Commission File No. 1-08346
FORM 6-K
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16
of the Securities Exchange Act of 1934
For the
month of February 2009
TDK CORPORATION
(Translation of registrants name into English)
13-1, Nihonbashi 1-chome, Chuo-ku, Tokyo 103-8272, Japan
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.
Indicate by check mark whether the registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.
If Yes is marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b): 82-_______
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
|
|
|
|
|
|
TDK Corporation
(Registrant)
|
|
February 9, 2009
|
BY:
|
/s/ Seiji Enami
|
|
|
|
Seiji Enami
|
|
|
|
Director and CFO,
Executive Vice President ,
General Manager of Administration Group
|
|
|
TABLE OF CONTENTS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Press release regarding TDKs Consolidated results for the 3rd quarter of FY March 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TDK Corporation
February 9, 2009
|
|
|
|
|
Contact;
|
|
|
|
|
TDK Corporation(Tokyo)
|
|
Corporate Communications Department
|
|
|
|
|
Tatsuhiko Atsumi
|
|
+81(3)5201-7102
|
Consolidated
results (U.S. GAAP) for the 9-month-period of FY March 2009
Summary
(April 1, 2008 - December 31, 2008)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The 9-month-period of FY2008
|
|
|
|
The 9-month-period of FY2009
|
|
|
|
Change
|
|
|
|
|
|
|
(April
1, 2007 - Dec. 31, 2007)
|
|
|
|
(April
1, 2008 - December 31, 2008)
|
|
|
|
|
|
|
Item
|
|
|
(Yen millions)
|
|
|
|
%
|
|
|
|
(Yen millions)
|
|
|
|
%
|
|
|
|
(U.S.$ thousands)
|
|
|
|
(Yen millions)
|
|
|
|
Change(%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
|
|
658,430
|
|
|
|
|
100.0
|
|
|
|
|
588,316
|
|
|
|
|
100.0
|
|
|
|
|
6,465,011
|
|
|
|
|
(70,114
|
)
|
|
|
|
-10.6
|
|
|
|
Operating income
|
|
|
|
73,862
|
|
|
|
|
11.2
|
|
|
|
|
9,272
|
|
|
|
|
1.6
|
|
|
|
|
101,890
|
|
|
|
|
(64,590
|
)
|
|
|
|
-87.4
|
|
|
|
Income (loss)
before income taxes
|
|
|
|
77,002
|
|
|
|
|
11.7
|
|
|
|
|
(303
|
)
|
|
|
|
-0.1
|
|
|
|
|
(3,330
|
)
|
|
|
|
(77,305
|
)
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
56,339
|
|
|
|
|
8.6
|
|
|
|
|
(2,449
|
)
|
|
|
|
-0.4
|
|
|
|
|
(26,912
|
)
|
|
|
|
(58,788
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) / Basic
|
|
|
Yen 433.55
|
|
|
Yen (18.99)
|
|
|
|
U.S.$ (0.21)
|
|
|
|
|
|
|
Net income (loss) / Diluted
|
|
|
Yen 433.06
|
|
|
Yen (18.99)
|
|
|
|
U.S.$ (0.21)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
|
58,842
|
|
|
|
|
|
|
|
|
|
86,783
|
|
|
|
|
|
|
|
|
|
953,659
|
|
|
|
|
27,941
|
|
|
|
|
47.5
|
|
|
|
Depreciation and amortization
|
|
|
|
50,696
|
|
|
|
|
7.7
|
|
|
|
|
61,189
|
|
|
|
|
10.4
|
|
|
|
|
672,407
|
|
|
|
|
10,493
|
|
|
|
|
20.7
|
|
|
|
Research and development
|
|
|
|
40,993
|
|
|
|
|
6.2
|
|
|
|
|
42,952
|
|
|
|
|
7.3
|
|
|
|
|
472,000
|
|
|
|
|
1,959
|
|
|
|
|
4.8
|
|
|
|
Result of financial income
|
|
|
|
6,833
|
|
|
|
|
|
|
|
|
|
2,131
|
|
|
|
|
|
|
|
|
|
23,418
|
|
|
|
|
(4,702
|
)
|
|
|
|
-68.8
|
|
|
|
Ratio of overseas production
|
|
|
|
70.0
|
%
|
|
|
|
|
|
|
|
|
75.3
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of employees
|
|
|
|
58,718
|
|
|
|
|
|
|
|
|
|
74,071
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3rd quarter consolidated results
(October 1, 2008 - December 31, 2008)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
3Q of FY2008
|
|
|
|
3Q of FY2009
|
|
|
|
Change
|
|
|
|
|
|
|
(Oct.
1, 2007 - Dec. 31, 2007)
|
|
|
|
(October
1, 2008 - December 31, 2008)
|
|
|
|
|
|
|
Item
|
|
|
(Yen millions)
|
|
|
|
%
|
|
|
|
(Yen millions)
|
|
|
|
%
|
|
|
|
(U.S.$ thousands)
|
|
|
|
(Yen millions)
|
|
|
|
Change(%)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
|
|
225,342
|
|
|
|
|
100.0
|
|
|
|
|
191,779
|
|
|
|
|
100.0
|
|
|
|
|
2,107,462
|
|
|
|
|
(33,563
|
)
|
|
|
|
-14.9
|
|
|
|
Operating income (loss)
|
|
|
|
26,717
|
|
|
|
|
11.9
|
|
|
|
|
(5,109
|
)
|
|
|
|
-2.7
|
|
|
|
|
(56,143
|
)
|
|
|
|
(31,826
|
)
|
|
|
|
|
|
|
|
Income (loss)
before income taxes
|
|
|
|
28,640
|
|
|
|
|
12.7
|
|
|
|
|
(15,129
|
)
|
|
|
|
-7.9
|
|
|
|
|
(166,253
|
)
|
|
|
|
(43,769
|
)
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
21,713
|
|
|
|
|
9.6
|
|
|
|
|
(14,317
|
)
|
|
|
|
-7.5
|
|
|
|
|
(157,330
|
)
|
|
|
|
(36,030
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per common share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) / Basic
|
|
|
Yen 167.39
|
|
|
Yen (111.00)
|
|
|
|
U.S.$ (1.22)
|
|
|
|
|
|
|
Net income (loss) / Diluted
|
|
|
Yen 167.25
|
|
|
Yen (111.00)
|
|
|
|
U.S.$ (1.22)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
|
20,600
|
|
|
|
|
|
|
|
|
|
19,067
|
|
|
|
|
|
|
|
|
|
209,527
|
|
|
|
|
(1,533
|
)
|
|
|
|
-7.4
|
|
|
|
Depreciation and amortization
|
|
|
|
17,584
|
|
|
|
|
7.8
|
|
|
|
|
22,365
|
|
|
|
|
11.7
|
|
|
|
|
245,769
|
|
|
|
|
4,781
|
|
|
|
|
27.2
|
|
|
|
Research and development
|
|
|
|
13,942
|
|
|
|
|
6.2
|
|
|
|
|
15,803
|
|
|
|
|
8.2
|
|
|
|
|
173,659
|
|
|
|
|
1,861
|
|
|
|
|
13.3
|
|
|
|
Result of financial income
|
|
|
|
2,160
|
|
|
|
|
|
|
|
|
|
232
|
|
|
|
|
|
|
|
|
|
2,549
|
|
|
|
|
(1,928
|
)
|
|
|
|
-89.3
|
|
|
|
Ratio of overseas production
|
|
|
|
73.0
|
%
|
|
|
|
|
|
|
|
|
77.6
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
U.S.$1=Yen
91, for convenience only.
1
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
[Summary Information and Financial Statements]
1. Summary Information Regarding Consolidated Business Results
Consolidated results for the first nine months of fiscal 2009, the period from April 1 to December
31, 2008, were as follows:
The first three quarters of fiscal 2009 in the electronics market, which has a large bearing on the
Companys consolidated performance, saw demand languish, particularly for high-performance
electronic devices such as video-related equipment, PCs and mobile phones. In the third quarter in
particular, which is normally a period of high demand, manufacturers of these electronic devices
began cutting back production because of softer demand as the financial crisis jolted the real
economy. As a result, demand for electronic components also dropped sharply. Moreover, a
deteriorating supply-demand environment pushed down product prices further and the yens rapid
appreciation against the U.S. dollar also affected TDKs operating results.
Amid these conditions, TDK posted consolidated net sales of ¥588,316 million (U.S.$6,465,011
thousand), down 10.6% from ¥658,430 million in the corresponding period of fiscal 2008. Operating
income dropped 87.4% from ¥73,862 million to ¥9,272 million (U.S.$101,890 thousand). TDK posted a
loss before income taxes of ¥303 million (U.S.$3,330 thousand), compared with income before income
taxes of ¥77,002 million in the first nine months of fiscal 2008. TDK also recorded a net loss of
¥2,449 million (U.S.$26,912 thousand), compared with net income of ¥56,339 million in the
corresponding period of fiscal 2008. Basic net loss per common share was ¥18.99 (U.S.$0.21),
compared with basic net income per common share of ¥433.55 in the first nine months of fiscal 2008.
