Japan Earnings Gloom Fades as Panasonic Paces Tokyo Rally

Panasonic Corp. had its best week in more than two years of Tokyo trading, following its forecast for a record $10 billion loss, showing some investors are betting Japan’s biggest exporters have hit bottom.

Sony Corp. had its biggest weekly gain in more than three months, after more than doubling its net loss forecast to 220 billion yen ($2.8 billion) for this fiscal year, the most since listing in 1958. Toyota Motor Corp., which expects less than half as much profit this year as last, surged 5.6 percent, the biggest gain in more than two months.