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Notice regarding Revision of Projections for Consolidated Financial Results, Dividend of Surplus (Interim) and Year-End Dividend Projections

November 1, 2021

TDK Corporation (“the Company”) hereby announces that it has revised the projected consolidated financial results for the fiscal year ending March 31, 2022, which was previously announced on July 28, 2021, as mentioned below.
Furthermore, the Company has resolved at the meeting of its Board of Directors held on November 1, 2021, to distribute dividends of surplus (interim) with the record date of September 30, 2021, and to revise the year-end dividend projections for the fiscal year ending March 31, 2022. Details of the revisions are as follows.

  1. Revision of Projections for Consolidated Financial Results for FY March 2022 (April 1, 2021-March 31, 2022)
      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)
    1,600,000
    (Million yen)
    150,000
    (Million yen)
    150,000
    (Million yen)
    100,000
    (Yen)
    263.87
    Revised projections (B) 1,800,000 157,000 162,000 110,000 290.25
    Change (B-A) 200,000 7,000 12,000 10,000
    % change 12.5 4.7 8.0 10.0
    Reference: Results for
    the previous period
    (FY March 2021)
    1,479,008 111,535 121,904 79,340 209.36

    (Note)
    The Company split one share of its common stock into three shares with the effective date of October 1, 2021. Net income per common share attributable to TDK is calculated based on the assumption that the stock split was conducted on April 1, 2020.

  2. Details of Interim Dividend for FY March 2022
      Interim dividend
    determined for
    this fiscal year
    Most recent dividend
    Forecast (announced on July 28, 2021)
    Interim dividend
    paid for the previous
    fiscal year
    Record date September 30, 2021 September 30, 2021 September 30, 2020
    Dividend per share 100.00 yen 95.00 yen 90.00 yen
    The total amount of dividend 12,633 million yen 11,369 million yen
    Effective date December 2, 2021 December 2, 2020
    Source of dividend Retained earnings Retained earnings

    (Note)
    The Company split one share of its common stock into three shares with the effective date of October 1, 2021. The interim dividends for the fiscal year ending March 31, 2022, with the record date of September 30, 2021, will be paid on the basis of the number of shares prior to the stock split.

  3. Revision of Year-end Dividend Projections for FY March 2022
      Dividend per share
    Interim Year-end Total
    Previous projections
    (announced on July 28, 2021)
    95.00 yen 32.00 yen
    Revised projections 36.00 yen
    Results for FY March 2022 100.00 yen
    Results for FY March 2021 90.00 yen 90.00 yen 180.00 yen

    (Note)
    The Company split one share of its common stock into three shares with the effective date of October 1, 2021. As for dividend per share for the fiscal year ending March 31, 2022, the interim dividend is the amount prior to the stock split while the year-end dividend forecast is the amount after the stock split. No annual dividend forecast is provided as the simple total cannot represent the accurate amount due to the effects of the stock split. The annual dividend forecast (conversion prior to the stock split) was 191.00 yen per share in the previous projections, but due to this revision of dividend projections, it will be 208.00 yen per share.

  4. Reasons for Revision of Projections for Consolidated Financial Results, Dividend of Surplus (Interim) and Year-end Dividend Projections
    The operating results for the first half of the fiscal year ending March 31, 2022, sales of Passive Components and Sensors grew in the automotive market as orders remained strong due to an increase in the number of components installed per vehicle and the movement to secure stock of components. In addition, in the ICT market, sales of Rechargeable Batteries, Passive Components and Sensors grew as demand for notebook PCs and tablets remained robust and fifth-generation mobile communication system (5G) related demand expanded. Furthermore, sales of HDD Heads for servers remained strong, reflecting a recovery in demand related to data centers, which had been sluggish in the previous fiscal year. Based on the results achieved during the first half of the fiscal year ending March 31, 2022, we have made an upward revision to the previous projections as mentioned in “1. Revision of Projections for Consolidated Financial Results for FY March 2022” above.
    Furthermore, in light of the current situation, with regard to the interim dividend, the Company determined a further increase of 5 yen per share from the previous projections to 100 yen per share. With regard to the year-end dividend projections, the Company is planning a further increase of 4 yen per share (conversion prior to the stock split: increase of 12 yen per share) from the previous projections to 36 yen per share (conversion prior to the stock split: 108 yen per share).

    (Note)
    The above projections are based on information currently available to the Company. Due to various factors, actual results may differ from such projections.

Contact for media

Contact Phone Mail
Mr. Kazushige Atsumi TDK Corporation +81 3 6778-1055 pr@jp.tdk.com

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