Toyota tops R&D spending with ¥1.37 trillion, marking 16 consecutive years of growth, survey finds
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“Focus on the environment and energy” – nearly 80% of companies
According to a research and development (R&D) survey conducted by Nikkan Kogyo Shimbun (219 valid responses), the total planned R&D expenditures of 156 responding companies for fiscal 2025 will be 5.3% higher than the actual amount in fiscal 2024. This marks the 16th consecutive year of growth. Nearly 80% of companies reported focusing on R&D in the environment and energy sectors, underscoring the growing commitment toward a decarbonized society. Many companies are also promoting AI-driven R&D to improve operational efficiency.
In terms of company rankings, Toyota Motor Corporation led for the 24th consecutive year with ¥1.37 trillion in R&D spending. Honda ranked second, followed by Denso in third and Nissan in fourth, reflecting the auto industry’s dominance in top positions. Nissan attributed its increased spending to the development cycle of new models, aligned with the industry’s push for electrification and carbon neutrality (net-zero greenhouse gas emissions).
In fifth place was Daiichi Sankyo, with Otsuka Holdings in eighth and Astellas Pharma in ninth, highlighting the strong presence of pharmaceutical companies, which accounted for 30% of total R&D expenditures. Daiichi Sankyo noted that it had strengthened its R&D framework by increasing investment primarily in 5DXd ADCs, expanding medical affairs activities, and hiring more personnel. Other companies in the top 10 included Panasonic Holdings (6th), Canon (7th), and Mitsubishi Heavy Industries (10th).
When asked about priority research areas (multiple responses allowed), 77.6% of companies cited “environment and energy,” followed by “information and communications technology (ICT) and electronics” (62.9%), “robots and AI” (57.6%), and “nanotechnology and new materials” (55.1%).
On workforce challenges, 67% of companies said it is becoming more difficult to recruit R&D talent. Looking ahead, 30% plan to increase personnel, with 73% focusing on expanding mid-career hiring—16 points higher than those planning to expand new graduate hiring. Meanwhile, 40% reported introducing or considering job-based employment for technical positions, indicating continued struggles to secure skilled human resources.
Regarding digital transformation (DX) in R&D, 90% of companies said they are already working on it. Among them, 90% are utilizing AI, automation tools, and analytical software, 80% are trialing generative AI, and 70% are establishing data utilization infrastructure—highlighting the growing importance of generative AI and related digital ecosystems.
The R&D survey has been conducted annually since fiscal 1988. The fiscal 2025 edition marks its 38th iteration, carried out from early July to early August.
