FORTUNE 500 COMPANIES

1|Page
 Revenues
Profits
Rank Company ($ millions
($ millions)
)
1 Royal Dutch Shell 458,361 26,277
2 Exxon Mobil 442,851 45,220
3 Wal-Mart Stores 405,607 13,400
4 BP 367,053 21,157
5 Chevron 263,159 23,931
6 Total 234,674Profits
Revenues 15,500
Rank
7 Company
ConocoPhillips 230,764 -16,998
($ millions)($ millions)
8101 Nippon
ING GroupOil 64,198226,577
-2,505 -1,067
9102 Saint-Gobain
Sinopec 64,109 207,814
2,017 1,961
10 Toyota Motor
103 Johnson & Johnson 63,747204,352
12,949-4,349
11 Japan
104 EADS Post Holdings 63,326 198,700
2,301 4,208
12 GeneralOil
105 Indian Electric 62,993183,207
565 17,410
13 China National Petroleum
106 A.P. Møller-Mærsk Group 62,637 181,123
3,330 10,271
14 Volkswagen
107 HBOS 62,400166,579
-13,7516,957
15 State Grid
108 Morgan Stanley 62,262 164,136
1,707 664
16 Dexia Group
109 Hon Hai Precision Industry 61,861 161,269
1,749 -4,868
17 ENI
110 Groupe Caisse d'Épargne 61,551159,348
-2,949 12,917
18 General Motors
111 State Farm Insurance Cos. 61,343 148,979
-542 -30,860
19 Ford Motor
112 WellPoint 61,251146,277
2,491 -14,672
20 Allianz
113 Banco Bilbao Vizcaya Argentaria61,184 142,395
7,348 -3,577
21 HSBC Holdings
114 Mitsubishi 61,182142,049
3,682 5,728
22 Gazprom
115 Dell 61,101 141,455
2,478 29,864
23 Daimler
116 Boeing 60,909140,328
2,672 1,973
24 BNP
117 MicrosoftParibas 60,420 136,096
17,6814,422
25
118 PTTCarrefour 59,985 129,134
1,550 1,862
26
119 UBSE.ON 59,882127,278
-19,3011,853
27 PDVSA
120 BHP Billiton 59,473 126,364
15,3907,451
28 ArcelorMittal
121 Unilever 59,313124,936
7,358 9,399
29 AT&T
122 Walgreen 59,034 124,028
2,157 12,867
30 SiemensTechnologies
123 United 58,681123,595
4,689 8,595
31 Pemex
124 Tokyo Electric Power 58,605 119,235
-841 -10,056
32 Hewlett-Packard
125 China Construction Bank 57,977118,364
13,3248,329
33 Valero Energy
126 Groupe Auchan 57,792 118,298
1,064 -1,131
34
127 DowPetrobras
Chemical 57,514118,257
579 18,879
35 Banco Santander
128 Mitsubishi UFJ Financial Group 56,514 117,803
-2,558 12,992
36 Statoil Hydro
129 Seven & I Holdings 56,107 116,211
917 7,664
37 Bank of America Corp.
130 Renault 55,314113,106
836 4,008
38 Royal
131 Mitsui Bank of Scotland 55,098 113,087
1,768 -43,167
39 Citigroup
132 MetLife 55,085112,372
3,209 -27,684
40 Samsung Electronics
133 China Life Insurance 54,534 110,350
473 5,027
41
134 RioBerkshire Hathaway
Tinto Group 54,264107,786
3,676 4,994
42 McKesson
135 Veolia Environnement 53,901 106,632
593 823
43 Société Générale
136 Goldman Sachs Group 53,579104,378
2,322 2,942
44 Nippon Telegraph
137 Intesa Sanpaolo & Telephone 52,947 103,684
3,737 5,362
45 International
138 Bunge Business Machines 52,574 103,630
1,064 12,334
46 Crédit Agricole
139 Dai-ichi Mutual Life Insurance 52,012103,582 864 1,499
47 Assicurazioni
140 AEON Generali 51,945 103,103
-27 1,260
48 Nestlé
141 Sunoco 51,652101,565
776 16,670
49 J.P. Morgan Chase & Co. 101,491 5,605
50 Metro 101,217 590
2
51| P aHonda
ge Motor 99,652 1,364
52 Hitachi 99,544 -7,837
53 GDF Suez 99,419 7,109
54 Deutsche Post 98,708 -2,471
 Revenues Profits
Rank Company
($ millions)($ millions)
141 Wells Fargo 51,652 2,655
143 United Parcel Service 51,486 3,003
144 Caterpillar 51,324 3,557
145 Bank of China 51,317 9,260
146 Medco Health Solutions 51,258 1,103
147 LyondellBasell Industries 50,996 -7,321
148 Banco Bradesco 50,930 4,157
149 Itaúsa-Investimentos Itaú 50,216 1,473
150 Vinci 48,972 2,329
151 Deutsche Bahn 48,963 1,913
152 Pfizer 48,296 8,104
153 Lowe's 48,230 2,195
154 Bayer 48,182 2,516
155 Agricultural Bank of China 48,063 7,406
156 Bouygues 47,882 2,197
157 Nippon Steel 47,479 1,544
158 Rosneft Oil 46,985 11,120
159 Time Warner 46,984 -13,402
160 Sears Holdings 46,770 53
161 Fujitsu 46,714 -1,119
162 Landesbank Baden-Württemberg 46,137 -2,973
163 Volvo 46,057 1,508
164 Credit Suisse 45,296 -7,594
165 Rabobank 45,215 3,804
166 Telecom Italia 45,118 3,241
167 Best Buy 45,015 1,003
168 GlaxoSmithKline 44,654 8,439
169 Supervalu 44,564 -2,855
170 Sinochem 44,457 672
171 Roche Group 44,268 8,288
172 Koç Holding 44,168 1,552
173 Safeway 44,104 965
174 Banco do Brasil 43,984 4,802
175 PepsiCo 43,251 5,142
176 Foncière Euris 43,133 -152
177 Kraft Foods 42,867 2,901
178 Scottish & Southern Energy 42,855 189
179 Lockheed Martin 42,731 3,217
180 Woolworths 42,196 1,456
181 Sanofi-Aventis 42,179 5,637
182 NEC 41,962 -2,953
183 Novartis 41,459 8,195
184 Hess 41,094 2,360
185 China Southern Power Grid 41,083 560

3|Page
 Revenues Profits
Rank Company
($ millions)($ millions)
186 Sabic 40,203 5,873
187 Royal Ahold 40,117 1,572
188 Franz Haniel 40,001 146
189 Marubeni 39,839 1,107
190 Canon 39,611 2,991
191 Cisco Systems 39,540 8,052
192 KFW Bankengruppe 39,370 -3,889
193 Centrica 39,140 -266
194 JFE Holdings 38,903 1,933
195 Royal Philips Electronics 38,807 -272
196 CNP Assurances 38,482 1,069
197 Meiji Yasuda Life Insurance 38,082 1,239
198 Johnson Controls 38,062 979
199 POSCO 37,976 3,984
200 FedEx 37,953 1,125

Revenues Profits
Rank Company
($ millions)($ millions)
201 Walt Disney 37,843 4,427
202 Intel 37,586 5,292
203 Nippon Mining Holdings 37,533 -406
204 Sysco 37,522 1,106
205 CVRD 37,426 13,218
206 OMV Group 37,386 2,012
207 Vivendi 37,166 3,810
208 Iberdrola 36,879 4,187
209 SNCF 36,867 842
210 BT 36,626 -140
211 Royal Bank of Canada 36,616 4,440
212 Honeywell International 36,556 2,792
213 GS Holdings 36,503 102
214 TUI 36,496 -178
215 Mitsubishi Electric 36,483 121
216 Lufthansa Group 36,402 877
217 Sumitomo Life Insurance 36,308 1,038
218 Noble Group 36,090 577
219 Sprint Nextel 35,635 -2,796
220 Baosteel Group 35,517 2,314
221 Aviva 35,506 -1,678
222 Continental 35,478 -1,644
223 Enterprise GP Holdings 35,470 164
224 GMAC 35,445 1,868
225 Sumitomo Mitsui Financial Group 35,365 -3,717
226 Power Corp. of Canada 35,125 814
4|Page
 Revenues Profits
Rank Company
($ millions)($ millions)
227 GasTerra 35,059 53
228 Mizuho Financial Group 34,983 -5,861
229 Sumitomo 34,954 2,141
230 ABB 34,944 3,118
231 Tokio Marine Holdings 34,870 230
232 KDDI 34,814 2,217
233 Commerzbank 34,776 4
234 TNK-BP Holding 34,668 6,384
235 Ingram Micro 34,362 -395
236 Danske Bank Group 34,291 198
237 Comcast 34,256 2,547
238 Itochu 34,034 1,646
239 Northrop Grumman 33,940 -1,262
240 Air France-KLM Group 33,855 -1,149
241 ACS 33,825 2,642
242 China Railway Group 33,758 160
243 Mitsubishi Heavy Industries 33,602 241
244 Idemitsu Kosan 33,522 33
245 DZ Bank 33,485 -1,771
246 Cepsa 33,417 402
247 Australia & New Zealand Banking 33,396 3,003
248 Wolseley 33,084 148
249 PKN Orlen Group 33,043 -1,041
250 News Corp. 32,996 5,387
251 KBC Group 32,606 -3,636
252 China Railway Construction 32,538 524
253 Apple 32,479 4,834
254 George Weston 32,361 780
255 Zurich Financial Services 32,349 3,039
256 Lloyds Banking Group 32,196 1,502
257 CHS 32,168 803
258 Tata Steel 32,018 1,076
259 Coca-Cola 31,944 5,807
260 American Express 31,877 2,699
261 J. Sainsbury 31,876 487
262 DuPont 31,836 2,007
263 China Telecommunications 31,814 -51
264 Reliance Industries 31,792 3,320
265 L.M. Ericsson 31,688 1,710
266 Showa Shell Sekiyu 31,664 -157
267 Commonwealth Bank of Australia 31,654 4,287
268 AstraZeneca 31,601 6,101
269 New York Life Insurance 31,416 -950
270 Bridgestone 31,292 101

