Information contained in the news releases are current as of the date of the press announcement, but may be subject to change without prior notice.
October 31, 2011
TDK Corporation (“the Company”) today announced revisions to its projected consolidated financial results for the fiscal year ending March 31, 2012 that were announced on June 21, in light of recent business performance. Details of the revisions are as follows.
- Consolidated Projections for FY March 2012 (April 1, 2011 ? March 31, 2012)
Net Sales Operating Income Income Before Income Taxes Net Income Attributable to TDK Net Income per Common Share Attributable to TDK Previous projections (A) (Million yen)
Revised projections (B) 820,000 35,000 30,000 20,000 155.03 Change (B-A) Δ70,000 Δ32,000 Δ35,000 Δ30,000 - % change -7.9% -47.8% -53.8% -60.0% - Reference: Results for year ended March 31, 2011 875,737 63,842 60,065 45,264 350.90
- Reasons for Revisions
When it announced its previous forecasts, TDK assumed a recovery in business performance from the second half of fiscal 2012. However, TDK now expects sales of main finished products in the electronics market and demand for electronic components used in them to be more sluggish than initially anticipated. TDK has incorporated this into its projected performance for the second half of fiscal 2012. Furthermore, TDK has revised its assumed exchange rates from the third quarter onwards, from 80 yen to 76 yen against the U.S. dollar and from 110 yen to 105 yen against the euro. In doing so, TDK is assuming that the yen will remain strong, reflecting instability in financial markets worldwide. TDK has also factored in as far as it is possible the impact of widespread flooding in Thailand in October. For these reasons, TDK has lowered its June 21 forecasts, as shown in the table above.
- Note: These projections are based on information available to TDK at this time. Actual business performance may vary as a result of various factors arising in the future.
For further information, contact the Corporate Communications Dept.