Sony shares jump as debt agency upgrades company rating

[mankind]

The outlook for PlayStation manufacturer Sony has been given a shining endorsement from a Tokyo based business ratings agency.
Shares in Sony jumped 11 per cent after Daiwa Securities raised the corporation's rating after suggesting the company is on track to turn a profit by the end of the financial year. Along with the upcoming PlayStation 4 release in the holiday period, Sony has also enjoyed fair success with its latest smartphone. The Xperia Z, which launched last month, is said to have been the top-selling smartphone in Japan for four weeks straight.
Shares in Sony closed at an 11-month high in Tokyo on Monday.
In November, ratings agency Fitch cast doubt on Sony's prospects, claiming that a "meaningful recovery will be slow, given the company's loss of technology leadership in key products, high competition, weak economic conditions in developed markets and the strong yen". It gave the PlayStation firm a 'junk' status.

http://www.computerandvideogames.com...ompany-rating/

[claud3]

Nice to hear... But some might assume this is artificial growth done by dodgy share sharing and shady deals behind close doors. To make it seem all is fine in the company

But then again this could actually be true and the PS4 is going to boost the stock even higher

[shepard]

Nice to hear... But some might assume this is artificial growth done by dodgy share sharing and shady deals behind close doors. To make it seem all is fine in the company

But then again this could actually be true and the PS4 is going to boost the stock even higher

While I won't deny the fact that dodgy share sharing does take place in the world today. I'd be more likely to assume that Sony selling some of it's largest building locations for mass amounts of money recently would be a great contributor in this change they are seeing.

[admartian]

While I won't deny the fact that dodgy share sharing does take place in the world today. I'd be more likely to assume that Sony selling some of it's largest building locations for mass amounts of money recently would be a great contributor in this change they are seeing.

Yep - more like this.

It's still too early to say for certain, but Kaz seems to be kicking butt and taking names internally. Good for Sony.