According to the Nikkei business news daily, Japanese company TDK Inc. will likely beat its first half profit forecasts, due mainly to increased orders for hard drive heads and ongoing strong shipments of components for flat screen televisions and mobile telephones.
TDK is expecting to post a net profit for its group of 38 billion yen ($323.3 million), up 28 percent from one year ago and 2 billion higher than was earlier forecast. TDK’s first half sales are expected to be about 426 billion yen, about 3 billion yen above its earlier forecast.
TDK also fared well from high interest rates in the U.S. and in Europe, which helped increase its interest income from foreign currency deposits, according to the Nikkei.
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