwardly focused,
LG ELECTRONICS KO 411 S MITSUBISHI UFJ LEASE JA 1133 T
LG HOUSEHOLD & HEALTH CARE KO 1247 S MITSUI JA 183 S arrogant.”
LG INTERNATIONAL KO 1982 O MITSUI CHEMICALS JA 1339 S
LG UPLUS KO 1490 S MITSUI FUDOSAN JA 399 T Stanley’s variable-
LI & FUNG HK 1849 T MITSUI OSK LINES JA 1401 T
LIBERBANK SP 1774 S MIZRAHI TEFAHOT BANK IS 1527 T voltage battery didn’t
LIBERTY BROADBAND US 1153 S MIZUHO FINANCIAL JA 114 T
LIBERTY EXPEDIA US 1310 T MMI SA 1559 S reach stores until June
LIBERTY GLOBAL UK 735 T MOHAWK INDUSTRIES US 929 T
LINCOLN NATIONAL US 379 T MOL HUNGARIAN OIL HU 921 S 2016, but it looks like
LINDE GE 352 T MOLINA HEALTHCARE US 1674 S
LINDT & SPRUNGLI SZ 1560 T MØLLER-MAERSK DE 587 T a winner. Lithium-ion
LINK REIT HK 817 S MOLSON COORS BREWING US 672 T
LIUZHOU IRON & STEEL CN 1907 T MONDELEZ INTERNATIONAL US 211 S batteries are getting
LIVE NATION ENTERTAINMENT US 1686 S MONDI UK 1132 T
LIXIL (CONSTRCT MATERIALS) JA 1147 T MONSANTO US 427 T big enough these days
LKQ US 1328 T MONSTER BEVERAGE US 1175 T
LLOYDS BANKING UK 94 S MOODY’S US 1095 S to run not just hand-
LOCKHEED MARTIN US 208 T MORGAN STANLEY US 50 S Mercuries & Associates 1504
LOEWS US 488 S MOSAIC US 1372 T held drills but also
LOGAN PROPERTY CN 1387 S MOSCOW EXCHANGE RU 1667 T Mercuries started as a humble exporter of handicrafts
LONDON STOCK EXCHANGE UK 751 S MOTHERSON SUMI SYSTEMS IN 1698 S standing equipment
LONGFOR PROPERTIES CN 494 S MOTOROLA SOLUTIONS US 1541 T in 1965. It has since diversified into retail businesses
LONGI GREEN ENERGY TECH CN 1659 T MS&AD INSURANCE JA 334 T including restaurants and department stores as well like table saws. The big
LONZA SZ 1074 S MSCI US 1993 O
L’ORÉAL FR 207 T MTN SA 1069 T as the life insurance, pharmaceutical and computer tools, though, need a
LOTTE CHEMICAL KO 700 S MTR (TRANSPORTATION) HK 545 S equipment sectors. The group’s life insurer, Taiwan’s
LOTTE SHOPPING KO 1231 T MTU AERO ENGINES GE 1831 O much higher voltage to
LOWE’S US 211 T MUNICH RE GE 279 T eighth largest, contributed 78% of its revenues last
LUKOIL RU 98 S MURATA MANUFACTURING JA 632 T year, followed by 9% from retail. Company chairman operate eiciently. The
LUNDBERGS SW 1454 T MURPHY USA US 1881 S
LUNDIN PETROLEUM SW 1695 O MUSASHINO BANK JA 1840 T Henry Chen, 53, took the helm upon his father’s designers in Maryland
LUXOTTICA IT 793 T MYLAN UK 652 T death in 2004. His three younger brothers run
LUZERNER KANTONALBANK SZ 1856 S NAN YA PLASTICS TA 617 S figured out how to
LUZHOU LAO JIAO CN 1672 O NANJING IRON & STEEL CN 1990 T subsidiaries. The Chens own a combined quarter
LYONDELLBASELL INDUSTRIES UK 291 S NANTO BANK JA 1735 T stake with cofounder Chao-Hsi Weng’s family taking make batteries inter-
M&T BANK US 536 T NANYA TECHNOLOGY TA 1412 S
MAANSHAN IRON & STEEL CN 1390 O NARI TECHNOLOGY DEV CN 1657 O another 25%. In May, Japan’s Sumitomo Corp. agreed changeable by having
MACQUARIE AU 375 T NASDAQ US 1204 S to buy 22% of the group’s supermarket chain Simple
MACY’S US 729 S NASPERS SA 531 S the tool tell the battery
MAGNA INTERNATIONAL CA 391 S NATIONAL AUSTRALIA BANK AU 125 T Mart for $41 million following an earlier drugstore
MAGNIT RU 1152 T NATIONAL BANK OF CANADA CA 529 S partnership. Sumitomo will help Simple Mart double what kind of juice it
MAGNITOGORSK IRON & STEEL RU 1214 S NATIONAL BANK OF GREECE GR 1616 T
MAHINDRA & MAHINDRA IN 826 S NATIONAL BANK OF KUWAIT KU 809 T its store count by 2023, from 630 now. The island’s wants.
