Fly the title of Panasonic on the Tokyo Stock Exchange. The electronics giant jumped nearly 17 points after data released on Friday that showed an EBITDA tripled.
Panasonic closed the third quarter with a net profit of 61,4 billion yen, against a net loss of 197,6 billion in the same period of the previous year. The data is linked to the weakness of the yen and to the aggressive cost containment plan adopted by the group. The results came three months after the loss of around 700 billion, one of the largest ever recorded by a Japanese producer.
Under the leadership of Kazuhisa Tsuga, Panasonic is carrying out a radical change in its strategy, moving away from the consumer electronics business to focus on industrial products that offer higher profit margins.
Panasonic's hike also dragged along Sony (+ 7,5%) and Sharp (+5,47%). Strong earnings for the Topix, which recovered 1,39%, to 955,75 points. The performance of these stocks, added to the good ones US macroeconomic data (in particular that on work) released on Friday and the weakening of the yen against the euro and the dollar, pushed the Nikkei index to 11.260 points, up by 0,62% and the highest since April 2010.
The last session recorded boom volumes (4,45 billion pieces traded, a record since 11 March 2011, i.e. the first session after the tsunami).
