Page last updated at 12:31 GMT, Wednesday, 5 November 2008

Sanyo up on acquisition reports

Panasonic and Sanyo signs
Sanyo has seen quarterly profits fall

Troubled Japanese electronics firm Sanyo has seen its shares rise nearly 18%, amid speculation that it could be bought by rival Panasonic.

Sanyo shares ended 17.9% higher on Wednesday at 230 yen ($2.30; 1.40).

The rise came as the firm said its net profits for the third quarter had fallen 67% to 4.4bn yen from 13.4bn in the same period last year.

Analysts argue that Panasonic could benefit from Sanyo's strength in lithium-ion batteries and solar panels.

Sanyo issued a statement saying "nothing has been officially decided," after reports about a possible tie-up.

Despite the third quarter profits fall, Sanyo is still forecasting that its 2009 profits will be 22% higher at 35bn yen.

"We feel that we are in the intermediate step in the process toward accomplishing the new mid-term management plan," said Seeichiro Sano, Sanyo's president.

The firm said it was making investments with the aim of becoming "a leading provider of environment and energy-related products".

Sales for period between July and September fell 0.8% to 527bn yen, Sanyo said, but sales in its solar and batteries divisions remained robust.



Print Sponsor


SEE ALSO
Batteries to power Sanyo profits
28 Nov 07 |  Business
Female boss exits Sanyo hotseat
19 Mar 07 |  Business
Sanyo knocked by accounts probe
23 Feb 07 |  Business

RELATED INTERNET LINKS
The BBC is not responsible for the content of external internet sites


FEATURES, VIEWS, ANALYSIS
Has China's housing bubble burst?
How the world's oldest clove tree defied an empire
Why Royal Ballet principal Sergei Polunin quit

PRODUCTS & SERVICES

Americas Africa Europe Middle East South Asia Asia Pacific