(FORTUNE Magazine) – The United States still has the most companies -- 139 -- on the Global Service 500. But that is 11 fewer than last year. Japan increased its share from 106 to 113. Britain (43), which lost six companies, was displaced by Germany (44) in the third spot. France (31) lost two companies but maintained fifth place. South Korea (3) and Brazil (1) each lost one; the remaining Brazilian company, Banco do Brasil, is South America's sole representative on the Global Service 500. India dropped off the list entirely. South Africa, the only African country in the rankings, doubled its number of companies to four. Spain (16) added two, and Hong Kong (3) and China (2) each gained one. Mexico joined the list with Telefonos de Mexico, one of the very few stars of the Global Service 500. Two American companies -- AT&T and Cargill -- cracked the top ten in diversified services. Last year all ten were Japanese trading companies known as the sogo shosha. But the Japanese still dominate the list, with 35 of 100 companies. They also hold sway over commercial banking, with eight of the top ten banks and 26 of the top 100. The largest U.S. bank -- Citicorp -- slipped to 25th place from 22nd. This year, as last, the U.S. leads in only one category: retailing, where the three biggest companies are American. Japan heads insurance, in addition to diversified services and commercial banking. French companies sit atop both the transportation and utilities lists.

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