5|Page
 Revenues Profits
Rank Company
($ millions)($ millions)
271 Denso 31,282 -837
272 National Australia Bank 31,213 4,104
273 América Móvil 31,012 5,337
274 Aetna 30,951 1,384
275 Flextronics International 30,949 -6,086
276 Manulife Financial 30,948 485
277 PPR 30,663 1,353
278 CRH 30,572 1,827
279 BAE Systems 30,570 3,200
280 La Poste 30,487 774
281 Hutchison Whampoa 30,240 2,268
282 Motorola 30,146 -4,244
283 Westpac Banking 30,108 3,491
284 EnCana 30,064 5,944
285 Arcandor 30,063 -1,120
286 Plains All American Pipeline 30,061 437
287 Wesfarmers 30,050 940
288 Nordea Bank 30,019 3,910
289 Bharat Petroleum 29,989 138
290 Suzuki Motor 29,911 273
291 Cathay Life Insurance 29,852 -63
292 China State Construction Engineering29,807 350
293 Cosmo Oil 29,710 -920
294 Abbott Laboratories 29,528 4,881
295 Allstate 29,394 -1,679
296 TIAA-CREF 29,362 -3,345
297 General Dynamics 29,302 2,459
298 Prudential Financial 29,275 -1,073
299 Adecco 29,222 724
300 Wilmar International 29,145 1,531

Revenues Profits
Rank Company
($ millions)($ millions)
301 Alliance Boots 28,984 170
302 Mitsubishi Chemical Holdings 28,957 -669
303 Humana 28,946 647
304 Liberty Mutual Insurance Group 28,855 1,140
305 Korea Electric Power 28,712 -2,689
306 CPC 28,452 -3,824
307 Deere 28,438 2,053
308 HCA 28,374 673
309 Sharp 28,341 -1,252
310 Sberbank 28,309 3,929
311 Hindustan Petroleum 28,247 165
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 Revenues Profits
Rank Company
($ millions)($ millions)
312 Japan Tobacco 28,141 1,228
313 Tyson Foods 28,130 86
314 Alcoa 28,119 -74
315 Bayerische Landesbank 28,112 -7,441
316 Petroplus Holdings 28,048 -495
317 Tesoro 28,031 278
318 China National Offshore Oil 28,027 4,816
319 Hochtief 27,961 256
320 Xstrata 27,942 3,595
321 Delhaize Group 27,874 684
322 Lafarge 27,858 2,339
323 Formosa Petrochemical 27,769 482
324 Kansai Electric Power 27,768 -88
325 Suncor Energy 27,680 2,004
326 Murphy Oil 27,512 1,740
327 China Ocean Shipping 27,430 1,893
328 Schlumberger 27,163 5,435
329 East Japan Railway 26,846 1,864
330 Schneider Electric 26,802 2,462
331 China Minmetals 26,667 542
332 Softbank 26,608 430
333 National Grid 26,606 1,591
334 Alstom 26,461 1,566
335 COFCO 26,446 501
336 Anglo American 26,311 5,215
337 Rite Aid 26,290 -2,915
338 Christian Dior 26,248 1,165
339 Poste Italiane 26,129 1,292
340 Petro-Canada 26,054 2,939
341 China Communications Construction25,983 602
342 Quanta Computer 25,967 642
343 Bank of Nova Scotia 25,944 3,061
344 William Morrison Supermarkets 25,909 820
345 Philip Morris International 25,705 6,890
346 L'Oréal 25,676 2,852
347 Bertelsmann 25,647 208
348 Accenture 25,314 1,692
349 T&D Holdings 25,282 -887
350 Emerson Electric 25,281 2,412
351 3M 25,269 3,460
352 Mazda Motor 25,242 -712
353 Onex 25,207 -265
354 Toronto-Dominion Bank 25,070 3,736
355 Hyundai Heavy Industries 25,004 2,051

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 Revenues Profits
Rank Company
($ millions)($ millions)
356 Chubu Electric Power 24,984 -189
357 Vattenfall 24,957 2,593
358 Macy's 24,892 -4,803
359 Shanghai Automotive 24,882 53
360 Alcatel-Lucent 24,859 -7,633
361 International Paper 24,829 -1,282
362 Hanwha 24,782 266
363 State Bank of India 24,578 2,381
364 Mediceo Paltac Holdings 24,522 124
365 Occidental Petroleum 24,480 6,857
366 Travelers Cos. 24,477 2,924
367 Samsung Life Insurance 24,420 93
368 MAN Group 24,275 1,805
369 Fujifilm Holdings 24,232 105
370 CFE 24,196 -1,750
371 Nippon Yusen 24,188 559
372 Sinosteel 24,164 156
373 Publix Super Markets 24,110 1,090
374 Tech Data 24,080 124
375 Hebei Iron & Steel Group 24,034 130
376 Michelin 24,016 527
377 Energie Baden-Württemberg 23,866 1,276
378 Merck 23,850 7,808
379 Migros 23,795 648
380 China Metallurgical Group 23,767 414
381 AMR 23,766 -2,071
382 United States Steel 23,754 2,112
383 Evonik Industries 23,718 417
384 Magna International 23,704 71
385 China FAW Group 23,664 556
386 Nucor 23,663 1,831
387 Anheuser-Busch InBev 23,568 1,885
388 McDonald's 23,522 4,313
389 Standard Chartered Group 23,438 3,408
390 BG Group 23,396 5,734
391 Edeka Zentrale 23,349 385
392 Heraeus Holding 23,292 244
393 Holcim 23,247 1,647
394 Mapfre Group 23,186 1,318
395 Raytheon 23,174 1,672
396 Husky Energy 23,162 3,520
397 Staples 23,084 805
398 Swiss Reinsurance 23,082 -798
399 Finmeccanica 23,037 836

8|Page
 Revenues Profits
Rank Company
($ millions)($ millions)
400 Metalúrgica Gerdau 22,860 990

