Tokyo - Sony shares surged as much as 18 percent to their highest intraday level in nearly five years on Thursday as an improved earnings outlook offered a glimmer of hope for the struggling electronics firm.
The company rose by its daily limit to a morning high of 3,269.0 yen on the Tokyo Stock Exchange, before easing back to 3,194.0 by the break, still up 15.34 percent.
After Japanese markets closed on Wednesday, Sony said it now expects to lose 170 billion yen ($1.4 billion) in its fiscal year to March, a hefty shortfall but much narrower than the 230 billion yen previously forecast.
It also projected an operating profit of 20 billion yen, turning around an October estimate that it would lose 40 billion yen.
A weak yen helped Sony's third-quarter results as net profit more than tripled, helped by a pick-up in its smartphone and PlayStation console businesses while restructuring costs shrank.