Sony hasn’t had a very happy few years on the financial markets. We seem to have a new story about their debts, layoffs, restructuring or lowering ratings with creditors every month or two. So it’s nice to be able to publish a more positive story about their financial situation for a change.
The Nikkei, Japan’s financial market, closed at a four and a half year high last night. That’s after the Dow Jones in the US closing at an all-time record high early last week. The Nikkei’s fortune is most likely linked to speculation that their central bank, under new leadership, is set to ease monetary policy.
In this more buoyant market, Sony’s stock has had a decent jump of 11 per cent. That comes after Daiwa Securities raised their investment rating of the company from neutral to “buy”. The turnaround follows the huge success of Sony’s latest flagship Android smartphone in Japan. The Xperia Z has been the top seller for four straight weeks.
The 11 per cent rise in stock value sees Sony’s highest stock closure in 11 months and is great news for the company who look like they have a chance at turning a profit in fiscal 2014, the financial year the PlayStation 4 goes on sale.