Revenues Profits
Rank Company
($ millions)($ millions)
401 Wyeth 22,834 4,418
402 Oil & Natural Gas 22,725 4,302
403 Delta Air Lines 22,697 -8,922
404 Cie Nationale à Portefeuille 22,656 -255
405 Fannie Mae 22,652 -58,707
406 Akzo Nobel 22,563 -1,590
407 Compass Group 22,522 872
408 Oracle 22,430 5,521
409 SeverStal 22,393 2,034
410 Telstra 22,371 3,304
411 Jardine Matheson 22,362 666
412 Fluor 22,326 720
413 Groupe Danone 22,277 1,922
414 Galp Energia 22,230 171
415 Citic Group 22,229 2,050
416 British American Tobacco 22,228 4,505
417 Aisin Seiki 22,043 -250
418 Express Scripts 22,023 776
419 China United Telecommunications 21,981 2,840
420 Surgutneftegas 21,976 5,785
421 Cemex 21,820 204
422 Coca-Cola Enterprises 21,807 -4,394
423 Google 21,796 4,227
424 Skanska 21,791 470
425 China Huaneng Group 21,781 -513
426 Aviation Industry Corp. of China 21,738 568
427 Northwestern Mutual 21,734 483
428 China South Industries Group 21,675 297
429 Kobe Steel 21,673 -313
430 Hypo Real Estate Holding 21,630 -7,993
431 Crédit Industriel & Commercial 21,582 249
432 Manpower 21,553 219
433 Tyco International 21,420 1,553
434 Royal KPN 21,373 1,950
435 Bristol-Myers Squibb 21,366 5,247
436 Asustek Computer 21,174 522
437 Sumitomo Electric Industries 21,122 172
438 Korea Gas 21,076 301
439 Groupama 21,057 400
440 HeidelbergCement 21,041 2,647
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 Revenues Profits
Rank Company
($ millions)($ millions)
441 S-Oil 21,020 406
442 Heineken Holding 21,005 154
443 Acciona 20,950 679
444 Jiangsu Shagang Group 20,897 484
445 Ricoh 20,821 65
446 Erste Group Bank 20,811 1,258
447 Grupo Ferrovial 20,705 -1,227
448 Henkel 20,683 1,787
449 Mol Hungarian Oil & Gas 20,644 821
450 Randstad Holding 20,548 27
451 Fomento de Construcciones 20,515 494
452 Maruhan 20,465 213
453 Delphi 20,383 3,037
454 Evraz Group 20,380 1,868
455 Eli Lilly 20,378 -2,072
456 Sodexo 20,377 563
457 EDP-Energias de Portugal 20,337 1,598
458 Mitsui Sumitomo Insurance Group Holdings20,306 82
459 UAL 20,194 -5,348
460 Komatsu 20,124 784
461 Imperial Tobacco Group 19,915 843
462 Marquard & Bahls 19,851 119
463 Nationwide 19,848 -342
464 Gas Natural SDG 19,824 1,547
465 Constellation Energy 19,818 -1,314
466 Israel Corp. 19,802 320
467 Caltex Australia 19,770 29
468 Bombardier 19,721 1,008
469 DirecTV Group 19,693 1,521
470 Mitsubishi Motors 19,645 -546
471 Doosan 19,494 98
472 Goodyear Tire & Rubber 19,488 -77
473 Eiffage 19,463 441
474 Japan Airlines 19,422 -629
475 Kimberly-Clark 19,415 1,690
476 Norddeutsche Landesbank 19,410 220
477 Skandinaviska Enskilda Banken 19,406 1,523
478 Kajima 19,396 -63
479 Bank of Montreal 19,365 1,928
480 AREVA 19,309 862
481 Neste Oil 19,299 142
482 Alfresa Holdings 19,260 55
483 U.S. Bancorp 19,229 2,946
484 L'Air Liquide 19,179 1,786

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 Revenues Profits
Rank Company
($ millions)($ millions)
485 Amazon.com 19,166 645
486 TJX 19,148 881
487 Cigna 19,101 292
488 Whirlpool 18,907 418
489 Exelon 18,859 2,737
490 Rexel 18,825 337
491 Shimizu 18,789 63
492 Premafin Finanziaria 18,766 10
493 Massachusetts Mutual Life Insurance 18,745 -924
494 Bank of Communications 18,677 4,085
495 Samsung C&T 18,635 314
496 Yamada Denki 18,632 330
497 Nike 18,627 1,883
498 Kirin Holdings 18,604 776
499 Aluminum Corp. of China 18,579 -744
500 Mitsui OSK Lines 18,572 1,264

TOP US COMPANIES
Countr Company Globa Revenues City
y l ($ millions)
Rank 500
rank
1 Exxon Mobil 2 442,851 Irving
2 Wal-Mart Stores 3 405,607 Bentonville
3 Chevron 5 263,159 San Ramon
4 ConocoPhillips 7 230,764 Houston
5 General Electric 12 183,207 Fairfield
6 General Motors 18 148,979 Detroit
7 Ford Motor 19 146,277 Dearborn
8 AT&T 29 124,028 Dallas
9 Hewlett-Packard 32 118,364 Palo Alto
10 Valero Energy 33 118,298 San
Antonio

EXXON MOBIL
Rank: 2 (Previous rank: 2)
CEO: Rex W. Tillerson
Employees: 104,700
Address: 5959 Las Colinas Blvd.
Irving, Texas  75039
Country: U.S.
Website: www.exxonmobil.com
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Impact on economy:
Despite rollercoaster oil prices -- ranging from more than $146 a barrel to around $45 a barrel --
Exxon pulled in $443 billion in revenues and $45 billion in earnings last year. Its investors
reaped some of the rewards, with $40 billion in shareholder distributions, up $4.4 billion from
2007. Exxon is investing heavily in the growing demand for liquefied natural gas, adding four
new gas liquefaction facilities in 2009 at a total price tag of more than $20 billion. Each facility
will produce 7.8 million tons of liquefied natural gas per year.
  $ millions % change from 2007
Revenues 442,851.0 18.8
Profits 45,220.0 11.4
Assets 228,052.0 —
Stockholders'
112,965.0 —
equity
Profits as %
 
of
Revenues 10.2
Assets 19.8
Industry: Petroleum Refining
Wal-Mart Stores
Rank: 3 (Previous rank: 1)
CEO: Michael T. Duke
Employees: 2,100,000
Address: 702 S.W. Eighth St.
Bentonville, Arkansas  72716
Country: U.S.
Website: www.walmartstores.com
Impact on economy:
Wal-Mart was the hottest stock in the Dow Jones industrial average in 2008 as cash-strapped
consumers around the world flocked to its stores for bargain groceries and toys. The Bentonville-
based retailer lost the title of world's biggest company in 2008. But think of its growth as former
CEO Lee Scott does: In 2008, Wal-Mart racked up $30 billion in additional sales -- the
equivalent of adding the annual sales of a Fortune 75 company.That growth was fueled by
double-digit sales increases at international stores (U.S. sales only grew 6%.) Wal-Mart China
alone added 28 stores over the year. Wal-Mart's 2009 prospects remain promising as shoppers
battered by the recession shop for value.
 
$ millions % change from 2007
Revenues 405,607.0 7.1
Profits 13,400.0 5.3
Assets 163,429.0 —
Stockholders'
65,285.0 —
equity

12 | P a g e
 Profits as %
 
of
Revenues 3.3
Assets 8.2
Industry: General Merchandisers
Chevron
Rank: 5 (Previous rank: 6)
CEO: David J. O'Reilly
Employees: 66,716
Address: 6001 Bollinger Canyon Rd.
San Ramon, California  94583
Country: U.S.
Website: www.chevron.com
Impact on economy:
The perennial No. 2 U.S. oil company -- behind Exxon -- boosted profits by 28% in 2008, more
than any other super major on this list. Sophisticated refineries helped Chevron blunt losses from
crude's price drop in the second half of the year. In previous years, Chevron has been able to
mask production declines at its oil fields with acquisitions, rising oil prices and its refining
business. But with production rates still lower than five years ago, Chevron is spending $23
billion this year to bolster overseas fields and expand refineries. That will take a while to pay off
if oil prices remain depressed. The upside of low oil prices for Chevron is that the giant can buy
small competitors on the cheap.
  $ millions % change from 2007
Revenues 263,159.0 24.8
Profits 23,931.0 28.1
Assets 161,165.0 —
Stockholders'
86,648.0 —
equity
Profits as %
 
of
Revenues 9.1
Assets 14.8
Industry: Petroleum Refining
ConocoPhillips
Rank: 7 (Previous rank: 10)
CEO: James J. Mulva
Employees: 33,800
Address: 600 N. Dairy Ashford Rd.
Houston, Texas  77079
Country: U.S.

13 | P a g e
Website: www.conocophillips.com
Impact on economy:
To describe his investment in ConocoPhillips last year, Warren Buffett used phrases like
"terrible timing" and "major mistake." The No. 3 U.S. oil company lost $17 billion in 2008 -- this
as oil reached its all-time high -- after a massive $35 billion write down in the fourth quarter. The
chief cause? Its $34 billion acquisition of natural gas producer Burlington Resources in 2006.
Conoco announced the deal just one day before the price of natural gas reached an all-time high
of $15.78 per million Btu. It now trades at a third that price. CEO Jim Mulva, who is cutting
exploration costs this year as oil demand remains weak, says Conoco is working to "live within
our means" until the economy recovers.
  $ millions % change from 2007
Revenues 230,764.0 29.2
Profits -16,998.0 -242.9
Assets 142,865.0 —
Stockholders'
55,165.0 —
equity
Profits as %
 
of
Revenues -7.4
Assets -11.9
Industry: Petroleum Refining
General Electric
Rank: 12 (Previous rank: 12)
CEO: Jeffrey R. Immelt
Employees: 323,000
Address: 3135 Easton Turnpike
Fairfield, Connecticut  06828
Country: U.S.
Website: www.ge.com
Impact on economy:
GE touted its diversified portfolio as one that could weather any economic storm. Last year
tested the conglomerate's claim and in the end, as Jeff Immelt acknowledged in his annual letter,
"GE stock got hammered" -- a 57% drop in 2008. Despite unfavorable returns, the company still
managed to take in $183 billion in sales, up almost 4% from 2007. By Immelt's count, the 130-
year-old business has survived nine recessions and one depression, so it's ready to refocus and
figure out how to buck up. On his list: reducing costs by $5 billion, primarily through layoffs and
spending cuts.
  $ millions % change from 2007
Revenues 183,207.0 3.7
Profits 17,410.0 -21.6
Assets 797,769.0 —
Stockholders'
104,665.0 —
equity