MAKITA JA 1709 S NATIONAL COMMERCIAL BANK SU 455 T second-largest chain reported double-digit growth
MALLINCKRODT UK 1427 O NATIONAL GRID UK 249 T with $355 million in 2017 sales. By this trick Stanley
MANPOWER US 1297 T NATIONAL OILWELL VARCO US 1209 T
MANULIFE CA 184 T NATIXIS FR 347 T gets carpenters ad-
MAPFRE SP 566 T NAVER KO 1316 T
MARATHON OIL US 1359 T NAVIENT US 1409 T dicted not just to its
MARATHON PETROLEUM US 216 S NEC JA 1010 T
MARINE HARVEST NO 1846 T NESTE OIL FI 784 S tools but also to its batteries, which retail for up to $199 apiece. They’ll pay
MARKEL US 1102 T NESTLE SZ 48 T
MARKS & SPENCER UK 1845 T NETAPP US 1578 S extra to be able to build a house without lugging a noisy generator to the
MAROC TELECOM MO 1509 O NETEASE CN 823 T job site and tripping over power cords. Stanley is hauling in $300 million
MARRIOTT INTERNATIONAL US 421 S NETFLIX US 602 S
MARSH & MCLENNAN US 500 T NEW CHINA LIFE INSURANCE CN 402 T a year on its FlexVolt batteries and wants to see a lot more breakthroughs,
MARTIN MARIETTA MATERIALS US 1478 S NEW RESIDENTIAL INVESTMENT US 1324 S
MARUBENI JA 348 S NEW WORLD DEVELOPMENT HK 585 S meaning innovations that will each add $100 million or more to revenue.
MASCO US 1314 T NEW YORK COMMUNITY US 1472 T
MASHREQ BANK AE 1463 T NEWELL BRANDS US 544 S Loree, 59, who has been running the company for two years, is a
MASRAF AL RAYAN QA 1483 T NEWMONT MINING US 1099 T
MASTERCARD US 367 S NEWS CORP US 1642 T finance guy, not an engineer. He joined General Electric in 1980 as an
MATCH US 1952 T NEXON JA 1493 O
MATERIALS IND ZHONGDA CN 1203 S NEXT UK 1435 T auditor and spent 19 years there, mostly at GE Capital. In 1999 John
MAXIM INTEGRATED PRODUCTS US 1662 T NEXTERA ENERGY US 182 S
MAXIS MA 1779 T NH FOODS JA 1964 T Trani, the GE alum then running Stanley Works, brought Loree in as
MAYBANK MA 394 T NH INVESTMENT & SECURITIES KO 1830 S
MAZDA MOTOR JA 739 T NIDEC JA 591 S chief financial oicer.
MCCORMICK US 1308 S NIELSEN US 1329 T
MCDONALD’S US 241 T NIKE US 344 T Trani was trying to turn around a troubled company whose $2.75 bil-
MCKESSON US 170 S NINE DRAGONS PAPER HK 1373 O
MEBUKI FINANCIAL JA 1398 T NINTENDO JA 660 S lion of revenue came mostly from hand tools like tape measures and build-
MEDIATEK TA 1001 T NIPPON EXPRESS JA 1416 T
MEDIOBANCA IT 934 S NIPPON PAINT JA 1795 T ers’ hardware like hinges. Recalls Loree: “It couldn’t ship efectively. It had
MEDIPAL JA 1389 T NIPPON PAPER INDUSTRIES JA 1915 T
MEDTRONIC IR 154 T NIPPON STEEL & SUMITOMO a weak supply chain. Almost all the things you could think of that could go
MEGA FINANCIAL TA 865 T METAL JA 304 S
MEIJI (FOOD, DRINK & TOBACCO) JA 1181 T NIPPON STEEL TRADING JA 1697 S wrong for the company were going wrong.”
MERCK GE 308 T NIPPON TELEGRAPH & TEL JA 46 T
MERCK & CO. US 191 T NIPPON YUSEN JA 1337 T Slowly, Stanley did turn itself around, and in 2002 began an acquisition
MERCURIES & ASSOCIATES TA 1504 S NISHI-NIPPON FINANCIAL JA 1571 S
MERITZ FINANCIAL KO 1392 S NISOURCE US 1825 T binge. Loree’s financial skills paid of. In 2009 chief executive John Lund-
MERLIN PROPERTIES SP 1486 S NISSAN MOTOR JA 97 T
METALLURGICAL CO OF CHINA CN 510 T NITORI JA 1310 T gren, urged on by Loree, engineered the acquisition of Black & Decker, a
METALURGICA GERDAU BR 1614 T NITTO DENKO JA 1147 S
METLIFE US 78 S NKT DE 1874 T century-old maker of power tools. Despite the fact that Black & Decker
METRO CA 1167 S NN NE 318 S
METRO GE 1041 O NOBLE ENERGY US 1416 T was larger (in employee count), Stanley was the top dog in the merger.
METROPOLITAN BANK & TRUST PH 1750 T NOBLE HK 1600 T
METTLER-TOLEDO INTL US 1885 T NOKIA FI 632 T Loree has worked on more than 100 acquisitions at Stanley, and since
MGM RESORTS US 576 S NOMURA JA 307 T
MICHAEL KORS UK 1864 T NOMURA RESEARCH INSTITUTE JA 1704 S taking over as CEO has spent $3 billion buying businesses. Recent deals
MICHELIN FR 405 T NORDEA BANK SW 199 T
MICROCHIP TECHNOLOGY US 1788 S NORDSTROM US 1370 T gave him Irwin drill bits and Lenox saw blades, bought from Newell, and IMAGINECHINA
MICRON TECHNOLOGY US 221 S NORFOLK SOUTHERN US 377 S
Craftsman, a venerable but tired brand bought from Sears.
S UP T DOWN
O UNCHANGED O NEW
ASIAN COMPANIES ARE IN RED TYPE
52 | FORBES ASIA JUNE 2018