On October 17, 2008, TDK made EPCOS AG (Headquarters: Germany; President and CEO: Gerhard Pegam)
and its subsidiaries (the EPCOS Group) consolidated subsidiaries. Accordingly, the EPCOS Groups
results have been included in TDKs consolidated results for the nine months ended December 31,
2008.
Average nine-month exchange rates for the U.S. dollar and euro were ¥102.92 and ¥151.07,
respectively, as the yen appreciated 12.3% versus the U.S. dollar and 7.2% against the euro,
compared to the corresponding period of fiscal 2008. This lowered net sales by approximately ¥62.3
billion and operating income by approximately ¥19.8 billion.
(Sales by Sector)
TDKs net sales are made up of four product sectors: (1) electronic materials, (2) electronic
devices, (3) recording devices, and (4) others. Net sales of the EPCOS Group, which was
consolidated from the third quarter of fiscal 2009, are included in others because the EPCOS
Groups product segmentation doesnt correspond to the segmentation used by TDK. Furthermore,
recording media sales dropped sharply due to the August 2007 transfer of the TDK brand recording
media sales business. Because recording media sales accounted for less than 10% of total net sales
in the first nine months of fiscal 2009, these sales were included in the others sector. Sector
sales were as follows.
2
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
(1)Electronic materials
This sector is broken down into two product categories: capacitors, and ferrite cores and magnets.
Sales in the electronic materials sector dropped 19.4% from ¥154,187 million to ¥124,210 million
(U.S.$1,364,945 thousand).
[Capacitors]
Sales decreased year on year. This reflected lower sales of multilayer ceramic chip
capacitors, the main product in the capacitors category, for use in key applications, namely PCs,
AV and game equipment, mobile phones and car electronics. Flagging demand, falling prices and an
appreciating yen against the U.S. dollar were the other main factors behind the decrease in overall
sales.
[Ferrite cores and magnets]
Sales of ferrite cores and magnets declined year on year, the result of
lower sales for use in main applications in respect of both products.
(2) Electronic devices
This sector has three product categories: inductive devices, high-frequency components and other
products.
Sales in the electronic devices sector declined 13.1% from ¥157,732 million to ¥137,127 million
(U.S.$1,506,890 thousand).
[Inductive devices]
Sales of inductive devices decreased year on year, the result mainly of lower
sales of coils for the auto market, EMC products for mobile phones, and transformers for power
supplies.
[High-frequency components]
Sales of high-frequency components decreased year on year, reflecting
mainly falling sales for use in PCs.
[Other products]
Sales of other products were down year on year, with higher sensor and actuator
sales unable to offset lower sales due to the termination of some power supply products and falling
sales to the semiconductor and other manufacturing facilities markets.
(3) Recording devices
This sector has two product categories: HDD heads and other.
Sector sales decreased 15.6% from ¥246,830 million to ¥208,420 million (U.S.$2,290,330 thousand).
[HDD heads]
Sales decreased year on year. HDD head demand declined from the beginning of the third
quarter in tandem with softening demand for HDDs from the beginning of the third quarter. Falling
prices and the yens appreciation against the U.S. dollar also affected HDD head sales, although
HDD head sales volume increased year on year for the nine-month period.
[Other]
Category sales increased year on year, mainly because sales of an HDD suspension assembly
business that became a subsidiary in November 2007 contributed to period results for the first
time.
(4) Others
This sector includes all TDK products not included in the three sectors above. Sector sales
increased 18.9% from ¥99,681 million to ¥118,559 million (U.S.$1,302,846 thousand). This included
net sales of the EPCOS Group of ¥35,878 million. The main products in the others sector, excluding
products handled by the EPCOS Group, are recording media, anechoic chambers, mechatronics
(production equipment) and energy devices (rechargeable batteries). While sales of energy devices
rose, sales of recording media, anechoic chambers and mechatronics decreased.
3
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
(Overseas Sales)
Detailed sales by region can be found in the segment information on page 12.
[Japan]
Overall sales declined, with sales declining in all product sectors except electronic
materials.
[Americas]
Overall sales declined, with sales declining in all product sectors except recording
devices.
[Europe]
Overall sales rose. Sales declined in all product sectors except others, where the
inclusion of the EPCOS Group net sales lifted sales.
[Asia (excluding Japan) and other areas]
Overall sales declined, with sales decreasing in all
product sectors except others, where the inclusion of the EPCOS Groups net sales and higher sales
of other products lifted sales.
As a result, overseas sales declined 8.7% from ¥543,314 million to ¥496,026 million (U.S.$5,450,835
thousand). Overseas sales accounted for 84.3% of consolidated net sales, a 1.8 percentage point
increase from 82.5% one year earlier.
2. Summary Information Regarding Consolidated Financial Position
(2-1) The following table summarizes TDKs consolidated balance sheet as at December 31, 2008,
compared with March 31, 2008.
|
|
|
|
|
Total assets
|
|
¥1,136,248 million
|
|
(21.5% increase)
|
Total stockholders equity
|
|
¥635,443 million
|
|
(11.3% decrease)
|
Stockholders equity ratio
|
|
55.9%
|
|
(20.7 percentage point decrease)
|
At December 31, 2008, cash and cash equivalents were ¥11,102 million higher than at March 31, 2008.
Inventories were ¥39,243 million higher, net property, plant and equipment rose ¥88,732 million,
and other assets increased ¥72,844 million. In contrast, net trade receivables decreased ¥13,636
million and investments in securities declined ¥13,061 million. Overall, total assets increased by
¥200,715 million compared with March 31, 2008.
Total liabilities increased by ¥277,064 million compared with March 31, 2008, mainly reflecting
increases of ¥224,319 million in short-term debt, ¥17,179 million in current installments of
long-term debt and ¥7,011 million in long-term debt, excluding current installments. Retirement and
severance benefits also increased by ¥23,541 million. The increase in short-term debt was mainly
due to the procurement of funds for purchasing EPCOS AG shares.
Total stockholders equity decreased by ¥81,134 million compared with March 31, 2008 due mainly to
a ¥21,665 million decrease in retained earnings and a ¥61,026 million increase in accumulated other
comprehensive income (loss).
4
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
(2-2) Cash Flows
(¥ millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Fiscal 2008
3Q
|
|
|
Fiscal 2009
3Q
|
|
|
Change
|
|
|
Net cash provided by operating activities
|
|
|
|
69,071
|
|
|
|
|
51,472
|
|
|
|
|
(17,599
|
)
|
|
|
Net cash used in investing activities
|
|
|
|
(99,546
|
)
|
|
|
|
(220,766
|
)
|
|
|
|
(121,220
|
)
|
|
|
Net cash provided by (used in) financing
activities
|
|
|
|
(55,800
|
)
|
|
|
|
198,864
|
|
|
|
|
254,664
|
|
|
|
Effect of exchange rate changes on cash
and cash equivalents
|
|
|
|
(4,039
|
)
|
|
|
|
(18,468
|
)
|
|
|
|
(14,429
|
)
|
|
|
Net increase (decrease) in cash and cash
equivalents
|
|
|
|
(90,314
|
)
|
|
|
|
11,102
|
|
|
|
|
101,416
|
|
|
|
Cash and cash equivalents at beginning of
period
|
|
|
|
289,169
|
|
|
|
|
166,105
|
|
|
|
|
(123,064
|
)
|
|
|
Cash and cash equivalents at end of period
|
|
|
|
198,855
|
|
|
|
|
177,207
|
|
|
|
|
(21,648
|
)
|
|
|
Operating activities provided net cash of ¥51,472 million (U.S.$565,626 thousand), a year-on-year
decrease of ¥17,599 million. The main reason for this decrease was a net loss of ¥2,449 million
(U.S.$26,912 thousand) due to deteriorating market conditions and other factors. Depreciation and
amortization increased ¥10,493 million to ¥61,189 million (U.S.$672,407 thousand). In changes in
assets and liabilities, trade receivables decreased ¥53,171 million, inventories decreased ¥2,424
million, trade payables decreased ¥35,737 million and accrued expenses decreased ¥7,273 million.
Investing activities used net cash of ¥220,766 million (U.S.$2,426,000 thousand), ¥121,220 million
more year on year. Capital expenditures increased by ¥27,941 million, proceeds from sale and
maturity of short-term investments declined by ¥24,053 million and acquisition of subsidiaries
shares increased by ¥113,428 million. On the other hand, there was a ¥17,854 million decrease in
payment for purchase of short-term investments, a ¥3,310 million increase in proceeds from sale and
maturity of investments in securities, and a ¥7,187 million decrease in payment for purchase of
investments in securities.
Financing activities provided net cash of ¥198,864 million (U.S.$2,185,319 thousand), a ¥254,664
million change from the net cash used in the same period of the previous fiscal year. In the first
nine months of fiscal 2008, the Company used ¥39,247 million to acquire its treasury shares and
¥15,683 million to pay dividends, among other outflows that resulted in the use of net cash of
¥55,800 million. In the first nine months of fiscal 2009, on the other hand, there was a net
increase in short-term debt of ¥218,040 million mainly due to the procurement of funds to purchase
EPCOS AG shares, while ¥18,056 million was used to pay dividends.
