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A man walks past an advertisement board of Panasonic at an electronic shop in Tokyo February 1, 2013. Panasonic Corp rebounded to a quarterly profit and stuck with its full-year earnings forecast, as it moves its business away from loss-making TVs in favor of household appliances, batteries and other non-consumer electronics.
A man walks past an advertisement board of Panasonic at an electronic shop in Tokyo February 1, 2013. Panasonic Corp rebounded to a quarterly profit and stuck with its full-year earnings forecast, as it moves its business away from loss-making TVs in favor of household appliances, batteries and other non-consumer electronics.
(Yuya Shino/Reuters)

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Japanese electronics makers catch a break – a weakening yen

Japan’s assault on the yen has produced some clear winners: Investors in the country’s beaten-up consumer electronics industry. Shares in Panasonic jumped 17 per cent on Feb. 4 after the group reported a less-severe-than-expected quarterly loss. The hope is that stronger exports and recent cost-cutting will transform earnings. But with revenue still shrinking, the recent rally is largely based on hope.