Just days after becoming a public target for a takeover, Sanyo has revealed financial results that show the bottom line may be picking up.

Despite the fact that profit for the whole year was down 11 per cent, sales in the six months to September were 3 per cent up on the previous year at ¥1 trillion (£6.3 billion), which has to be encouraging if the board wishes to rebut Panasonic's interest.

Energy enthusiasm

The reason for the recent surge in sales was a strong performance by both the battery and solar-power equipment divisions. However, Sanyo and Panasonic batteries regularly compete for shelf space in Japanese shops.

Equally confusingly for prospective investors, Sanyo's TV division saw its profits slashed by more than half in spite of sales rising by over 50 per cent.