5
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
3. Summary Information Regarding Consolidated Projections
[Fiscal 2009 Consolidated Projections]
TDKs projections for consolidated operating results, capital expenditures, depreciation and
amortization, and research and development expenses for fiscal 2009, the year ending March 31, 2009, are as follows.
[Consolidated Projections for Fiscal 2009]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
February 2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
January 2009
|
|
|
|
|
|
Announcement
|
|
|
FY2008
|
|
|
Change from
|
|
|
% change
|
|
|
Announcement
|
|
|
|
|
|
FY2009
|
|
|
(Actual)
|
|
|
FY2008
|
|
|
from
|
|
|
FY2009
|
|
|
|
|
|
(Forecasts)
|
|
|
(¥ millions)
|
|
|
(¥ millions)
|
|
|
FY2008
|
|
|
(Forecasts)
|
|
|
Item
|
|
|
(¥ millions)
|
|
|
|
|
|
|
|
|
|
|
|
(¥ millions)
|
|
|
Net sales
|
|
|
|
741,000
|
|
|
|
|
866,285
|
|
|
|
|
(125,285
|
)
|
|
|
|
-14.5
|
|
|
|
|
673,000
|
|
|
|
Operating income
|
|
|
|
(38,000
|
)
|
|
|
|
87,175
|
|
|
|
|
(125,175
|
)
|
|
|
|
|
|
|
|
|
(26,000
|
)
|
|
|
Income before
income taxes
|
|
|
|
(46,000
|
)
|
|
|
|
91,505
|
|
|
|
|
(137,505
|
)
|
|
|
|
|
|
|
|
|
(32,000
|
)
|
|
|
Net income
|
|
|
|
(42,000
|
)
|
|
|
|
71,461
|
|
|
|
|
(113,461
|
)
|
|
|
|
|
|
|
|
|
(28,000
|
)
|
|
|
[Projections for Capital Expenditures, Depreciation and Amortization, and Research and Development
Expenses]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(¥ millions)
|
|
|
Term
|
|
|
FY2009
|
|
|
FY2008
|
|
|
|
|
|
(Forecasts)
|
|
|
(Actual)
|
|
|
Item
|
|
|
Amount
|
|
|
% of sales
|
|
|
Amount
|
|
|
% of sales
|
|
|
Capital expenditures
|
|
|
|
95,000
|
|
|
|
|
|
|
|
|
|
84,312
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
83,000
|
|
|
|
|
11.2
|
|
|
|
|
71,297
|
|
|
|
|
8.2
|
|
|
|
Research and development expenses
|
|
|
|
57,000
|
|
|
|
|
7.7
|
|
|
|
|
57,387
|
|
|
|
|
6.6
|
|
|
|
(Notes)
The full-year projections announced on January 8, 2009 did not include the expected contribution to
results from the acquisition of the EPCOS Group. However, this expected contribution has been
factored into the latest projections above.
(Projections for main products are as follows:)
Electronic Materials and Electronic Devices
Looking at markets for electronic materials and electronic devices, supply-demand conditions are
worse than initially expected and are expected to remain so in the fourth quarter of fiscal 2009.
For these reasons, TDK has revised its sales plans assuming that severe price declines will
continue going forward and that the market for the full year will contract compared with the
previous fiscal year.
Recording Devices
Sales are forecast to decline on a volume basis year on year because demand conditions for HDDs
differ from initial assumptions. Accordingly, TDK has revised its sales plans assuming that sales
will track the fall in HDD head demand.
6
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
Others
The electronic components markets to which the EPCOS Group sells its products offer similar
prospects to markets for electronic materials and electronic devices. Consequently, difficult
supply-demand conditions are expected to continue in the fourth quarter.
(Exchange Rate Forecast)
An average yen-U.S. dollar exchange rate of ¥90 and an average yen-euro exchange rate of ¥120 are
assumed for the fourth quarter of fiscal 2009.
Cautionary Statements with Respect to Forward-Looking Statements
This material contains forward-looking statements, including projections, plans, policies,
management strategies, targets, schedules, understandings and evaluations, about TDK and its group
companies (TDK Group). These forward-looking statements are based on the current forecasts,
estimates, assumptions, plans, beliefs and evaluations of TDK Group in light of information
currently available to it, and contain known and unknown risks, uncertainties and other factors.
TDK Group therefore wishes to caution readers that, being subject to risks, uncertainties and other
factors, TDK Groups actual results, performance, achievements or financial position could be
materially different from any future results, performance, achievements or financial position
expressed or implied by these forward-looking statements, and TDK Group undertakes no obligation to
publicly update or revise any forward-looking statements after the issue of this material except as
provided for in applicable laws and ordinances.
The electronics markets in which TDK Group operates are highly susceptible to rapid changes.
Risks, uncertainties and other factors that can have significant effects on TDK Group include, but
are not limited to, shifts in technology, fluctuations in demand, prices, interest and foreign
exchange rates, and changes in economic environments, conditions of competition, laws and
regulations.
4. Others
(4-1) Fair Value Measurements
In September 2006, the FASB issued Statement of Financial Accounting Standards No. 157 (Fair Value
Measurements). SFAS 157 defines fair value, establishes a framework for measuring fair value, and
expands disclosures about fair value measurements. TDK adopted SFAS 157 on April 1, 2008. The
adoption of SFAS 157 has no material effect on TDKs consolidated financial position and results of
operations.
(4-2) Employers Accounting for Defined Benefit Pension and Other Postretirement Plans
In September 2006, the FASB issued Statement of Financial Accounting Standards No. 158 (SFAS
158), Employers Accounting for Defined Benefit Pension and Other Postretirement Plans an
amendment of FASB Statements No. 87, 88, 106 and 132(R). SFAS 158 requires TDK to measure the
fair value of plan assets and benefit obligations as of the date of its fiscal year-end. TDK
adopted SFAS 158 on April 1, 2008. TDK will change its measurement date in TDKs fiscal year 2009
annual closing.
7
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
5) Balance sheets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ASSETS
|
|
|
Term
|
|
|
As of December 31, 2008
|
|
|
As of March 31, 2008
|
|
|
Change from
|
|
|
As of Sep. 30, 2008
|
|
|
Change from
|
|
|
|
|
|
|
|
|
March 31, 2008
|
|
|
|
|
Sep. 30, 2008
|
|
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(U.S.$
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
Item
|
|
|
millions)
|
|
|
|
|
|
thousands)
|
|
|
millions)
|
|
|
|
|
|
millions)
|
|
|
millions)
|
|
|
|
|
|
