Notice of Voluntary Adoption of International Financial Reporting Standards (IFRS)
February 22, 2022
TDK Corporation (President: Shigenao Ishiguro, TSE:6762) has adopted a resolution at the Board of Directors meeting on February 22, 2022 regarding voluntary adoption of International Financial Reporting Standards (“IFRS”) to its consolidated financial statements in place of the current Generally Accepted Accounting Principles in the United States (“U.S. GAAP”) in order to enhance the international comparability of its financial information in the capital markets and to improve the efficiency and quality of group management. This adoption will take place from the Annual Securities Report for the fiscal year ending March 31, 2022, and it will apply to the subsequent disclosure materials.
As for the Summary of Consolidated Financial Results and Consolidated Financial Statements under the Companies Act for the fiscal year ending March 31, 2022, these disclosure materials will be disclosed under the U.S. GAAP.
Disclosure schedule for the voluntary adoption of IFRS (planned):
Period | Disclosure Materials | Accounting Standard | |
---|---|---|---|
Fiscal year ending March 31, 2022 | Year-end | Summary of Consolidated Financial Results* Consolidated Financial Statements |
U.S. GAAP |
Annual Securities Report | IFRS | ||
Fiscal year ending March 31, 2023 | First, Second, and Third Quarter | Summary of Consolidated Quarterly Financial Results Quarterly Report |
IFRS |
Year-end | Summary of Consolidated Financial Results Consolidated Financial Statements Annual Securities Report |
IFRS |
*The Summary of Consolidated Financial Results for the fiscal year ending March 31, 2022 will also be disclosed under IFRS at a later date.
Contacts for media
Contact | Phone | ||
---|---|---|---|
Mr. Kazushige Atsumi | TDK Corporation | +81 3 6778-1055 | TDK.PR@tdk.com |