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Notice regarding Revision of Projections for Consolidated Financial Results and Revision of Dividend Projections

Jan. 31, 2013

TDK Corporation today announced revisions to its projected consolidated financial results for the fiscal year ending March 31, 2013 and its projection for dividends per common share for the fiscal year ending March 31, 2013 that were announced on October 31 in 2012, in light of recent business performance. Details of the revisions are as follows.

Revision of Projections for Consolidated Financial Results

Consolidated Projections for FY March 2013 (April 1, 2012 – March 31, 2013)

  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)
(Million yen)
(Million yen)
(Million yen)
Revised projections (B) 835,000 19,000 14,000 2,000 15.90
Change (B-A) (15,000) (22,000) (23,000) (18,000) -
% change -1.8% -53.7% -62.2% -90.0% -
Reference: Results for year ended March 31, 2012 814,497 18,687 12,245 (2,454) (19.06)

Reason for Revising Projections for Consolidated Operating Results
Sales of TDK products in the third quarter were lower than assumptions made in full-year projections of consolidated operating results announced on October 31, 2012. This was due to sales of main finished products and demand for electronic components used in them in the electronics market in the third quarter being more sluggish than initially anticipated. Furthermore, TDK expects sales of its products to remain soft in the fourth quarter amid continued challenges in its markets. TDK also expects to see a drop in its capacity utilization rate. Consequently, TDK has revised its projected full-year consolidated operating results as above, because second-half consolidated net sales and operating income are expected to be lower than its October 31, 2012 projections.

Revision of Dividend Projections

Details of revision

  Annual Dividend
  End of 1st Quarter End of 2nd Quarter End of 3rd Quarter Year-End Total
Previous projection
(announced on October 31, 2012)
Current projection - - - 30.00 70.00
Interim dividends for FY March 2013 - 40.00 - - -
Reference: Dividends for FY March 2012 - 40.00 - 40.00 80.00

Reasons for Dividend Forecast Revision
On October 31, 2012, TDK issued “Notice regarding Revision of Dividend Projections” in which it lowered its year-end dividend forecast to 40 yen per common share. However, TDK has made the revision above based on the aforementioned revisions to its business results projections and taking into consideration dividend policy, management environment and other factors.

For further information, contact the Corporate Communications Dept.
Tel.: 81-3-6778-1055