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets
|
|
|
|
515,020
|
|
|
|
|
45.3
|
|
|
|
|
5,659,561
|
|
|
|
|
462,820
|
|
|
|
|
49.5
|
|
|
|
|
52,200
|
|
|
|
|
480,963
|
|
|
|
|
45.2
|
|
|
|
|
34,057
|
|
|
|
Cash and cash equivalents
|
|
|
|
177,207
|
|
|
|
|
|
|
|
|
|
1,947,330
|
|
|
|
|
166,105
|
|
|
|
|
|
|
|
|
|
11,102
|
|
|
|
|
173,617
|
|
|
|
|
|
|
|
|
|
3,590
|
|
|
|
Net trade receivables
|
|
|
|
143,482
|
|
|
|
|
|
|
|
|
|
1,576,725
|
|
|
|
|
157,118
|
|
|
|
|
|
|
|
|
|
(13,636
|
)
|
|
|
|
160,913
|
|
|
|
|
|
|
|
|
|
(17,431
|
)
|
|
|
Inventories
|
|
|
|
128,059
|
|
|
|
|
|
|
|
|
|
1,407,242
|
|
|
|
|
88,816
|
|
|
|
|
|
|
|
|
|
39,243
|
|
|
|
|
94,245
|
|
|
|
|
|
|
|
|
|
33,814
|
|
|
|
Other current assets
|
|
|
|
66,272
|
|
|
|
|
|
|
|
|
|
728,264
|
|
|
|
|
50,781
|
|
|
|
|
|
|
|
|
|
15,491
|
|
|
|
|
52,188
|
|
|
|
|
|
|
|
|
|
14,084
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncurrent assets
|
|
|
|
621,228
|
|
|
|
|
54.7
|
|
|
|
|
6,826,681
|
|
|
|
|
472,713
|
|
|
|
|
50.5
|
|
|
|
|
148,515
|
|
|
|
|
582,332
|
|
|
|
|
54.8
|
|
|
|
|
38,896
|
|
|
|
Investments in securities
|
|
|
|
55,653
|
|
|
|
|
|
|
|
|
|
611,571
|
|
|
|
|
68,714
|
|
|
|
|
|
|
|
|
|
(13,061
|
)
|
|
|
|
144,507
|
|
|
|
|
|
|
|
|
|
(88,854
|
)
|
|
|
Net property, plant and equipment
|
|
|
|
355,881
|
|
|
|
|
|
|
|
|
|
3,910,780
|
|
|
|
|
267,149
|
|
|
|
|
|
|
|
|
|
88,732
|
|
|
|
|
299,348
|
|
|
|
|
|
|
|
|
|
56,533
|
|
|
|
Other assets
|
|
|
|
209,694
|
|
|
|
|
|
|
|
|
|
2,304,330
|
|
|
|
|
136,850
|
|
|
|
|
|
|
|
|
|
72,844
|
|
|
|
|
138,477
|
|
|
|
|
|
|
|
|
|
71,217
|
|
|
|
TOTAL
|
|
|
|
1,136,248
|
|
|
|
|
100.0
|
|
|
|
|
12,486,242
|
|
|
|
|
935,533
|
|
|
|
|
100.0
|
|
|
|
|
200,715
|
|
|
|
|
1,063,295
|
|
|
|
|
100.0
|
|
|
|
|
72,953
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS EQUITY
|
|
|
Term
|
|
|
As of December 31, 2008
|
|
|
As of March 31, 2008
|
|
|
Change from
|
|
|
As of Sep. 30, 2008
|
|
|
Change from
|
|
|
|
|
|
|
|
|
March 31, 2008
|
|
|
|
|
Sep. 30, 2008
|
|
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(U.S.$
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
Item
|
|
|
millions)
|
|
|
|
|
|
thousands)
|
|
|
millions)
|
|
|
|
|
|
millions)
|
|
|
millions)
|
|
|
|
|
|
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities
|
|
|
|
407,280
|
|
|
|
|
35.8
|
|
|
|
|
4,475,605
|
|
|
|
|
161,961
|
|
|
|
|
17.3
|
|
|
|
|
245,319
|
|
|
|
|
278,502
|
|
|
|
|
26.2
|
|
|
|
|
128,778
|
|
|
|
Short-term debt
|
|
|
|
233,217
|
|
|
|
|
|
|
|
|
|
2,562,824
|
|
|
|
|
8,898
|
|
|
|
|
|
|
|
|
|
224,319
|
|
|
|
|
117,446
|
|
|
|
|
|
|
|
|
|
115,771
|
|
|
|
Current installments of long-term debt
|
|
|
|
17,473
|
|
|
|
|
|
|
|
|
|
192,011
|
|
|
|
|
294
|
|
|
|
|
|
|
|
|
|
17,179
|
|
|
|
|
200
|
|
|
|
|
|
|
|
|
|
17,273
|
|
|
|
Trade payables
|
|
|
|
70,833
|
|
|
|
|
|
|
|
|
|
778,385
|
|
|
|
|
76,391
|
|
|
|
|
|
|
|
|
|
(5,558
|
)
|
|
|
|
83,153
|
|
|
|
|
|
|
|
|
|
(12,320
|
)
|
|
|
Accrued expenses
|
|
|
|
71,581
|
|
|
|
|
|
|
|
|
|
786,605
|
|
|
|
|
63,834
|
|
|
|
|
|
|
|
|
|
7,747
|
|
|
|
|
68,205
|
|
|
|
|
|
|
|
|
|
3,376
|
|
|
|
Income taxes payables
|
|
|
|
2,532
|
|
|
|
|
|
|
|
|
|
27,824
|
|
|
|
|
7,660
|
|
|
|
|
|
|
|
|
|
(5,128
|
)
|
|
|
|
2,365
|
|
|
|
|
|
|
|
|
|
167
|
|
|
|
Other current liabilities
|
|
|
|
11,644
|
|
|
|
|
|
|
|
|
|
127,956
|
|
|
|
|
4,884
|
|
|
|
|
|
|
|
|
|
6,760
|
|
|
|
|
7,133
|
|
|
|
|
|
|
|
|
|
4,511
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noncurrent liabilities
|
|
|
|
85,056
|
|
|
|
|
7.5
|
|
|
|
|
934,681
|
|
|
|
|
53,311
|
|
|
|
|
5.7
|
|
|
|
|
31,745
|
|
|
|
|
53,072
|
|
|
|
|
5.0
|
|
|
|
|
31,984
|
|
|
|
Long-term debt,
excluding current installments
|
|
|
|
7,163
|
|
|
|
|
|
|
|
|
|
78,714
|
|
|
|
|
152
|
|
|
|
|
|
|
|
|
|
7,011
|
|
|
|
|
157
|
|
|
|
|
|
|
|
|
|
7,006
|
|
|
|
Retirement and severance benefits
|
|
|
|
57,531
|
|
|
|
|
|
|
|
|
|
632,209
|
|
|
|
|
33,990
|
|
|
|
|
|
|
|
|
|
23,541
|
|
|
|
|
34,254
|
|
|
|
|
|
|
|
|
|
23,277
|
|
|
|
Deferred income taxes
|
|
|
|
6,278
|
|
|
|
|
|
|
|
|
|
68,989
|
|
|
|
|
5,998
|
|
|
|
|
|
|
|
|
|
280
|
|
|
|
|
5,873
|
|
|
|
|
|
|
|
|
|
405
|
|
|
|
Other noncurrent liabilities
|
|
|
|
14,084
|
|
|
|
|
|
|
|
|
|
154,769
|
|
|
|
|
13,171
|
|
|
|
|
|
|
|
|
|
913
|
|
|
|
|
12,788
|
|
|
|
|
|
|
|
|
|
1,296
|
|
|
|
Total liabilities
|
|
|
|
492,336
|
|
|
|
|
43.3
|
|
|
|
|
5,410,286
|
|
|
|
|
215,272
|
|
|
|
|
23.0
|
|
|
|
|
277,064
|
|
|
|
|
331,574
|
|
|
|
|
31.2
|
|
|
|
|
160,762
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minority interests
|
|
|
|
8,469
|
|
|
|
|
0.8
|
|
|
|
|
93,066
|
|
|
|
|
3,684
|
|
|
|
|
0.4
|
|
|
|
|
4,785
|
|
|
|
|
3,532
|
|
|
|
|
0.3
|
|
|
|
|
4,937
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock
|
|
|
|
32,641
|
|
|
|
|
|
|
|
|
|
358,692
|
|
|
|
|
32,641
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
32,641
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Additional paid-in capital
|
|
|
|
64,172
|
|
|
|
|
|
|
|
|
|
705,187
|
|
|
|
|
63,887
|
|
|
|
|
|
|
|
|
|
285
|
|
|
|
|
64,113
|
|
|
|
|
|
|
|
|
|
59
|
|
|
|
Legal reserve
|
|
|
|
20,519
|
|
|
|
|
|
|
|
|
|
225,483
|
|
|
|
|
19,510
|
|
|
|
|
|
|
|
|
|
1,009
|
|
|
|
|
20,060
|
|
|
|
|
|
|
|
|
|
459
|
|
|
|
Retained earnings
|
|
|
|
667,054
|
|
|
|
|
|
|
|
|
|
7,330,264
|
|
|
|
|
688,719
|
|
|
|
|
|
|
|
|
|
(21,665
|
)
|
|
|
|
690,867
|
|
|
|
|
|
|
|
|
|
(23,813
|
)
|
|
|
Accumulated
other comprehensive income (loss)
|
|
|
|
(142,609
|
)
|
|
|
|
|
|
|
|
|
(1,567,132
|
)
|
|
|
|
(81,583
|
)
|
|
|
|
|
|
|
|
|
(61,026
|
)
|
|
|
|
(73,149
|
)
|
|
|
|
|
|
|
|
|
(69,460
|
)
|
|
|
Treasury stock
|
|
|
|
(6,334
|
)
|
|
|
|
|
|
|
|
|
(69,604
|
)
|
|
|
|
(6,597
|
)
|
|
|
|
|
|
|
|
|
263
|
|
|
|
|
(6,343
|
)
|
|
|
|
|
|
|
|
|
9
|
|
|
|
Total stockholders equity
|
|
|
|
635,443
|
|
|
|
|
55.9
|
|
|
|
|
6,982,890
|
|
|
|
|
716,577
|
|
|
|
|
76.6
|
|
|
|
|
(81,134
|
)
|
|
|
|
728,189
|
|
|
|
|
68.5
|
|
|
|
|
(92,746
|
)
|
|
|
TOTAL
|
|
|
|
1,136,248
|
|
|
|
|
100.0
|
|
|
|
|
12,486,242
|
|
|
|
|
935,533
|
|
|
|
|
100.0
|
|
|
|
|
200,715
|
|
|
|
|
1,063,295
|
|
|
|
|
100.0
|
|
|
|
|
72,953
|
|
|
|
Note:
U.S.$1=Yen 91, for convenience only.
8
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
6) Statements of income
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The
9-month-period
of FY2008
|
|
|
The
9-month-period
of FY2009
|
|
|
Change
|
|
|
|
|
|
(April 1, 2007 -
|
|
|
(April 1, 2008 -
|
|
|
|
|
|
|
|
Dec.
