Vladimír Urbánek (Kurzy.cz)
World markets  |  February 04, 2013 10:30:05

Panasonic shares rise after results of the most in 38 years

Shares of Japanese leader in the production of TV, Panasonic, during today's trading overnight strengthen the full daily limit of 17% results after considerable surprise.

Shares of the company rose the most since 1974 after the company reported a Q4 net profit last year at 61 mld.JPY (about 658 mill.USD) compared to a loss of market estimated at around 17 mld.JPY.
An unexpected improvement was mainly attributable to a weakening yen, sale of surplus assets and reduce the number of employees reducing corporate costs. Panasonic since April last year dismissed for the entire year 2012 about 38,000 employees. By the end of March should go even further approximately 8,000 employees. The total is roughly the level of 380 000th

It is assumed that the Panasonic to the end of March will present its new medium-term outlook.

Competing Sony will announce its results on Thursday. Sharp has done so well surpassed expectations. Shares of both companies in response to the results of Panasonic also significantly stronger.
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