Sony is seeing a resurgence as of late, as the company’s stock saw an 11 percent increase after Daiwa Securities
raised its rating to ‘buy’ from ‘neutral’.
Daiwa Securities believes the company could become profitable in fiscal 2014 due to strong smartphone sales. The stock closed at an 11-month high of 1,668 yen, and was the main board’s most traded stock by turnover. Japan’s business daily Nikkei reported that the Xperia Z, a new smartphone model Sony launched last month, was the top-selling model in Japan for four straight weeks.
It’s also important to note that Sony’s new boss Kaz Hirai has been slimming down the company by selling shares in some of its holdings, and have sold two of its buildings, netting billions.