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 Profits as %
 
of
Revenues 9.5
Assets 2.2
Industry: Diversified Financials

OVERALL IMPACT ON ECONOMY

Although there are many small and medium-sized companies, big business units play a dominant
role in the American economy. There are several reasons for this. Large companies can supply
goods and services to a greater number of people, and they frequently operate more efficiently
than small ones. In addition, they often can sell their products at lower prices because of the
large volume and small costs per unit sold. They have an advantage in the marketplace because
many consumers are attracted to well-known brand names, which they believe guarantee a
certain level of quality. Large businesses are important to the overall economy because they tend
to have more financial resources than small firms to conduct research and develop new goods.
And they generally offer more varied job opportunities and greater job stability, higher wages,
and better health and retirement benefits. Nevertheless, Americans have viewed large companies
with some ambivalence, recognizing their important contribution to economic well-being but
worrying that they could become so powerful as to stifle new enterprises and deprive consumers
of choice. What's more, large corporations at times have shown themselves to be inflexible in
adapting to changing economic conditions. In the 1970s, for instance, U.S. auto-makers were
slow to recognize that rising gasoline prices were creating a demand for smaller, fuel-efficient
cars. As a result, they lost a sizable share of the domestic market to foreign manufacturers,
mainly from Japan. In the United States, most large businesses are organized as corporations. A
corporation is a specific legal form of business organization, chartered by one of the 50 states
and treated under the law like a person. Corporations may own property, sue or be sued in court,
and make contracts. Because a corporation has legal standing itself, its owners are partially
sheltered from responsibility for its actions. Owners of a corporation also have limited financial
liability; they are not responsible for corporate debts, for instance. If a shareholder paid $100 for
10 shares of stock in a corporation and the corporation goes bankrupt, he or she can lose the
$100 investment, but that is all. Because corporate stock is transferable, a corporation is not
damaged by the death or disinterest of a particular owner. The owner can sell his or her shares at
any time, or leave them to heirs. The corporate form has some disadvantages, though. As distinct
legal entities, corporations must pay taxes. The dividends they pay to shareholders, unlike
interest on bonds, are not tax-deductible business expenses. And when a corporation distributes
these dividends, the stockholders are taxed on the dividends. (Since the corporation already has
paid taxes on its earnings, critics say that taxing dividend payments to shareholders amounts to
"double taxation" of corporate profits.)

15 | P a g e
 TOP COMPANIES IN JAPAN
Countr Company Globa Revenues City
y l ($ millions)
Rank 500
rank
1 Toyota Motor 10 204,352 Toyota
2 Japan Post Holdings 11 198,700 Tokyo
3 Nippon Telegraph & Telephone 44 103,684 Tokyo
4 Honda Motor 51 99,652 Tokyo
5 Hitachi 52 99,544 Tokyo
6 Nissan Motor 67 83,982 Tokyo
7 Panasonic 79 77,298 Osaka
8 Sony 81 76,945 Tokyo
9 Nippon Life Insurance 96 66,621 Osaka
10 Toshiba 97 66,239 Tokyo

Toyota Motor
Rank: 10 (Previous rank: 5)
CEO: Akio Toyoda
Employees: 320,808
Address: 1 Toyota-cho
Toyota,   471-8571
Country: Japan
Website: www.toyota.co.jp

$ millions % change from 2007

Revenues 204,352.3 -11.2
Profits -4,349.3 -128.9
Assets 294,238.6 —
Stockholders'
101,864.7 —
equity
Profits as %
 
of
Revenues -2.1
Assets -1.5
Industry: Motor Vehicles and Parts
Japan Post Holdings
Rank: 11 (Previous rank: N.A.)
CEO: Yoshifumi Nishikawa
Employees: 233,400

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Address: 1-3-2 Kasumigaseki
Tokyo,   100-8798
Country: Japan
Website: www.japanpost.jp

  $ millions % change from 2007

Revenues 198,699.8 124.7
Profits 4,208.5 73.3
Assets 3,097,028.2 —
Stockholders'
88,639.2 —
equity
Profits as %
 
of
Revenues 2.1
Assets 0.1
Industry: Insurance: Life, Health (stock)
Nippon Telegraph & Telephone
Rank: 44 (Previous rank: 54)
CEO: Satoshi Miura
Employees: 196,300
Address: 2-3-1 Ohtemachi
Tokyo,   100-8116
Country: Japan
Website: www.ntt.co.jp

$ millions % change from 2007

Revenues 10.9
103,684.4
Profits -3.6
5,362.0
Assets —
190,304.0
Stockholders' equity —
73,889.7
Profits as %
 
of
Revenues 5.2
Assets 2.8
Industry: Telecommunications
Honda Motor
Rank: 51 (Previous rank: 40)

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CEO: Takeo Fukui
Employees: 181,876
Address: 2-1-1 Minami-Aoyama
Tokyo,   107-8556
Country: Japan
Website: www.honda.com
  $ millions % change from 2007
Revenues 99,652.4 -5.2
Profits 1,363.8 -74.0
Assets 119,660.6 —
Stockholders'
40,571.8 —
equity
Profits as %
 
of
Revenues 1.4
Assets 1.1
Industry: Motor Vehicles and Parts
Hitachi
Rank: 52 (Previous rank: 48)
CEO: Takashi Kawamura
Employees: 400,129
Address: 1-6-6 Marunouchi
Tokyo,   100-8280
Country: Japan
Website: www.hitachi.com
$
  % change from 2007
millions
Revenues 99,544.2 1.3
Profits -7,837.2 -
Assets 95,207.9 —
Stockholders'
10,630.2 —
equity
Profits as %
 
of
Revenues -7.9
Assets -8.2
Industry: Electronics, Electrical Equipment

OVERALL IMPACT ON ECONOMY

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Ending two consecutive years of record earnings, Toyota saw sales fall 11% and reported its first
operating loss since 1938. The Japanese exporter became so interested in wooing customers to its
lots that it followed other companies and unveiled its first interest-free financing program toward
the end of the year. To refocus, the company is now getting back to the basics. Its first step:
Recently letting Akio Toyoda, the grandson of founder Kiichiro Toyoda, take over as president.

Japan Post Holdings is making its list debut at No. 11 -- no small feat. But take a closer look and
you see that the impressive start is part of the Japanese government's orchestrated effort to
privatize its 136-year-old postal service. In 2007, the government split the state-run postal
service into four companies -- including a life insurer and bank (savings accounts are available at
post offices) -- under the umbrella of Japan Post Holdings. Promoted by former Prime Minister
Junichiro Koizumi, the goal is to modernize facilities, then spin them off by 2017. Until then, it
remains 100% owned by the Japanese government.

TOP COMPANIES IN CHINA

Countr Company Global Revenues City
y 500 ($ millions)
Rank rank
1 Sinopec 9 207,814 Beijing
2 China National Petroleum 13 181,123 Beijing
3 State Grid 15 164,136 Beijing
4 Industrial & Commercial Bank of 92 70,568 Beijing
China
5 China Mobile Communications 99 65,015 Beijing
6 China Construction Bank 125 57,977 Beijing
7 China Life Insurance 133 54,534 Beijing
8 Bank of China 145 51,317 Beijing
9 Agricultural Bank of China 155 48,063 Beijing
10 Sinochem 170 44,457 Beijing

Sinopec
Rank: 9 (Previous rank: 16)
CEO: Su Shulin
Employees: 639,690
Address: 22 Chaoyangmen N. St.
Beijing,   100728
Country: China
Website: www.sinopec.com
  $ millions % change from 2007
Revenues 207,814.5 30.5
Profits 1,961.2 -52.9

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Assets 153,135.2 —
Stockholders'
55,439.2 —
equity
Profits as % of  
Revenues 0.9
Assets 1.3

Industry: Petroleum Refining

China National Petroleum
Rank: 13 (Previous rank: 25)
CEO: Jiang Jiemin
Employees: 1,618,393
Address: 9 Dongzhimen N. St.
Beijing,   100007
Country: China
Website: www.cnpc.com.cn

  $ millions % change from 2007

Revenues 181,122.6 39.5
Profits 10,270.8 -31.2
Assets 264,463.3 —
Stockholders'
172,486.1 —
equity
Profits as % of  
Revenues 5.7
Assets 3.9

Industry: Petroleum Refining

State Grid
Rank: 15 (Previous rank: 24)
CEO: Liu Zhenya
Employees: 1,537,000
Address: 86 Xichang'an Ave.
Beijing,   100031
Country: China
Website: www.sgcc.com.cn

20 | P a g e
   $ millions % change from 2007
Revenues 164,135.9 23.5
Profits 664.5 -85.0
Assets 240,868.6 —
Stockholders'
84,595.1 —
equity

Profits as % of  
Revenues 0.4
Assets 0.3

Industry: Utilities
Industrial & Commercial Bank of China
Rank: 92 (Previous rank: 133)
CEO: Yang Kaisheng
Employees: 385,609
Address: 55 Fuxingmennei Ave.
Beijing,   100140
Country: China
Website: www.icbc.com.cn

