Panasonic Jumps Most in Six Weeks on Reorganization Plans
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Panasonic Corp., the world’s largest maker of plasma televisions, rose the most in almost six weeks in Tokyo trading after announcing plans to cut jobs and restructure operations to restore profitability.
Panasonic gained as much as 3.3 percent, the biggest intraday gain since March 22, and traded up 2.5 percent at 1,023 yen as of 10:24 a.m. The benchmark Nikkei 225 Stock Average rose 1 percent.