31, 2007)
|
|
|
December 31,
2008)
|
|
|
|
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(U.S.$
|
|
|
(Yen
|
|
|
Change(%)
|
|
|
Item
|
|
|
millions)
|
|
|
|
|
millions)
|
|
|
|
|
thousands)
|
|
|
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
|
|
658,430
|
|
|
|
|
100.0
|
|
|
|
|
588,316
|
|
|
|
|
100.0
|
|
|
|
|
6,465,011
|
|
|
|
|
(70,114
|
)
|
|
|
|
-10.6
|
|
|
|
Cost of sales
|
|
|
|
479,304
|
|
|
|
|
72.8
|
|
|
|
|
461,983
|
|
|
|
|
78.5
|
|
|
|
|
5,076,736
|
|
|
|
|
(17,321
|
)
|
|
|
|
-3.6
|
|
|
|
Gross profit
|
|
|
|
179,126
|
|
|
|
|
27.2
|
|
|
|
|
126,333
|
|
|
|
|
21.5
|
|
|
|
|
1,388,275
|
|
|
|
|
(52,793
|
)
|
|
|
|
-29.5
|
|
|
|
Selling, general and administrative expenses
|
|
|
|
120,186
|
|
|
|
|
18.3
|
|
|
|
|
113,454
|
|
|
|
|
19.3
|
|
|
|
|
1,246,747
|
|
|
|
|
(6,732
|
)
|
|
|
|
-5.6
|
|
|
|
Gain on
business transfer to Imation Corp.
|
|
|
|
(14,922
|
)
|
|
|
|
-2.3
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
14,922
|
|
|
|
|
|
|
|
|
Restructuring cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,607
|
|
|
|
|
0.6
|
|
|
|
|
39,638
|
|
|
|
|
3,607
|
|
|
|
|
|
|
|
|
Operating income
|
|
|
|
73,862
|
|
|
|
|
11.2
|
|
|
|
|
9,272
|
|
|
|
|
1.6
|
|
|
|
|
101,890
|
|
|
|
|
(64,590
|
)
|
|
|
|
-87.4
|
|
|
|
Other income (deductions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income
|
|
|
|
6,934
|
|
|
|
|
|
|
|
|
|
3,470
|
|
|
|
|
|
|
|
|
|
38,132
|
|
|
|
|
(3,464
|
)
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(101
|
)
|
|
|
|
|
|
|
|
|
(1,339
|
)
|
|
|
|
|
|
|
|
|
(14,714
|
)
|
|
|
|
(1,238
|
)
|
|
|
|
|
|
|
|
Loss (gain) on securities, net
|
|
|
|
(1,504
|
)
|
|
|
|
|
|
|
|
|
(6,293
|
)
|
|
|
|
|
|
|
|
|
(69,154
|
)
|
|
|
|
(4,789
|
)
|
|
|
|
|
|
|
|
Foreign exchange gain (loss)
|
|
|
|
(2,186
|
)
|
|
|
|
|
|
|
|
|
(6,293
|
)
|
|
|
|
|
|
|
|
|
(69,154
|
)
|
|
|
|
(4,107
|
)
|
|
|
|
|
|
|
|
Other-net
|
|
|
|
(3
|
)
|
|
|
|
|
|
|
|
|
880
|
|
|
|
|
|
|
|
|
|
9,670
|
|
|
|
|
883
|
|
|
|
|
|
|
|
|
Total other income (deductions)
|
|
|
|
3,140
|
|
|
|
|
0.5
|
|
|
|
|
(9,575
|
)
|
|
|
|
-1.7
|
|
|
|
|
(105,220
|
)
|
|
|
|
(12,715
|
)
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
|
77,002
|
|
|
|
|
11.7
|
|
|
|
|
(303
|
)
|
|
|
|
-0.1
|
|
|
|
|
(3,330
|
)
|
|
|
|
(77,305
|
)
|
|
|
|
|
|
|
|
Income taxes
|
|
|
|
20,398
|
|
|
|
|
3.1
|
|
|
|
|
2,571
|
|
|
|
|
0.4
|
|
|
|
|
28,252
|
|
|
|
|
(17,827
|
)
|
|
|
|
-87.4
|
|
|
|
Income (loss) before minority interests
|
|
|
|
56,604
|
|
|
|
|
8.6
|
|
|
|
|
(2,874
|
)
|
|
|
|
-0.5
|
|
|
|
|
(31,582
|
)
|
|
|
|
(59,478
|
)
|
|
|
|
|
|
|
|
Minority interests
|
|
|
|
265
|
|
|
|
|
0.0
|
|
|
|
|
(425
|
)
|
|
|
|
-0.1
|
|
|
|
|
(4,670
|
)
|
|
|
|
(690
|
)
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
56,339
|
|
|
|
|
8.6
|
|
|
|
|
(2,449
|
)
|
|
|
|
-0.4
|
|
|
|
|
(26,912
|
)
|
|
|
|
(58,788
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
[3rd quarter
results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
3Q of FY2008
|
|
|
3Q of FY2009
|
|
|
|
|
|
|
|
|
(Oct. 1, 2007 -
|
|
|
(October 1, 2008 -
|
|
|
Change
|
|
|
|
|
|
Dec. 31, 2007)
|
|
|
December 31, 2008)
|
|
|
|
|
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(Yen
|
|
|
|
%
|
|
|
|
(U.S.$
|
|
|
(Yen
|
|
|
Change(%)
|
|
|
Item
|
|
|
millions)
|
|
|
|
|
millions)
|
|
|
|
|
thousands)
|
|
|
millions)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net sales
|
|
|
|
225,342
|
|
|
|
|
100.0
|
|
|
|
|
191,779
|
|
|
|
|
100.0
|
|
|
|
|
2,107,462
|
|
|
|
|
(33,563
|
)
|
|
|
|
-14.9
|
|
|
|
Cost of sales
|
|
|
|
160,986
|
|
|
|
|
71.4
|
|
|
|
|
154,427
|
|
|
|
|
80.5
|
|
|
|
|
1,697,000
|
|
|
|
|
(6,559
|
)
|
|
|
|
-4.1
|
|
|
|
Gross profit
|
|
|
|
64,356
|
|
|
|
|
28.6
|
|
|
|
|
37,352
|
|
|
|
|
19.5
|
|
|
|
|
410,462
|
|
|
|
|
(27,004
|
)
|
|
|
|
-42.0
|
|
|
|
Selling, general and administrative expenses
|
|
|
|
37,639
|
|
|
|
|
16.7
|
|
|
|
|
38,854
|
|
|
|
|
20.3
|
|
|
|
|
426,967
|
|
|
|
|
1,215
|
|
|
|
|
3.2
|
|
|
|
Restructuring cost
|
|
|
|
|
|
|
|
|
|
|
|
|
|
3,607
|
|
|
|
|
1.9
|
|
|
|
|
39,638
|
|
|
|
|
3,607
|
|
|
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
26,717
|
|
|
|
|
11.9
|
|
|
|
|
(5,109
|
)
|
|
|
|
-2.7
|
|
|
|
|
(56,143
|
)
|
|
|
|
(31,826
|
)
|
|
|
|
|
|
|
|
Other income (deductions):
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income
|
|
|
|
2,190
|
|
|
|
|
|
|
|
|
|
1,293
|
|
|
|
|
|
|
|
|
|
14,209
|
|
|
|
|
(897
|
)
|
|
|
|
|
|
|
|
Interest expense
|
|
|
|
(30
|
)
|
|
|
|
|
|
|
|
|
(1,061
|
)
|
|
|
|
|
|
|
|
|
(11,660
|
)
|
|
|
|
(1,031
|
)
|
|
|
|
|
|
|
|
Loss (gain) on securities, net
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(5,251
|
)
|
|
|
|
|
|
|
|
|
(57,703
|
)
|
|
|
|
(5,251
|
)
|
|
|
|
|
|
|
|
Foreign exchange gain (loss)
|
|
|
|
(190
|
)
|
|
|
|
|
|
|
|
|
(4,535
|
)
|
|
|
|
|
|
|
|
|
(49,835
|
)
|
|
|
|
(4,345
|
)
|
|
|
|
|
|
|
|
Other-net
|
|
|
|
(47
|
)
|
|
|
|
|
|
|
|
|
(466
|
)
|
|
|
|
|
|
|
|
|
(5,121
|
)
|
|
|
|
(419
|
)
|
|
|
|
|
|
|
|
Total other income (deductions)
|
|
|
|
(1,923
|
)
|
|
|
|
0.8
|
|
|
|
|
(10,020
|
)
|
|
|
|
-5.2
|
|
|
|
|
(110,110
|
)
|
|
|
|
(11,943
|
)
|
|
|
|
|
|
|
|
Income (loss) before income taxes
|
|
|
|
28,640
|
|
|
|
|
12.7
|
|
|
|
|
(15,129
|
)
|
|
|
|
-7.9
|
|
|
|
|
(166,253
|
)
|
|
|
|
(43,769
|
)
|
|
|
|
|
|
|
|
Income taxes
|
|
|
|
7,025
|
|
|
|
|
3.1
|
|
|
|
|
(667
|
)
|
|
|
|
-0.3
|
|
|
|
|
(7,330
|
)
|
|
|
|
(7,692
|
)
|
|
|
|
|
|
|
|
Income (loss) before minority interests
|
|
|
|
21,615
|
|
|
|
|
9.6
|
|
|
|
|
(14,462
|
)
|
|
|
|
-7.6
|
|
|
|
|
(158,923
|
)
|
|
|
|
(36,077
|
)
|
|
|
|
|
|
|
|
Minority interests
|
|
|
|
(98
|
)
|
|
|
|
-0.0
|
|
|
|
|
(145
|
)
|
|
|
|
-0.1
|
|
|
|
|
(1,593
|
)
|
|
|
|
(47
|
)
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
21,713
|
|
|
|
|
9.6
|
|
|
|
|
(14,317
|
)
|
|
|
|
-7.5
|
|
|
|
|
(157,330
|
)
|
|
|
|
(36,030
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Note:
U.S.$1=Yen
91, for convenience only.