  $ millions % change from 2007

Revenues 70,567.5 37.0
Profits 15,948.5 48.8
Assets 1,430,026.8 —
Stockholders' equity 88,329.3 —
Profits as % of  
Revenues 22.6
Assets 1.1

Industry: Banks: Commercial and Savings

China Mobile Communications
Rank: 99 (Previous rank: 148)
CEO: Wang Jianzhou
Employees: 221,328
Address: 29 Financial St.
Beijing,   100032
Country: China
Website: www.chinamobile.com
  $ millions % change from 2007
Revenues 65,015.1 38.2
Profits 11,442.0 35.8
Assets 129,214.5 —

21 | P a g e
Stockholders'
79,851.6 —
equity
Profits as % of  
Revenues 17.6
Assets 8.9

Industry: Telecommunications
OVERALL IMPACT ON ECONOMY
The China Petroleum & Chemical Corp., known as Sinopec, was hammered by high oil prices in
2008. Earnings fell by 53%. Sound odd? Sinopec is Asia's biggest refiner of oil, and supplies
80% of China's fuel. So a rise in oil prices makes it costlier for Sinopec to buy oil before
converting it to fuel. Expect that to change in 2009. Since the 1950s, Chinese government rules
have prevented Sinopec and other refiners from boosting the price of fuel when oil spikes in an
effort to combat inflation. New rules started Jan. 1 call for a market-based system to determine
pricing.
PetroChina's government-owned parent company boosted oil production to a record in 2008 to
keep up with the world's fastest growing major economy. That's after contending with the worst
snowstorm in half a century at its fields and an 8-magnitude earthquake. 2008 marked the
seventh straight year of increased crude output, even as China's GDP growth cooled to 9% from
13% in 2007. Publicly traded PetroChina shares have tanked with the drop in oil prices, but in
the beginning of 2008 the company led Exxon as the world's biggest company by market value.
China's biggest power company -- dogged by natural disasters, high coal prices, and a slowing
economy -- saw earnings fall by 80% in 2008. Its year was a tale of under-supply and
overcapacity. In the first half of 2008, state-owned China State Grid contended with a massive
earthquake and the worst winter snowstorms in 50 years. At the same time, the price of coal used
in its power plants spiked before the government ordered a cap. That led to rolling power
shortages in the country. Later in the year, just as State Grid received increased coal shipments,
growth in China's demand for power slowed for the first time since 1999. However the long-term
outlook remains rosy: China's power demand and supply is expected to double by 2020.

TOP COMPANIES IN RUSSIA

Countr Company Global Revenues City
y 500 ($ millions
Rank rank )
1 Gazprom 22 141,455 Moscow
2 Lukoil 65 86,340 Moscow
3 Rosneft Oil 158 46,985 Moscow
4 TNK-BP Holding 234 34,668 Moscow

22 | P a g e
 5 Sberbank 310 28,309 Moscow
6 SeverStal 409 22,393 Moscow
7 Surgutneftegas 420 21,976 Surgut
8 Evraz Group 454 20,380 Moscow

Gazprom
Rank: 22 (Previous rank: 47)
CEO: Alexei B. Miller
Employees: 456,000
Address: 16 Nametkina St.
Moscow,   117997
Country: Russia
Website: www.gazprom.com

$ millions % change from 2007

Revenues 141,454.7 51.3
Profits 29,864.1 16.1
Assets 234,765.6 —
Stockholders'
150,814.3 —
equity
Profits as % of  
Revenues 21.1
Assets 12.7

Industry: Energy
Lukoil
Rank: 65 (Previous rank: 90)
CEO: Vagit Y. Alekperov
Employees: 152,500
Address: 11 Sretensky Blvd.
Moscow,   101000
Country: Russia
Website: www.lukoil.com
  $ millions % change from 2007
Revenues 86,340.0 28.5
Profits 9,144.0 -3.9
Assets 71,461.0 —
Stockholders'
50,340.0 —
equity
Profits as % of  
Revenues 10.6
Assets 12.8

23 | P a g e
Industry: Petroleum Refining
Rosneft Oil
Rank: 158 (Previous rank: 203)
CEO: Sergei M. Bogdanchikov
Employees: 170,900
Address: 26/1 Sofiskaya Embankment 1
Moscow,   115035
Country: Russia
Website: www.rosneft.com

 
$ millions % change from 2007
Revenues 46,985.0 29.9
Profits 11,120.0 -13.5
Assets 77,513.0 —
Stockholders'
38,903.0 —
equity
Profits as % of  
Revenues 23.7
Assets 14.3

Industry: Petroleum Refining

TNK-BP Holding
Rank: 234 (Previous rank: N.A.)
CEO: Mikhail Fridman
Employees: 63,000
Address: 18/2 Schipok St.
Moscow,   
Country: Russia
Website: www.tnk-bp.ru

  $ millions % change from 2007

Revenues 34,668.0 25.1
Profits 6,384.0 11.4
Assets 31,179.0 —
Stockholders'
19,003.0 —
equity
Profits as % of  
Revenues 18.4
Assets 20.5

Industry: Petroleum Refining

24 | P a g e
Sberbank
Rank: 310 (Previous rank: 406)
CEO: Herman Gref
Employees: 259,999
Address: 19 Vavilova St.
Moscow,   117997
Country: Russia
Website: www.sbrf.ru

 
$ millions % change from 2007
Revenues 28,309.4 36.2
Profits 3,929.2 -5.6
Assets 220,615.1 —
Stockholders'
24,567.3 —
equity
Profits as % of  
Revenues 13.9
Assets 1.8

Industry: Banks: Commercial and Savings

OVERALL IMPACT ON ECONOMY
As the world's largest producer of natural gas, the Russian state-controlled energy giant saw its
share price tumble 75% when natural gas prices fell after five years of highs. The company
ended 2008 with about $50 billion in debt and recently said it plans to cut capital spending by
22% to $16 billion. But it's investing billions of dollars into new fields on the Yamal Peninsula
in an effort to tap unused, remote areas. Gazprom ended the year in a nasty dispute (again) with
Ukraine over natural gas bills that left many people in Europe literally shivering.

TOP COMPANIES IN AUSTRALIA

Countr Company Globa Revenues City
y l ($ millions)
Rank 500
rank
1 BHP Billiton 120 59,473 Melbourne

25 | P a g e
 2 Woolworths 180 42,196 Bella Vista
3 Australia & New Zealand Banking 247 33,396 Melbourne
4 Commonwealth Bank of Australia 267 31,654 Sydney
5 National Australia Bank 272 31,213 Melbourne
6 Westpac Banking 283 30,108 Sydney
7 Wesfarmers 287 30,050 Perth
8 Telstra 410 22,371 Melbourne
9 Caltex Australia 467 19,770 Sydney

BHP Billiton
Rank: 120 (Previous rank: 183)
CEO: Marius Kloppers
Employees: 41,732
Address: 180 Lonsdale St.
Melbourne,   3000
Country: Australia
Website: www.bhpbilliton.com

  $ millions % change from 2007

Revenues 59,473.0 50.6
Profits 15,390.0 14.7
Assets 75,889.0 —
Stockholders'
38,335.0 —
equity
Profits as % of  
Revenues 25.9
Assets 20.3

Industry: Mining, Crude-oil production

Woolworths
Rank: 180 (Previous rank: 228)
CEO: Michael Luscombe
Employees: 190,000
Address: 1 Woolworths Way
Bella Vista,   2153
Country: Australia
Website: www.woolworthslimited.com.au

26 | P a g e
   $ millions % change from 2007
Revenues 42,195.7 26.2
Profits 1,455.6 43.3
Assets 15,040.3 —
Stockholders'
5,751.1 —
equity
Profits as % of  
Revenues 3.4
Assets 9.7

Industry: Food and Drug Stores

Australia & New Zealand Banking
Rank: 247 (Previous rank: 326)
CEO: Michael Smith
Employees: 36,925
Address: 100 Queen St.
Melbourne,   3000
Country: Australia
Website: www.anz.com

  $ millions % change from 2007

Revenues 33,396.0 36.5
Profits 3,002.8 -11.0
Assets 371,539.0 —
Stockholders'
20,895.0 —
equity
Profits as % of  
Revenues 9.0
Assets 0.8

Industry: Banks: Commercial and Savings

Commonwealth Bank of Australia
Rank: 267 (Previous rank: 319)
CEO: Ralph J. Norris
Employees: 39,621
Address: 48 Martin Place
Sydney,   1155
Country: Australia
Website: www.commbank.com.au

  $ millions % change from 2007

27 | P a g e
Revenues 31,654.3 25.0
Profits 4,286.9 22.1
Assets 467,903.3 —
Stockholders'
24,585.5 —
equity
Profits as % of  
Revenues 13.5
Assets 0.9

Industry: Banks: Commercial and Savings

National Australia Bank
Rank: 272 (Previous rank: 211)
CEO: Cameron A. Clyne
Employees: 39,729
Address: 500 Bourke St.
Melbourne,   3000
Country: Australia
Website: www.nabgroup.com

  $ millions % change from 2007

Revenues 31,212.9 -11.9
Profits 4,103.8 11.0
Assets 518,076.5 —
Stockholders'
25,864.4 —
equity
Profits as % of  
Revenues 13.1
Assets 0.8

Industry: Banks: Commercial and Savings

OVERALL IMPACT ON ECONOMY
The distant, isolated continent of Australia may not spring to mind as a financial hub on the scale
of New York, London or Tokyo, but its rich home-grown resources are catching the eye of
international markets. Nowhere is this more obvious than in this year's Forbes 40 Australia, our
annual ranking of the country's 40 largest companies, which has seen the energy and mining
sector lifted by strong demand from booming foreign markets such as China. Australia has
abundant reserves of coal, base metals and petroleum, and in September, Chinese President Hu
Jintao signed a series of energy agreements designed to bring the two economies even closer
together. The commodity boom and consolidation in the mining sector have combined to make
BHP Billiton (nyse: BBL) Australia's largest company this year. The world's largest miner
delivered record profits and doubled its total market capitalization year-on-year to $220.9 billion,
incorporating both its London and Sydney listings.

