Panasonic Soars Most Since 2014 on Restructuring Hopes

Panasonic Holdings Corp. shares soared 15% in Tokyo trading Thursday, the biggest gain since 2014, on investor confidence that a lengthy restructuring effort will start paying off next fiscal year.

The company is expanding the scale of job cuts this year to as many as 12,000, up from a previously planned 10,000, it said in earnings released Wednesday. It also posted better-than-expected quarterly operating profit.