TOKYO, Nov 20 (Reuters) - Shares of Japan's Panasonic Holdings (6752.T) have rallied about 10% since it announced on Friday a plan to sell a stake in its automotive systems business and the unit's potential listing raised broader restructuring hopes.
Over the last decade, Hitachi's shares have more than trebled, when taking into account dividends, compared to a 87% return by Panasonic.
Investors reacted positively to the potential sale of the stake in the automotive unit, which makes cockpit and electronics systems.
With its plan, Panasonic likely starts a journey to make itself into a company with a higher return on equity, they said.
Panasonic's automotive unit is separate from its energy unit that makes batteries for electric vehicles, including those from Tesla (TSLA.O).
Persons:
Damian Thong, Thong, Jefferies, Hitachi's, Ulrike Schaede, Daniel Leussink, Simon Cameron, Moore
Organizations:
Japan's Panasonic Holdings, Apollo Global Management, Panasonic, Hitachi, Macquarie, Investors, University of California San, Thomson
Locations:
TOKYO, Tokyo, Singapore, University of California San Diego