28 | P a g e
BHP Billiton is currently chasing after Australia's fourth-largest company, rival miner Rio Tinto
(nyse: RIO). Although Rio Tinto has rebuffed its suitor's offer of three BHP shares per Rio share,
if the two companies combined they would have a total market cap of $350 billion, or five times
the size of Australia's second-largest company, National Australia Bank (nyse: NAB). The
financial sector has also done well out of thriving relations with Asia, with Macquarie Bank
breaking into the top 10 largest companies at No. 8, up from No. 13. The bank nearly doubled its
profits year-on-year, with international income accounting for over half of the total figure, and
said this month that Asian operations were weathering the subprime storm that is currently
battering financials in the West. Banks and insurers in Australia have also been reaping the
rewards of 15 years of uninterrupted economic growth, with a boom in property prices and
accommodative interest rates strengthening investment and consumer confidence. AMP, QBE
Insurance, Suncorp-Metway and Stockland are just a few of the financial names that have risen
in the rankings since last year.

TOP COMPANIES IN INDIA

Countr Company Global Revenues City
y 500 ($ millions
Rank rank )
1 Indian Oil 105 62,993 New Delhi
2 Tata Steel 258 32,018 Mumbai
3 Reliance Industries 264 31,792 Mumbai
4 Bharat Petroleum 289 29,989 Mumbai
5 Hindustan Petroleum 311 28,247 Mumbai
6 State Bank of India 363 24,578 Mumbai
7 Oil & Natural Gas 402 22,725 Dehradun

Indian Oil
Rank: 105 (Previous rank: 116)
CEO: Sarthak Behuria
Employees: 35,896
Address: 3079/3 Sadiq Nagar
New Delhi,   110049
Country: India
Website: www.iocl.com

  $ millions % change from 2007

Revenues 62,993.2 9.7

29 | P a g e
Profits 564.9 -71.2
Assets 20,659.9 —
Stockholders'
8,969.0 —
equity
Profits as % of  
Revenues 0.9
Assets 2.7

Industry: Petroleum Refining

Tata Steel
Rank: 258 (Previous rank: 315)
CEO: B. Muthuraman
Employees: 84,000
Address: 24 Homi Mody St.
Mumbai ,   400001
Country: India
Website: www.tatasteel.com

  $ millions % change from 2007

Revenues 32,018.0 -2.4
Profits 1,075.9 -64.9
Assets 23,968.8 —
Stockholders'
5,462.5 —
equity
Profits as % of  
Revenues 3.4
Assets 4.5

Industry: Metals
Reliance Industries
Rank: 264 (Previous rank: 206)
CEO: Mukesh D. Ambani
Employees: 22,424
Address: 222 Nariman Point
Mumbai,   400021
Country: India
Website: www.ril.com

  $ millions % change from 2007

Revenues 31,792.3 -11.5
Profits 3,320.5 -31.5

30 | P a g e
Assets 41,306.7 —
Stockholders'
24,202.7 —
equity
Profits as % of  
Revenues 10.4
Assets 8.0

Industry: Petroleum Refining

Bharat Petroleum
Rank: 289 (Previous rank: 287)
CEO: Ashok Sinha
Employees: 14,797
Address: 4 & 6 Currimbhoy Rd.
Mumbai,   400001
Country: India
Website: www.bharatpetroleum.in

  $ millions % change from 2007

Revenues 29,989.0 7.6
Profits 137.7 -68.7
Assets 10,658.0 —
Stockholders'
2,623.7 —
equity
Profits as % of  
Revenues 0.5
Assets 1.3

Industry: Petroleum Refining

State Bank of India
Rank: 363 (Previous rank: 380)
CEO: O.P. Bhatt
Employees: 205,896
Address: Madame Cama Rd.
Mumbai,   400021
Country: India
Website: www.statebankofindia.com

  $ millions % change from 2007

Revenues 24,577.7 9.7
Profits 2,380.8 7.0
Assets 257,183.8 —

31 | P a g e
Stockholders'
14,268.3 —
equity
Profits as % of  
Revenues 9.7
Assets 0.9

Industry: Banks: Commercial and Savings

OVERALL IMPACT ON ECONOMY
India, since the past few years, has experienced a paradigm shift due to its competitive stand in
the business world. Being a huge market itself, as well as the home to cheap and skilled labors in
abundance, India became the favorite hunting ground for the companies to explore the market
and grow their business. The presence of a number of top companies in India only seconds the
thought that the country's market has got enormous potential. The economy of the country, with
robust growth trajectory and stable annual growth rate, also helps the top Indian companies,
along with the smaller operators, to grow at a better pace. Foreign exchange reserves and the
thriving capital markets are also the other factors that the top companies in India make use of.
IT, in terms of production and exports, is still the fastest growing segment in India. Due to easy
availability of highly skilled professionals, India has been one of the major hubs of software
developments across the world. The total software exports from the country reached US$ 47
billion in FY2009. There are a number of top IT companies running their operations in India.
Many of those are from the country, while the others are multinational companies having their
operations in various countries across the world

BPO or Business Process Outsourcing is one of the biggest sectors in Indian business. It is also
one of the fastest growing sectors in Indian economy. According to the prediction of the World
Bank and Goldman Sachs, India, by the year 2020, is going to attract almost 80% of the BPO
industry in the world. Due to its huge market potential, India has attracted a number of top
multinational companies.

Though the majority of the multinational companies operating in the country are from the U.S.,
however, a growing number of MNCs from other parts of the world are also coming to India.
India has a strong pharmaceutical market, which results in the existence of a number of top
bracket pharma companies. Despite the great recession, the sales in the Indian pharma industry
went up by 18.4% in March 2009. According to the recent McKinsey report (November 30,
2009), the industry will touch $40 billion mark by 2015.

Due to its huge market potential, India has attracted a number of top multinational companies.
Though the majority of the multinational companies operating in the country are from the U.S.,
however, a growing number of MNCs from other parts of the world are also coming to India.

32 | P a g e
India has a strong pharmaceutical market, which results in the existence of a number of top
bracket pharma companies. Despite the great recession, the sales in the Indian pharma industry
went up by 18.4% in March 2009. According to the recent McKinsey report (November 30,
2009), the industry will touch $40 billion mark by 2015.

TOP COMPANIES IN KOREA

Countr Company Global Revenues City
y 500 ($ millions)
Rank rank
1 Samsung Electronics 40 110,350 Seoul
2 LG 69 82,082 Seoul
3 SK Holdings 72 80,810 Seoul
4 Hyundai Motor 87 72,542 Seoul
5 POSCO 199 37,976 Pohang
6 GS Holdings 213 36,503 Seoul
7 Korea Electric Power 305 28,712 Seoul
8 Hyundai Heavy 355 25,004 Ulsan
Industries
9 Hanwha 362 24,782 Seoul
10 Samsung Life Insurance 367 24,420 Seoul
11 Korea Gas 438 21,076 Seongnam
12 S-Oil 441 21,020 Seoul
13 Doosan 471 19,494 Seoul
14 Samsung C&T 495 18,635 Seou

Samsung Electronics
Rank: 40 (Previous rank: 38)
CEO: Yoon-Woo Lee
Employees: 164,600
Address: 1320-10 Seocho 2-dong
Seoul,   137-857
Country: South Korea
Website: www.samsung.com
  $ millions % change from 2007
Revenues 110,350.0 4.1
Profits 5,027.3 -37.0
Assets 83,601.3 —
Stockholders'
46,140.8 —
equity

33 | P a g e
Profits as % of  
Revenues 4.6
Assets 6.0

Industry: Electronics, Electrical Equipment

LG
Rank: 69 (Previous rank: 67)
CEO: Bon Moo Koo / Yu-Sig Kang
Employees: 177,000
Address: 20 Yoido-dong, Youngdungpo-gu
Seoul,   150-721
Country: South Korea
Website: www.lg.net

