TOKYO: Toyota, the auto manufacturer, is Japan's most valuable brand, and is worth $31.6 billion (€25.0bn; £22.4bn), according to a list of the country's top global brands, as compiled by Interbrand.

Despite recently announcing it would be cutting production by 12% this year, and warning it will make a net loss for the first time in nearly six decades, Toyota took the top spot, although its overall valuation fell by 7% year-on-year.

Its fellow auto marque Honda followed in second place, with an estimated net worth of $17.67 billion, also down by 7%, followed by Sony, which was valued at $, a total that has declined 4%.

Canon, which saw its value fall 4% to $10.4bn, and Nintendo made up the top five, with the latter being one of the few brands in the list to see its overall value rise, up 5% to $9.1bn.

Auto makers Lexus and Nissan, and electronics firms Panasonic, Sharp and Toshiba made up the top ten.

Interbrand's study assessed firms listed on the Tokyo Stock Exchange, were founded in Japan, generate 30% of their revenues outside the country, and enjoy high levels of public awareness.

While the downturn has had a dramatic impact on many Japanese companies' share prices, Interbrand's Hiromitsu Hatakeyama argues that even though consumers are cutting back, their "trust in a brand does not suddenly decline by half or more."

Data sourced from The Edge; additional content by WARC staff