9
TDK Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
7)
Statements of cash flows
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The
9-month-period
|
|
|
The
9-month-period
|
|
|
|
|
|
of FY2008
|
|
|
of FY2009
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(April
1, 2007 -
Dec. 31, 2007)
|
|
|
(April
1, 2008 - December 31, 2008)
|
|
|
Item
|
|
|
(Yen millions)
|
|
|
(Yen millions)
|
|
|
(U.S.$ thousands)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss)
|
|
|
|
56,339
|
|
|
|
|
(2,449
|
)
|
|
|
|
(26,912
|
)
|
|
|
Adjustments
to reconcile net income (loss) to
net cash provided by operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Depreciation and amortization
|
|
|
|
50,696
|
|
|
|
|
61,189
|
|
|
|
|
672,407
|
|
|
|
Loss (gain)
on securities, net
|
|
|
|
1,504
|
|
|
|
|
6,293
|
|
|
|
|
69,154
|
|
|
|
Gain on business transfer to Imation Corp.
|
|
|
|
(14,922
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Changes in assets and liabilities,
net of effects of acquisition of businesses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Decrease (increase) in trade receivables
|
|
|
|
(24,186
|
)
|
|
|
|
28,985
|
|
|
|
|
318,516
|
|
|
|
Decrease (increase) in inventories
|
|
|
|
(14,481
|
)
|
|
|
|
(12,057
|
)
|
|
|
|
(132,494
|
)
|
|
|
Increase (decrease) in trade payables
|
|
|
|
19,886
|
|
|
|
|
(15,851
|
)
|
|
|
|
(174,187
|
)
|
|
|
Increase (decrease) in accrued expenses
|
|
|
|
1,607
|
|
|
|
|
(5,666
|
)
|
|
|
|
(62,264
|
)
|
|
|
Increase (decrease) in changes in other assets and liabilities, net
|
|
|
|
(4,638
|
)
|
|
|
|
(14,671
|
)
|
|
|
|
(161,220
|
)
|
|
|
Other-net
|
|
|
|
(2,734
|
)
|
|
|
|
5,699
|
|
|
|
|
62,626
|
|
|
|
Net cash provided by operating activities
|
|
|
|
69,071
|
|
|
|
|
51,472
|
|
|
|
|
565,626
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital expenditures
|
|
|
|
(58,842
|
)
|
|
|
|
(86,783
|
)
|
|
|
|
(953,659
|
)
|
|
|
Proceeds from sale and maturity of short-term investments
|
|
|
|
29,383
|
|
|
|
|
5,330
|
|
|
|
|
58,571
|
|
|
|
Payment for purchase of short-term investments
|
|
|
|
(31,219
|
)
|
|
|
|
(13,365
|
)
|
|
|
|
(146,868
|
)
|
|
|
Proceeds from sale and maturity of investments in securities
|
|
|
|
1,009
|
|
|
|
|
4,319
|
|
|
|
|
47,461
|
|
|
|
Payment for purchase of investments in securities
|
|
|
|
(8,013
|
)
|
|
|
|
(826
|
)
|
|
|
|
(9,077
|
)
|
|
|
Acquisition
of subsidiaries
|
|
|
|
(17,873
|
)
|
|
|
|
(131,301
|
)
|
|
|
|
(1,442,868
|
)
|
|
|
Acquisition
of affiliates
|
|
|
|
(2,026
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
Acquisition
of minority interests
|
|
|
|
(14,070
|
)
|
|
|
|
(166
|
)
|
|
|
|
(1,824
|
)
|
|
|
Other-net
|
|
|
|
2,105
|
|
|
|
|
2,026
|
|
|
|
|
22,264
|
|
|
|
Net cash used in investing activities
|
|
|
|
(99,546
|
)
|
|
|
|
(220,766
|
)
|
|
|
|
(2,426,000
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Repayment of long-term debt
|
|
|
|
(348
|
)
|
|
|
|
(1,590
|
)
|
|
|
|
(17,472
|
)
|
|
|
Increase (decrease) in short-term debt, net
|
|
|
|
(1,022
|
)
|
|
|
|
218,040
|
|
|
|
|
2,396,044
|
|
|
|
Cash paid to acquire treasury stock
|
|
|
|
(39,247
|
)
|
|
|
|
(13
|
)
|
|
|
|
(143
|
)
|
|
|
Dividends paid
|
|
|
|
(15,683
|
)
|
|
|
|
(18,056
|
)
|
|
|
|
(198,418
|
)
|
|
|
Other-net
|
|
|
|
500
|
|
|
|
|
483
|
|
|
|
|
5,308
|
|
|
|
Net cash provided by (used in) financing activities
|
|
|
|
(55,800
|
)
|
|
|
|
198,864
|
|
|
|
|
2,185,319
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Effect of exchange rate changes on cash and cash equivalents
|
|
|
|
(4,039
|
)
|
|
|
|
(18,468
|
)
|
|
|
|
(202,945
|
)
|
|
|
Net increase (decrease) in cash and cash equivalents
|
|
|
|
(90,314
|
)
|
|
|
|
11,102
|
|
|
|
|
122,000
|
|
|
|
Cash and cash equivalents at beginning of period
|
|
|
|
289,169
|
|
|
|
|
166,105
|
|
|
|
|
1,825,330
|
|
|
|
Cash and cash equivalents at end of period
|
|
|
|
198,855
|
|
|
|
|
177,207
|
|
|
|
|
1,947,330
|
|
|
Note:
U.S.$1=Yen
91, for convenience only.
10
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
8) Segment Information
1. Geographic segment information
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
|
|
|
The 9-month-period
|
|
|
The 9-month-period of FY2009
|
|
|
|
|
|
|
|
|
|
|
|
of FY2008
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(April 1, 2007 -
|
|
|
(April 1, 2008 -
|
|
|
Change
|
|
|
|
|
|
|
|
|
Dec. 31, 2007)
|
|
|
December 31, 2008)
|
|
|
|
|
|
|
|
|
Region
|
|
|
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Japan
|
|
|
Net sales
|
|
|
|
304,155
|
|
|
|
|
100.0
|
|
|
|
|
237,470
|
|
|
|
|
100.0
|
|
|
|
|
2,609,561
|
|
|
|
|
(66,685
|
)
|
|
|
|
-21.9
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
40,015
|
|
|
|
|
13.2
|
|
|
|
|
(14,467
|
)
|
|
|
|
-6.1
|
|
|
|
|
(158,978
|
)
|
|
|
|
(54,482
|
)
|
|
|
|
|
|
|
|
Americas
|
|
|
Net sales
|
|
|
|
82,256
|
|
|
|
|
100.0
|
|
|
|
|
68,766
|
|
|
|
|
100.0
|
|
|
|
|
755,670
|
|
|
|
|
(13,490
|
)
|
|
|
|
-16.4
|
|
|
|
|
|
Operating income
|
|
|
|
8,237
|
|
|
|
|
10.0
|
|
|
|
|
7,185
|
|
|
|
|
10.4
|
|
|
|
|
78,956
|
|
|
|
|
(1,052
|
)
|
|
|
|
-12.8
|
|
|
|
Europe
|
|
|
Net sales
|
|
|
|
43,097
|
|
|
|
|
100.0
|
|
|
|
|
66,123
|
|
|
|
|
100.0
|
|
|
|
|
726,626
|
|
|
|
|
23,026
|
|
|
|
|
53.4
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
(5,018
|
)
|
|
|
|
-11.6
|
|
|
|
|
(5,304
|
)
|
|
|
|
-8.0
|
|
|
|
|
(58,286
|
)
|
|
|
|
(286
|
)
|
|
|
|
|
|
|
|
Asia and
|
|
|
Net sales
|
|
|
|
482,911
|
|
|
|
|
100.0
|
|
|
|
|
445,729
|
|
|
|
|
100.0
|
|
|
|
|
4,898,121
|
|
|
|
|
(37,182
|
)
|
|
|
|
-7.7
|
|
|
|
others
|
|
|
Operating income
|
|
|
|
30,729
|
|
|
|
|
6.4
|
|
|
|
|
21,816
|
|
