TDK Shares Soar After Forecast Beat Outweighs Memory Price Fears

TDK Corp. shares surged 11% after the Japanese electronics components maker raised its full-year operating profit forecast, citing stronger-than-expected demand and a weaker yen.

The Apple Inc. supplier’s stock price jumped by its most intraday since April last year. The company the previous day lifted its operating income outlook for the year ending March by 8% to ¥265 billion ($1.7 billion), ahead of the average of analyst estimates. The company also raised its net income and sales forecasts, and it raised its dividend projection to ¥34 a share.