Toyota has come out on top as Japan’s most valuable global brand for the eighth year in a row according to a list compiled by US consultancy Interbrand.

Interbrand released its 2016 ranking of the best global brands in Japan based on factors such as their impact on consumers and the operating companies’ earnings. In order to be eligible, the brand must be based in Japan and achieve at least 30% of its sales abroad.

Interbrand valued Toyota was valued at US$49bn, 16% more than the year before, thanks to strong earnings. Honda was second in the list with a 6% gain to US$22.97bn.

Fuji Heavy Industries brand Subaru, in twelfth place, saw the biggest jump in value of 39% to US$2.77bn. Thirteenth placed Mazda enjoyed a 36% boost to US$1.89bn.

Automotive brands took 11 of the top 40 spots.

“Brands that developed the strengths of Japanese-style management and applied it abroad are growing,” Yukihiro Wada, head of Interbrand’s Japan unit told Nikkei.

Toyota was sixth worldwide on Interbrand’s 2015 Best Global Brands list released last October.