TDK Corporation today announced revisions to its projected consolidated financial results for the fiscal year ending March 31, 2014 that was announced on October 31 in 2013, in light of recent business performance. Details of the revisions are as follows.
Revision of Projections for Consolidated Financial Results
Consolidated Projections for FY March 2014 (April 1, 2013 – March 31, 2014)
Income Before Income Taxes
Net Income Attributable to TDK
Net Income per Common Share Attributable to TDK
Previous projections (A)
(Million yen) 930,000
(Million yen) 30,000
(Million yen) 28,000
(Million yen) 13,000
Revised projections (B)
Reference: Results for year ended March 31, 2013
Reason for Revising Projections for Consolidated Operating Results In the electronics market, TDK expects sales of electronic components for the automotive market, HDD heads and rechargeable batteries, which particularly impact TDK’s results, to be stronger than assumed in the previously announced consolidated projections, and the yen is also expected to grow weaker against the U.S. dollar than previously assumed. Furthermore, the Blu-ray Disc business will become a discontinued operation, because TDK plans to exit it as part of structural reforms in the fourth quarter. In light of the aforementioned circumstances, TDK has revised its consolidated projections, as outlined above. Regarding fiscal 2013 results, figures have been restated with the data tape business included in discontinued operations. However, the Blu-ray Disc business is included in continuing operations.