|
|
|
4.9
|
|
|
|
|
239,736
|
|
|
|
|
(8,913
|
)
|
|
|
|
-29.0
|
|
|
|
Intersegment
|
|
|
Net sales
|
|
|
|
253,989
|
|
|
|
|
|
|
|
|
|
229,772
|
|
|
|
|
|
|
|
|
|
2,524,967
|
|
|
|
|
(24,217
|
)
|
|
|
|
|
|
|
|
eliminations
|
|
|
Operating
income (loss)
|
|
|
|
101
|
|
|
|
|
|
|
|
|
|
(42
|
)
|
|
|
|
|
|
|
|
|
(462
|
)
|
|
|
|
(143
|
)
|
|
|
|
|
|
|
|
Total
|
|
|
Net sales
|
|
|
|
658,430
|
|
|
|
|
100.0
|
|
|
|
|
588,316
|
|
|
|
|
100.0
|
|
|
|
|
6,465,011
|
|
|
|
|
(70,114
|
)
|
|
|
|
-10.6
|
|
|
|
|
|
Operating income
|
|
|
|
73,862
|
|
|
|
|
11.2
|
|
|
|
|
9,272
|
|
|
|
|
1.6
|
|
|
|
|
101,890
|
|
|
|
|
(64,590
|
)
|
|
|
|
-87.4
|
|
|
|
|
|
[3rd quarter results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
|
|
|
3Q of FY2008
|
|
|
3Q of FY2009
|
|
|
|
|
|
|
|
|
|
|
|
(Oct. 1, 2007 -
|
|
|
(October 1, 2008 -
|
|
|
Change
|
|
|
|
|
|
|
|
|
Dec. 31, 2007)
|
|
|
December 31, 2008)
|
|
|
|
|
|
|
|
|
Region
|
|
|
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Japan
|
|
|
Net sales
|
|
|
|
102,895
|
|
|
|
|
100.0
|
|
|
|
|
69,042
|
|
|
|
|
100.0
|
|
|
|
|
758,703
|
|
|
|
|
(33,853
|
)
|
|
|
|
-32.9
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
9,758
|
|
|
|
|
9.5
|
|
|
|
|
(8,942
|
)
|
|
|
|
-13.0
|
|
|
|
|
(98,264
|
)
|
|
|
|
(18,700
|
)
|
|
|
|
|
|
|
|
Americas
|
|
|
Net sales
|
|
|
|
26,194
|
|
|
|
|
100.0
|
|
|
|
|
23,234
|
|
|
|
|
100.0
|
|
|
|
|
255,319
|
|
|
|
|
(2,960
|
)
|
|
|
|
-11.3
|
|
|
|
|
|
Operating income
|
|
|
|
2,953
|
|
|
|
|
11.3
|
|
|
|
|
1,406
|
|
|
|
|
6.1
|
|
|
|
|
15,451
|
|
|
|
|
(1,547
|
)
|
|
|
|
-52.4
|
|
|
|
Europe
|
|
|
Net sales
|
|
|
|
11,130
|
|
|
|
|
100.0
|
|
|
|
|
44,704
|
|
|
|
|
100.0
|
|
|
|
|
491,253
|
|
|
|
|
33,574
|
|
|
|
|
301.7
|
|
|
|
|
|
Operating income (loss)
|
|
|
|
(1,352
|
)
|
|
|
|
-12.1
|
|
|
|
|
(4,546
|
)
|
|
|
|
-10.2
|
|
|
|
|
(49,956
|
)
|
|
|
|
(3,194
|
)
|
|
|
|
|
|
|
|
Asia and
|
|
|
Net sales
|
|
|
|
170,188
|
|
|
|
|
100.0
|
|
|
|
|
144,325
|
|
|
|
|
100.0
|
|
|
|
|
1,585,989
|
|
|
|
|
(25,863
|
)
|
|
|
|
-15.2
|
|
|
|
others
|
|
|
Operating income
|
|
|
|
14,486
|
|
|
|
|
8.5
|
|
|
|
|
4,891
|
|
|
|
|
3.4
|
|
|
|
|
53,747
|
|
|
|
|
(9,595
|
)
|
|
|
|
-66.2
|
|
|
|
Intersegment
|
|
|
Net sales
|
|
|
|
85,065
|
|
|
|
|
|
|
|
|
|
89,526
|
|
|
|
|
|
|
|
|
|
983,802
|
|
|
|
|
4,461
|
|
|
|
|
|
|
|
|
eliminations
|
|
|
Operating
income (loss)
|
|
|
|
(872
|
)
|
|
|
|
|
|
|
|
|
(2,082
|
)
|
|
|
|
|
|
|
|
|
(22,879
|
)
|
|
|
|
(1,210
|
)
|
|
|
|
|
|
|
|
Total
|
|
|
Net sales
|
|
|
|
225,342
|
|
|
|
|
100.0
|
|
|
|
|
191,779
|
|
|
|
|
100.0
|
|
|
|
|
2,107,462
|
|
|
|
|
(33,563
|
)
|
|
|
|
-14.9
|
|
|
|
|
|
Operating
income (loss)
|
|
|
|
26,717
|
|
|
|
|
11.9
|
|
|
|
|
(5,109
|
)
|
|
|
|
-2.7
|
|
|
|
|
(56,143
|
)
|
|
|
|
(31,826
|
)
|
|
|
|
|
|
|
|
|
|
Notes:
1. Net sales in each geographic area are based on the location of TDK entities where the sales are generated.
2. U.S.$1=Yen 91, for convenience
only.
11
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
2.
Overseas Sales
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The 9-month-period
of FY2008
|
|
|
The 9-month-period of FY2009
|
|
|
Change
|
|
|
|
|
|
(April 1, 2007 -
|
|
|
(April 1, 2008 -
|
|
|
|
|
|
|
|
Dec. 31, 2007)
|
|
|
December 31, 2008)
|
|
|
|
|
Region
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Americas
|
|
|
|
75,073
|
|
|
|
|
11.4
|
|
|
|
|
65,262
|
|
|
|
|
11.1
|
|
|
|
|
717,165
|
|
|
|
|
(9,811
|
)
|
|
|
|
-13.1
|
|
|
|
Europe
|
|
|
|
46,225
|
|
|
|
|
7.0
|
|
|
|
|
49,716
|
|
|
|
|
8.4
|
|
|
|
|
546,330
|
|
|
|
|
3,491
|
|
|
|
|
7.6
|
|
|
|
Asia and others
|
|
|
|
422,016
|
|
|
|
|
64.1
|
|
|
|
|
381,048
|
|
|
|
|
64.8
|
|
|
|
|
4,187,340
|
|
|
|
|
(40,968
|
)
|
|
|
|
-9.7
|
|
|
|
Overseas sales total
|
|
|
|
543,314
|
|
|
|
|
82.5
|
|
|
|
|
496,026
|
|
|
|
|
84.3
|
|
|
|
|
5,450,835
|
|
|
|
|
(47,288
|
)
|
|
|
|
-8.7
|
|
|
|
Japan
|
|
|
|
115,116
|
|
|
|
|
17.5
|
|
|
|
|
92,290
|
|
|
|
|
15.7
|
|
|
|
|
1,014,176
|
|
|
|
|
(22,826
|
)
|
|
|
|
-19.8
|
|
|
|
Net sales
|
|
|
|
658,430
|
|
|
|
|
100.0
|
|
|
|
|
588,316
|
|
|
|
|
100.0
|
|
|
|
|
6,465,011
|
|
|
|
|
(70,114
|
)
|
|
|
|
-10.6
|
|
|
|
|
|
[3rd quarter results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
3Q of FY2008
|
|
|
3Q of FY2009
|
|
|
|
|
|
|
|
|
(Oct. 1, 2007 -
|
|
|
(October 1, 2008 -
|
|
|
Change
|
|
|
|
|
|
Dec. 31, 2007)
|
|
|
December 31, 2008)
|
|
|
|
|
|
|
|
|
Region
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(Yen millions)
|
|
|
%
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Americas
|
|
|
|
24,126
|
|
|
|
|
10.7
|
|
|
|
|
20,673
|
|
|
|
|
10.8
|
|
|
|
|
227,176
|
|
|
|
|
(3,453
|
)
|
|
|
|
-14.3
|
|
|
|
Europe
|
|
|
|
13,346
|
|
|
|
|
5.9
|
|
|
|
|
25,718
|
|
|
|
|
13.4
|
|
|
|
|
282,615
|
|
|
|
|
12,372
|
|
|
|
|
92.7
|
|
|
|
Asia and others
|
|
|
|
149,021
|
|
|
|
|
66.2
|
|
|
|
|
116,706
|
|
|
|
|
60.8
|
|
|
|
|
1,282,484
|
|
|
|
|
(32,315
|
)
|
|
|
|
-21.7
|
|
|
|
Overseas sales total
|
|
|
|
186,493
|
|
|
|
|
82.8
|
|
|
|
|
163,097
|
|
|
|
|
85.0
|
|
|
|
|
1,792,275
|
|
|
|
|
(23,396
|
)
|
|
|
|
-12.5
|
|
|
|
Japan
|
|
|
|
38,849
|
|
|
|
|
17.2
|
|
|
|
|
28,682
|
|
|
|
|
15.0
|
|
|
|
|
315,187
|
|
|
|
|
(10,167
|
)
|
|
|
|
-26.2
|
|
|
|
Net sales
|
|
|
|
225,342
|
|
|
|
|
100.0
|
|
|
|
|
191,779
|
|
|
|
|
100.0
|
|
|
|
|
2,107,462
|
|
|
|
|
(33,563
|
)
|
|
|
|
-14.9
|
|
|
|
|
|
Notes:
1. Overseas sales are based on the location of the customers.
2. U.S.$1=Yen 91, for convenience only.
12
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
9) Subsequent Events
1. Issue of Straight Bonds
|
|
TDK has issued Straight Bonds under the following conditions.
