Panasonic surges over 15 percent after strong quarterly earnings

A shopper walks past a Panasonic Corp logo at an electronics retail store in Tokyo
A shopper walks past a Panasonic Corp logo at an electronics retail store in Tokyo February 3, 2014. REUTERS/Yuya Shino

TOKYO (Reuters) - Shares in Panasonic Corp jumped more than 15 percent to 1,249 yen on Wednesday morning after its quarterly earnings more than tripled and the company signalled it is nearing the end of its long-running restructuring.

Panasonic was the fifth-most traded stock on the main board.

Toyota Motor Corp was the second-most traded stock, up more than 5 percent to 5,782 yen after the automaker raised its operating profit forecast to a record 2.4 trillion yen (14.48 billion pounds) for the year to end-March.

Hitachi Ltd also lifted its full-year earnings forecast, putting it on course to break through a 23-year-old profit record as automotive and construction sectors boosted its earnings.

(Reporting by Dominic Lau)