Sanyo Electric Co., Ltd
TYO:6764 ISIN:JP3340600000
SANYO Electric Co., Ltd. (TSE: 6764)(US: SANYY) is one of the world's major consumer electronics companies. Leading the way in innovations that expand the scope of multimedia product technology, SANYO continues to advance business enterprise development supplying world-class electronic products to satisfy rapidly evolving markets. SANYO's businesses cover a broad range of multimedia and information systems, home appliances, commercial equipment, electronic devices, batteries and other products. SANYO's net sales in the fiscal year ending on March 31, 2003, amounted to 2,182.6 billion yen (US$18,188 million). The SANYO group is truly an international organization, comprising 84 manufacturing companies, 37 sales companies and 39 other companies worldwide.
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Shares of Sanyo Electric Co Ltd. (TYO:6764) rose today after a media report that the electronics maker's operating profit would likely jump 50 percent this financial year, helped by the distribution network of its parent company Panasonic Corp.(TYO:6752), which acquired a majority stake in Sanyo in December.
Asian equity markets Friday experienced heavy losses after Wall Street's tumble and concerns over European sovereign debt. Japan's Nikkei index fell 2.9%. Hong Kong's Hang Seng Index lost 3.3%, its first finish below 20000 since September. South Korea's Kospi lost 3% to 1567.12, Taiwan's Taiex sank 4.3% and China's Shanghai Composite gave up 1.9%.
Asian stocks mostly Friday moved higher at opening after the strong economic figures from the US boosted investor confidence. Today the focus will be on a series of economic data of China. The nation's key official figures on industrial production, CPI, and retail sales are due out later in the day.
Most Asian markets started the trading session with volatility on Monday after US stocks retreated on Friday. Tokyo and Seoul shares opened flat, and soon proceeded to a negative territory. Today Investors are also awaiting US government to unveil its plan to help the auto industry.
Asian major indexes were higher Friday after a late-day recovery in the U.S. market. Japan's Nikkei 225 closed up 0.96%, while Korea's Kospi ended 0.5% higher. Shanghai Composite surged 3% to over 2300 points, Hong Kong's Hang Seng Index added 2.47% and Taiwan's main index up 2.1%.
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