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Notice regarding Revision of Projections for Consolidated Financial Results

August 2, 2023

TDK Corporation (TSE:6762) (“the Company”) hereby announces that it has revised the projected consolidated financial results for the fiscal year ending March 31, 2024, which was previously announced on April 28, 2023, as mentioned below.

  1. Revision of Projections for Consolidated Financial Results for FY March 2024 (April 1, 2023 - March 31, 2024)
      Net sales Operating
    profit    		 Profit before tax Net profit
    attributable to owners of
    parent    		 Basic earnings
    per share
    Previous projections (A)
    (announced on April 28, 2023)    		 (Million yen)
    2,020,000    		 (Million yen)
    190,000    		 (Million yen)
    188,000    		 (Million yen)
    147,000    		 (Yen)
    387.57
    Revised projections (B) 1,970,000 150,000 150,000 105,000 276.83
    Change (B-A) (50,000) (40,000) (38,000) (42,000) －
    % change (2.5) (21.1) (20.2) (28.6) －
    Reference: Results for
    the previous period
    (FY March 2023)    		 2,180,817 168,827 167,219 114,187 301.19
  2. Reasons for Revision of Projections for Consolidated Financial Results

    Based on the information currently available to TDK, production volume of ICT related devices is expected to decrease from the second quarter onward compared to the initial forecast. Production volume of HDDs for data centers, in particular, is anticipated to drop sharply. In addition, there have been changes in demand trends related to Passive Components for the automotive market due to the adjustment of components inventories by some customers among other factors. As a result of the review of order outlook by taking into the above, TDK forecasts that sales of HDD Heads, HDD Suspension Assemblies, and Passive Components, in particular, will be lower than its initial forecast. In light of the above, the Company has revised consolidated performance projections as stated in 1. above from the previous projections.

    The interim and year-end dividend for the fiscal year ending March 31, 2024, will not change from the initial plan.

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

Contacts for media

Region Contact Phone Mail
Japan Mr. Satoshi SAKAI TDK Corporation
Tokyo, Japan		 +81 3 6778-1068 TJP.ir@tdk.com