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TDK Signs Definitive Agreement to Acquire HDD Suspension Manufacturer

Nov. 2, 2015

TDK Corporation announced that it has signed a definitive agreement on Nov 1, 2015 to acquire HDD suspension manufacturer, Hutchinson Technology Incorporated (”HTI”). HTI will become a TDK Group company whose shares are 100% owned by a TDK subsidiary company in the USA.

HTI manufactures components for HDD suspensions (mount plate, trace-gimbal circuit and stainless steel etching parts) and assembles these components into HDD suspensions, a key component of HDD heads. This acquisition will enhance TDK’s suspension business and overall HDD head business. TDK expects this acquisition to further differentiate the TDK Group and strengthen its competitiveness.

The agreement is subject to HTI shareholder and regulatory approval and is currently expected to be completed during the first calendar quarter of 2016.

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Overview of HTI
Company : Hutchinson Technology Incorporated
Headquarters : Hutchinson, Minnesota, U.S.A.
President & CEO : Richard J. Penn
Main business : Development, manufacture and sales of HDD components and suspension
No. of operation sites : 2 in USA, 1 in Thailand
No. of employees : Approximately 2,400
Effect on Operating Results

The acquisition of these shares will have an immaterial effect on TDK’s operating results.

About TDK Corporation

TDK Corporation is a leading electronics company based in Tokyo, Japan. It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's portfolio includes electronic components, modules and systems* marketed under the product brands TDK and EPCOS, power supplies, magnetic application products as well as energy devices, flash memory application devices, and others. TDK focuses on demanding markets in the areas of information and communication technology and consumer, automotive and industrial electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2015, TDK posted total sales of USD 9.0 billion and employed about 88,000 people worldwide.

* The product portfolio includes ceramic, aluminum electrolytic and film capacitors, ferrites, inductors, high-frequency components such as surface acoustic wave (SAW) filter products and modules, piezo and protection components, and sensors.

Contact for media
Contact Phone Mail
Mr. Sumio Marukawa TDK Corporation
Corporate Communications Group
+81 3 6778-1055