  $ millions % change from 2007

Revenues 82,081.8 0.0
Profits 829.8 -16.4
Assets 51,432.5 —
Stockholders'
4,947.5 —
equity
Profits as % of  
Revenues 1.0
Assets 1.6

Industry: Electronics, Electrical Equipment

SK Holdings
Rank: 72 (Previous rank: 86)
CEO: Tae Won Chey / Young-Ho Park
Employees: 24,474
Address: 99 Seorin-dong, Jongro-gu
Seoul,   110-110
Country: South Korea
Website: www.sk.com

  $ millions % change from 2007

Revenues 80,810.4 14.3
Profits 259.3 -82.8

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Assets 55,499.0 —
Stockholders'
5,372.9 —
equity
Profits as % of  
Revenues 0.3
Assets 0.5

Industry: Petroleum Refining

Hyundai Motor
Rank: 87 (Previous rank: 82)
CEO: Mong-Koo Chung
Employees: 110,704
Address: 231 Yangjae-dong, Seocho-gu
Seoul,   137-938
Country: South Korea
Website: worldwide.hyundai.com

  $ millions % change from 2007

Revenues 72,541.8 -3.1
Profits 780.4 -54.7
Assets 81,938.2 —
Stockholders'
15,140.1 —
equity
Profits as % of  
Revenues 1.1
Assets 1.0

Industry: Motor Vehicles and Parts

POSCO
Rank: 199 (Previous rank: 224)
CEO: Joon-Yang Chung
Employees: 34,942
Address: 1 Goedong Namgu
Pohang,   790-785
Country: South Korea
Website: www.posco.com

  $ millions % change from 2007

Revenues 37,976.2 11.6
Profits 3,983.7 4.0
Assets 37,284.0 —

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Stockholders'
21,963.0 —
equity
Profits as % of  
Revenues 10.5
Assets 10.7

Industry: Metals
OVERALL IMPACT ON ECONOMY
The Evolution of Large Corporations in Korea was written to show why all current government
intervention into the market, specifically that which affects the functioning of Korea's chaebol, or
large corporations, must cease. As stated in the introductory chapter, "the role of the [Korean]
government should be limited to defining the external economic and social environments, and
should be confined to preserving the spontaneity and endogeneity of the market order." The text,
thus, continues the neoliberal-developmental state debate of the World Bank, Alice Amsden, and
other scholars of East Asian political economy.

Author Sung-Hee Jwa focuses upon the chaebol for several reasons. First, the chaebol fit nicely
into the "agent-organization-institutions" framework, which adheres to the tenets of new
institutional economics. Such a framework attempts to show how government intervention into
the market skews patterns of competition and disrupts the incentive structure. Such disturbances
have greatly affected the chaebol, exemplified in the text with a pointed look at the failings of
Samsung Motor Company.

A second reason, however, that Jwa writes so fervently in favor of liberalization of the Korean
market can be inferred through his affiliation with a self-stated neoliberal research institute, the
Korea Economic Research Institute (KERI). Funded by the Federation of Korean Industries, it is
in KERI's (and Jwa's) interest to produce research that supplements the existing Korea-related
neoliberal literature. Note that key sources throughout the discussion, Inhak Hwang and Byoung
Ki Lee, are similarly affiliated with KERI, hinting at a biased selection of evidence.

Throughout the text, Jwa examines the interaction between the government's industrial policies
and the chaebol's responses and shows that the chaebol have relied upon a 30-year policy pattern
of entry barriers, support, and exit barriers. Jwa acknowledges that the study does not consider
the effects of non-economic institutions upon the relationship. For the sake of parsimony and
"positive" economics, therefore, cultural and political institutions have been excluded from the
analysis.

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 TOP COMPANIES IN ITALY
Countr Company Global Revenues City
y 500 ($ millions
Rank rank )
1 ENI 17 159,348 Rome
2 Assicurazioni Generali 47 103,103 Trieste
3 UniCredit Group 58 94,036 Milan
4 Enel 62 90,005 Rome
5 Fiat 64 86,914 Turin
6 Intesa Sanpaolo 137 52,947 Turin
7 Telecom Italia 166 45,118 Milan
8 Poste Italiane 339 26,129 Rome
9 Finmeccanica 399 23,037 Rome
10 Premafin Finanziaria 492 18,766 Milan

ENI
Rank: 17 (Previous rank: 27)
CEO: Paolo Scaroni
Employees: 78,880
Address: Piazzale E. Mattei 1
Rome,   144
Country: Italy
Website: www.eni.it

  $ millions % change from 2007

Revenues 159,348.5 32.2
Profits 12,917.0 -5.7
Assets 162,060.1 —
Stockholders'
61,766.0 —
equity
Profits as % of  
Revenues 8.1
Assets 8.0

Industry: Petroleum Refining

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Assicurazioni Generali
Rank: 47 (Previous rank: 34)
CEO: Sergio Balbinot / Giovanni Perissinotto
Employees: 84,063
Address: Piazza Duca degli Abruzzi 2
Trieste,   34132
Country: Italy
Website: www.generali.com

  $ millions % change from 2007

Revenues 103,103.0 -9.4
Profits 1,260.1 -68.4
Assets 533,674.4 —
Stockholders'
15,724.8 —
equity
Profits as % of  
Revenues 1.2
Assets 0.2

Industry: Insurance: Life, Health (stock)

UniCredit Group
Rank: 58 (Previous rank: 77)
CEO: Alessandro Profumo
Employees: 174,519
Address: Piazza Cordusio
Milan,   20123
Country: Italy
Website: www.unicreditgroup.eu

  $ millions % change from 2007

Revenues 94,036.0 22.1
Profits 5,872.0 -28.0
Assets 1,453,678.1 —
Stockholders'
76,448.2 —
equity
Profits as % of  
Revenues 6.2
Assets 0.4

Industry: Banks: Commercial and Savings

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Enel
Rank: 62 (Previous rank: 109)
CEO: Fulvio Conti
Employees: 75,981
Address: Viale Regina Margherita 137
Rome,   198
Country: Italy
Website: www.enel.it

  $ millions % change from 2007

Revenues 90,004.9 50.6
Profits 7,747.3 42.3
Assets 185,157.7 —
Stockholders'
28,353.2 —
equity
Profits as % of  
Revenues 8.6
Assets 4.2

Industry: Utilities
Fiat
Rank: 64 (Previous rank: 71)
CEO: Sergio Marchionne
Employees: 193,348
Address: 250 Via Nizza
Turin,   10126
Country: Italy
Website: www.fiatgroup.com

  $ millions % change from 2007

Revenues 86,913.6 8.5
Profits 2,359.5 -11.7
Assets 85,863.1 —
Stockholders'
14,392.1 —
equity
Profits as % of  
Revenues 2.7
Assets 2.7

Industry: Motor Vehicles and Parts

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OVERALL IMPACT ON ECONOMY

Italy's biggest oil company relied on its newer fields in the Gulf of Mexico and the Congo to
counter losses from vicious militant attacks at its Nigerian operations. ENI's earnings for the
year, down by 6%, reflect the company's heavy reliance on crude prices. In the fourth quarter it
reported its first quarterly loss in seven years after crude fell 69% from its high in July. The
company received good news for this year: Its 20% stake in Russia's troubled giant Gazprom
was bought out by the natural gas monopoly, relieving investors who worried that ENI might
have to cut its dividend to conserve cash amid the downturn.

The country also is home to 6 of the world's 100 biggest companies. According to the World
Bank, Italy has high levels of freedom for investments, business and trade. Italy has the world's
6th (7th including the European Union) highest exports , that of US$ 546,900,000,000 (est.) in
2008. Italy, also, is the world's fifth largest industrial goods producer with a US$381 billion
output in 2008. Despite Italy's concentration on the secondary and tertiary economic sectors, the
nation is also an important agricultural (primary) exporter, being the biggest producer of
kiwifruits (415,050 tonnes), grape (8,519,418 tonnes) and artichoke (469,980 tonnes) producer
worldwide. On addition to this, the country exports and produces the highest level of wine [10][11],
exporting over 1,793 tonnes.

Italy was responsible for producing approximately one-fifth of world wine production in 2005.
On addition to that, Italy has the world's 4th (3rd excluding the IMF) largest gold reserves, that
of 2,451.8 tonnes, coming after the USA and Germany, and surpassing France and China. Italy
has also been classified, according to a study as being the 11th greatest national power in the
world, coming after France and the United Kingdom, and surpassing Indonesia and Ukraine.

Tourism is one of the fastest growing and most profitable sectors of the national economy: with
43.7 million international tourist arrivals and total revenues estimated at $42.7 billion, Italy is the
fifth major tourist destination and the fourth highest tourist earner in the world.

