HMV leaps on news of Japan sale

With the announcement that HMV are selling their Japanese business to DSM Investments for $140 million stock in the company jumped 6.5 percent to 130 on  Monday, after making steady gains through the previous week.

With all eyes on sales in its Waterstones division after the launch of Harry Potter, noting that over the atlantic ocean in the USA Harry Potter was a lifeline to Borders bookstores.

With dividends due in September and a turn around plan in place, HMV seems well placed to ride out the retail storm. Though realities of on line music downloads hitting Music retailers still present challenges to the current business model.