Financial Results

For the consolidated performance of TDK, net sales came to ¥851,575 million, an increase of 4.6% from the ¥814,497 million reported in fiscal 2012, and operating income was ¥21,648 million, a 15.8% increase from ¥18,687 million in fiscal 2012.
In mobile phones production, while that of conventional mobile phones declined, smartphone production grew, resulting in a slight rise over fiscal 2012 production levels for the total mobile phone market. Similarly, automobile production saw a marginal year-on-year increase for the market as a whole. This was due largely to the brisk sales performance of automobiles in the U.S., which offset the greater-than-expected sluggishness in the sales performance of hybrid cars and other visible declining factors. Meanwhile, in PC production, while that of tablet devices exceeded levels exhibited during fiscal 2012, notebook and desktop PC production fell below fiscal 2012 levels. Hard disk drive (HDD) production also fell below fiscal 2012 levels as a consequence of fluctuations in demand for PCs and certain other products.

  • Financial Highlights
  • Sales by Segment

Sales by Segment

Financial Highlights

(millions of yen)

Years ended March 31 or as of March 31

  2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Net sales 604,865 655,792 657,853 795,180 862,025 866,285 727,400 805,194 871,943 814,497 851,575
(Overseas sales) 439,381 487,169 473,828 621,522 690,673 714,172 610,944 703,190 763,046 702,469 747,062
Cost of sales 459,552 476,407 484,323 585,780 622,819 635,529 605,943 614,341 654,180 634,257 676,079
Selling, general, and administrative expenses 115,569 122,875 119,886 142,052 159,106 158,921 159,878 158,976 153,442 161,715 152,287
Transfer to the government of the substitutional portion of the Employees’ Pension Fund:                      
Subsidy from the government     (33,533)                
Loss on settlement     27,347                
Gain on sales of business to Imation Corp.           (15,340)          
Restructuring cost 5,197   —   — 6,825 510   — 15,884 4,922   —   —   —
Production realignment cost                   6,570 1,561
Realignment-related gain; Sale of properties                   (6,732) —
Operating income (loss) 24,547 56,510 59,830 60,523 79,590 87,175 (54,305) 26,955 64,321 18,687 21,648
Income (loss) before income taxes         88,665 91,505 (81,630)        
Income (loss) from continuing operations before income taxes 20,552 55,847 60,728 66,103       23,088 60,620 12,245 18,858
Income taxes 6,193 12,133 23,284 21,057 16,985 19,948 (17,041) 9,401 15,105 11,486 14,328
Income (loss) from continuing operations 13,593 43,355 36,965 44,411       13,687 45,515 759 4,530
Loss (income) from discontinued operations 1,574 1,254 3,665 310       (805) (511) (2,460) —
Net income (loss) attributable to TDK 12,019 42,101 33,300 44,101 70,125 71,461 (63,160) 13,520 45,264 (2,454) 1,195
  2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Per common share (Yen):                      
Net income (loss) attribute to TDK basic 90.56 317.80 251.71 333.50 529.88 551.72 (489.71) 104.82 350.90 (19.06) 9.50
Net income (loss) attributable to TDK diluted 90.56 317.69 251.56 333.20 529.29 551.19 (489.71) 104.74 350.57 (21.42) 5.36
Net cash flow 521.05 700.46 650.47 775.50 1,022.45 1,101.11 204.75 750.77 948.98 600.96 627.89
Net assets 4,176 4,352 4,832 5,311 5,759 5,557 4,297 4,215 4,142 3,957 4,460
                       
Dividends per common share (Yen) 50.00 55.00 70.00 90.00 110.00 130.00 130.00 60.00 80.00 80.00 70.00
Payout ratio (%) 55.2 17.3 27.8 27.0 20.8 23.4   — 57.2 22.8 — 736.8
                       
Total assets 747,337 770,319 808,001 923,503 989,304 935,533 1,101,036 1,091,458 1,060,853 1,072,829 1,169,642
Stockholders’ equity 553,885 576,219 639,067 702,419 762,712 716,577 554,218 543,756 534,273 498,159 561,169
                       
Working capital 315,948 360,555 379,746 397,131 449,830 300,859 281,536 286,370 199,186 219,918 232,693
Capital expenditures 41,026 44,471 61,005 73,911 70,440 84,312 98,425 64,370 78,638 99,653 85,606
Depreciation and amortization 57,132 50,726 52,806 58,540 65,337 71,297 89,567 83,392 77,264 79,918 77,938
Research and development 30,099 32,948 36,348 45,528 50,058 57,387 57,645 53,874 52,608 52,551 53,943
                       
Ratio of overseas production to net sales (%) 55.8 58.6 59.0 61.7 62.2 70.1 74.0 80.5 83.7 80.2 81.8
Number of employees 31,705 36,804 37,115 53,923 51,614 60,212 66,429 80,590 87,809 79,175 79,863