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 TOP COMPANIES IN GERMANY
Countr Company Global Revenues City
y 500 ($ millions)
Rank rank
1 Volkswagen 14 166,579 Wolfsburg
2 Allianz 20 142,395 Munich
3 Daimler 23 140,328 Stuttgart
4 E.ON 26 127,278 Düsseldorf
5 Siemens 30 123,595 Munich
6 Metro 50 101,217 Düsseldorf
7 Deutsche Post 54 98,708 Bonn
8 BASF 59 91,193 Ludwigshafen
9 Deutsche Telekom 61 90,260 Bonn
10 Deutsche Bank 70 81,360 Frankfurt

Volkswagen
Rank: 14 (Previous rank: 18)
CEO: Martin Winterkorn
Employees: 369,928
Address: Brieffach 1848-2
Wolfsburg,   38436
Country: Germany
Website: www.volkswagenag.com
  $ millions % change from 2007
Revenues 166,579.1 11.8
Profits 6,956.9 23.4
Assets 233,407.4 —
Stockholders'
48,665.3 —
equity
Profits as % of  
Revenues 4.2
Assets 3.0

Industry: Motor Vehicles and Parts

Allianz
Rank: 20 (Previous rank: 22)
CEO: Michael Diekmann

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Employees: 182,865
Address: Königinstrasse 28
Munich,   80802
Country: Germany
Website: www.allianz.com
  $ millions % change from 2007
Revenues 142,394.6 1.3
Profits -3,577.2 -132.8
Assets 1,328,250.6 —
Stockholders'
46,820.8 —
equity
Profits as % of  
Revenues -2.5
Assets -0.3

Industry: Insurance: Property and Casualty (stock)

Daimler
Rank: 23 (Previous rank: 11)
CEO: Dieter Zetsche
Employees: 273,216
Address: Mercedesstrasse 137
Stuttgart,   70546
Country: Germany
Website: www.daimler.com
  $ millions % change from 2007
Revenues 140,327.9 -20.8
Profits 1,973.0 -63.8
Assets 183,784.4 —
Stockholders'
43,390.2 —
equity
Profits as % of  
Revenues 1.4
Assets 1.1

Industry: Motor Vehicles and Parts

E.ON
Rank: 26 (Previous rank: 52)
CEO: Wulf H. Bernotat
Employees: 93,538
Address: E.ON Platz 1

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Düsseldorf,   40479
Country: Germany
Website: www.eon.com

  $ millions % change from 2007

Revenues 127,277.7 34.9
Profits 1,853.0 -81.2
Assets 218,292.6 —
Stockholders'
47,909.1 —
equity
Profits as % of  
Revenues 1.5
Assets 0.8

Industry: Energy
Siemens
Rank: 30 (Previous rank: 37)
CEO: Peter Löscher
Employees: 420,800
Address: Wittelsbacherplatz 2
Munich,   80333
Country: Germany
Website: www.siemens.com

  $ millions % change from 2007

Revenues 123,595.4 2.8
Profits 8,595.1 69.8
Assets 132,682.7 —
Stockholders'
37,606.8 —
equity
Profits as % of  
Revenues 7.0
Assets 6.5

Industry: Electronics, Electrical Equipment

OVERALL IMPACT ON ECONOMY
While U.S. car companies floundered, Europe's largest automaker was able to eek out growth of
about 1%, delivering 6.3 million vehicles to customers worldwide. Profits rose 23% to almost $7
billion, thanks in part to the strong sales of VW's Audi brand, which delivered more than 1
million cars to the market for a sales increase of 4% from 2007. The new Q5 small sport-utility

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vehicle and A4 series contributed to Audi's solid performance. The third-largest automaker now
looks to increase its market share in the U.S. as American car companies try to stay afloat.

The international insurer with approximately 75 million customers endured a tough year as its
industry came under fire. The Munich-based company saw its stock tumble 49% to $105 a share
by year's end. To help boost its balance sheet, Allianz unloaded its largest money-drainer,
Dresdner Bank, selling it to Commerzbank for about $6.8 billion. At least the company can look
forward to one thing -- a payment from Hartford Financial Services Group. Allianz infused $2.5
billion in Hartford in the fall to help the ailing insurer and will receive some of its money back
once Hartford sells up to $750 million in stock.

Evidenced by the bankruptcies of General Motors and Chrysler, 2008 was a painful year to be
selling cars. Daimler's earnings fell by 64% as sales plunged in Europe and the U.S. -- a key
market for Daimler's Mercedes-Benz division. Its focus on higher-priced cars -- Daimler is the
world's No. 2 luxury carmaker behind BMW -- didn't make things easier during the recession.
CEO Dieter Zetsche this year detailed plans to save billions by cutting production and using the
same parts across many of its cars. But as the global recession drags on, analysts are not asking if
Daimler will lose money this year, but how much.

TOP COMPANIES IN BRITAIN

Countr Company Global Revenues City
y 500 ($ millions
Rank rank )
1 BP 4 367,053 London
2 HSBC Holdings 21 142,049 London
3 Royal Bank of Scotland 38 113,087 Edinburgh
4 Tesco 56 94,300 Cheshunt
5 Barclays 83 75,136 London
6 Vodafone 94 69,138 Newbury
7 HBOS 107 62,400 Edinburgh
8 Rio Tinto Group 134 54,264 London
9 GlaxoSmithKline 168 44,654 Brentford
10 Scottish & Southern Energy 178 42,855 Perth

BP
Rank: 4 (Previous rank: 4)
CEO: Anthony B. Hayward
Employees: 92,000
Address: 1 St. James Sq.
London,   SW1Y 4PD
Country: Britain

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Website: www.bp.com

  $ millions % change from 2007

Revenues 367,053.0 25.9
Profits 21,157.0 1.5
Assets 228,238.0 —
Stockholders'
91,303.0 —
equity
Profits as % of  
Revenues 5.8
Assets 9.3

Industry: Petroleum Refining

HSBC Holdings
Rank: 21 (Previous rank: 20)
CEO: Michael F. Geoghegan
Employees: 331,458
Address: 8 Canada Sq.
London,   E14 5HQ
Country: Britain
Website: www.hsbc.com

  $ millions % change from 2007

Revenues 142,049.0 -3.0
Profits 5,728.0 -70.1
Assets 2,527,465.0 —
Stockholders'
93,591.0 —
equity
Profits as % of  
Revenues 4.0
Assets 0.2

Industry: Banks: Commercial and Savings

Royal Bank of Scotland
Rank: 38 (Previous rank: 36)
CEO: Stephen Hester
Employees: 199,500
Address: Gogarburn
Edinburgh,   EH12 1HQ
Country: Britain
Website: www.rbs.com

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   $ millions % change from 2007
Revenues 113,087.4 4.3
Profits -43,166.9 -385.8
Assets 3,452,975.2 —
Stockholders'
84,653.3 —
equity
Profits as % of  
Revenues -38.2
Assets -1.3

Industry: Banks: Commercial and Savings

Tesco
Rank: 56 (Previous rank: 51)
CEO: Terry P. Leahy
Employees: 364,015
Address: Delamare Rd.
Cheshunt,   EN8 9SL
Country: Britain
Website: www.tesco.com

  $ millions % change from 2007

Revenues 94,300.4 -0.4
Profits 3,751.0 -11.8
Assets 65,641.2 —
Stockholders'
18,441.0 —
equity
Profits as % of  
Revenues 4.0
Assets 5.7

Industry: Food and Drug Stores

Barclays
Rank: 83 (Previous rank: 70)
CEO: John S. Varley
Employees: 151,500
Address: 1 Churchill Place
London,   E14 5HP
Country: Britain
Website: group.barclays.com

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   $ millions % change from 2007
Revenues 75,135.5 -6.5
Profits 8,035.2 -9.1
Assets 2,951,672.0 —
Stockholders'
52,647.5 —
equity
Profits as % of  
Revenues 10.7
Assets 0.3

Industry: Banks: Commercial and Savings

OVERALL IMPACT ON ECONOMY

After a stellar start to last year -- profits for BP's first and second quarters combined for an
impressive $17 billion -- the London-based oil company was hit hard, like others in the industry,
by tumbling oil prices, causing a fourth quarter loss of $3.3 billion. But BP forged ahead,
unveiling a new platform called Thunder Horse in the Gulf of Mexico that cranked out 200,000
barrels of oil equivalent per day, helping the company earn the title of largest producer in the
Gulf. As CEO Tony Hayward declared in the annual report, "BP is back."

Subprime was the story at Europe's biggest bank in 2008. More to the point, U.S. subprime.
HSBC earnings fell by 70% during the year as $15.5 billion in losses at its North American
operations doomed the bank. Most of the losses came from its ill-timed acquisition of Illinois-
based subprime lender Household International in 2003. Still, the bank's diversification into
emerging markets (where it earns about three fourths of profits) has paid off. HSBC turned a
worldwide profit of nearly $6 billion in 2008 as Hong Kong and European operations bailed out
U.S. operations. But as HSBC closes retail locations in the U.S. to stop the bloodletting, analysts
now worry that slowing Asian economies will be this year's story for HSBC.

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