Sony shares rise in Tokyo after upbeat earnings

Sony shares jumped nearly 9 percent in Thursday trading in Tokyo, a day after the Japanese electronics and entertainment company released upbeat earnings that included a record fiscal year profit.

Sony stock closed at 5,270 yen ($50) midday, up 8.7 percent from the previous day, as the market welcomed the strongest sign in years of the Tokyo manufacturer's path to recovery. Sony has taken a beating in recent years after falling behind rivals in digital music players and flat-panel TVs.

A global plunge in gadget prices and the enormous startup costs for the struggling PlayStation 3 video game console have also taken their toll on Sony's performance.

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