|
|
|
|
|
|
|
|
|
|
|
The 2nd Series
|
|
The 3rd Series
|
|
The 4th Series
|
|
|
|
Unsecured Straight Bonds
|
|
Unsecured Straight Bonds
|
|
Unsecured Straight Bonds
|
|
(1)Date of issue
|
|
January 30, 2009
|
(2)Total amount of bond issuance
|
|
23.0 billion yen
|
|
48.0 billion yen
|
|
13.0 billion yen
|
|
(3)Issue price
|
|
100 yen per face value of 100 yen
|
(4)Coupon rate
|
|
1.085% per annum
|
|
1.413% per annum
|
|
2.038% per annum
|
|
(5)Redemption on maturity
|
|
January 30, 2012
|
|
January 30, 2014
|
|
January 30, 2019
|
|
(6)Purpose for funds
|
|
Repayment of borrowing
|
2. Premature redemption of EPCOS AG s convertible bond
|
|
EPCOS AG, which became a consolidated subsidiary of TDK, serves as guarantor for a convertible bond with a
total value of EUR 126.4 million issued on July 16, 2003, by its subsidiary EPCOS Netherlands B.V. and
contractually due to mature in 2010.
|
|
|
|
Bonds worth
EUR 4.0 million were converted into EPCOS AG shares, and
bonds worth EUR 121.0 million were opted for premature
redemption and the payment was made on January 8th 2009.
Thereafter, the issuer of the bond redeemed the outstanding amount of
the convertible bond worth EUR 1.4 million on
January 28th, 2009. It was financed via a syndicated loan.
|
13
TDK
Corporation Consolidated 3Q of FY March 2009(U.S. GAAP)
10) Supplementary Information (Consolidated)
Exchange rates used for conversion
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
As
of Dec. 31, 2007
|
|
|
As
of Dec. 31, 2008
|
|
|
|
|
|
Item
|
|
|
US$=Yen
|
|
|
Euro=Yen
|
|
|
US$=Yen
|
|
|
Euro=Yen
|
|
|
|
|
|
|
|
|
The end of the period
|
|
|
|
114.15
|
|
|
|
|
166.66
|
|
|
|
|
91.03
|
|
|
|
|
127.96
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales breakdown
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The 9-month-period
of FY2008
|
|
|
The 9-month-period of FY2009
|
|
|
Change
|
|
|
|
|
|
(April
1, 2007 - Dec. 31, 2007)
|
|
|
(April
1, 2008 - Dec. 31, 2008)
|
|
|
|
|
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
|
|
|
|
|
|
Product
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Electronic materials
|
|
|
|
154,187
|
|
|
|
|
23.4
|
|
|
|
|
124,210
|
|
|
|
|
21.1
|
|
|
|
|
1,364,945
|
|
|
|
|
(29,977
|
)
|
|
|
|
-19.4
|
|
|
|
Electronic devices
|
|
|
|
157,732
|
|
|
|
|
24.0
|
|
|
|
|
137,127
|
|
|
|
|
23.3
|
|
|
|
|
1,506,890
|
|
|
|
|
(20,605
|
)
|
|
|
|
-13.1
|
|
|
|
Recording devices
|
|
|
|
246,830
|
|
|
|
|
37.5
|
|
|
|
|
208,420
|
|
|
|
|
35.4
|
|
|
|
|
2,290,330
|
|
|
|
|
(38,410
|
)
|
|
|
|
-15.6
|
|
|
|
Others
|
|
|
|
99,681
|
|
|
|
|
15.1
|
|
|
|
|
118,559
|
|
|
|
|
20.2
|
|
|
|
|
1,302,846
|
|
|
|
|
18,878
|
|
|
|
|
18.9
|
|
|
|
Total sales
|
|
|
|
658,430
|
|
|
|
|
100.0
|
|
|
|
|
588,316
|
|
|
|
|
100.0
|
|
|
|
|
6,465,011
|
|
|
|
|
(70,114
|
)
|
|
|
|
-10.6
|
|
|
|
Overseas sales
|
|
|
|
543,314
|
|
|
|
|
82.5
|
|
|
|
|
496,026
|
|
|
|
|
84.3
|
|
|
|
|
5,450,835
|
|
|
|
|
(47,288
|
)
|
|
|
|
-8.7
|
|
|
|
|
|
[3rd
quarter results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
3Q of FY2008
|
|
|
3Q of FY2009
|
|
|
Change
|
|
|
|
|
|
(Oct. 1, 2007 - Dec. 31, 2007)
|
|
|
(Oct. 1, 2008 - Dec. 31, 2008)
|
|
|
|
|
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
|
|
|
|
|
|
Product
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(U.S.$ thousands)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Electronic materials
|
|
|
|
51,421
|
|
|
|
|
22.8
|
|
|
|
|
32,022
|
|
|
|
|
16.7
|
|
|
|
|
351,890
|
|
|
|
|
(19,399
|
)
|
|
|
|
-37.7
|
|
|
|
Electronic devices
|
|
|
|
53,296
|
|
|
|
|
23.6
|
|
|
|
|
38,399
|
|
|
|
|
20.0
|
|
|
|
|
421,967
|
|
|
|
|
(14,897
|
)
|
|
|
|
-28.0
|
|
|
|
Recording devices
|
|
|
|
89,910
|
|
|
|
|
39.9
|
|
|
|
|
58,351
|
|
|
|
|
30.4
|
|
|
|
|
641,220
|
|
|
|
|
(31,559
|
)
|
|
|
|
-35.1
|
|
|
|
Others
|
|
|
|
30,715
|
|
|
|
|
13.7
|
|
|
|
|
63,007
|
|
|
|
|
32.9
|
|
|
|
|
692,385
|
|
|
|
|
32,292
|
|
|
|
|
105.1
|
|
|
|
Total sales
|
|
|
|
225,342
|
|
|
|
|
100.0
|
|
|
|
|
191,779
|
|
|
|
|
100.0
|
|
|
|
|
2,107,462
|
|
|
|
|
(33,563
|
)
|
|
|
|
-14.9
|
|
|
|
Overseas sales
|
|
|
|
186,493
|
|
|
|
|
82.8
|
|
|
|
|
163,097
|
|
|
|
|
85.0
|
|
|
|
|
1,792,275
|
|
|
|
|
(23,396
|
)
|
|
|
|
-12.5
|
|
|
|
|
|
Notes:
1. Recording media results are now included in the others sector.
2. U.S.$1=Yen 91,
for convenience only.
Overseas sales by division
[9-month-period results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
The 9-month-period
|
|
|
The 9-month-period
|
|
|
Change
|
|
|
|
|
|
of FY2008
|
|
|
of FY2009
|
|
|
|
|
|
|
|
(April
1, 2007 - Dec. 31, 2007)
|
|
|
(April
1, 2008 - Dec. 31, 2008)
|
|
|
|
|
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
Ratio to
|
|
|
|
|
|
|
|
|
Product
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Electronic materials
|
|
|
|
116,799
|
|
|
|
|
17.7
|
|
|
|
|
92,404
|
|
|
|
|
15.7
|
|
|
|
|
(24,395
|
)
|
|
|
|
-20.9
|
|
|
|
Electronic devices
|
|
|
|
106,605
|
|
|
|
|
16.2
|
|
|
|
|
93,270
|
|
|
|
|
15.9
|
|
|
|
|
(13,335
|
)
|
|
|
|
-12.5
|
|
|
|
Recording devices
|
|
|
|
243,867
|
|
|
|
|
37.0
|
|
|
|
|
206,081
|
|
|
|
|
35.0
|
|
|
|
|
(37,786
|
)
|
|
|
|
-15.5
|
|
|
|
Others
|
|
|
|
76,043
|
|
|
|
|
11.6
|
|
|
|
|
104,271
|
|
|
|
|
17.7
|
|
|
|
|
28,228
|
|
|
|
|
37.1
|
|
|
|
Overseas sales
|
|
|
|
543,314
|
|
|
|
|
82.5
|
|
|
|
|
496,026
|
|
|
|
|
84.3
|
|
|
|
|
(47,288
|
)
|
|
|
|
-8.7
|
|
|
|
|
|
[3rd quarter results]
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Term
|
|
|
3Q of FY2008
|
|
|
3Q of FY2009
|
|
|
Change
|
|
|
|
|
|
(Oct.
1, 2007 - Dec. 31, 2007)
|
|
|
(Oct.
1, 2008 - Dec. 31, 2008)
|
|
|
|
|
|
|
|
Amount
|
|
|
Ratio to
|
|
|
Amount
|
|
|
Ratio to
|
|
|
|
|
|
|
|
|
Product
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
sales (%)
|
|
|
(Yen millions)
|
|
|
Change(%)
|
|
|
Electronic materials
|
|
|
|
38,710
|
|
|
|
|
17.2
|
|
|
|
|
23,079
|
|
|
|
|
12.0
|
|
|
|
|
(15,631
|
)
|
|
|
|
-40.4
|
|
|
|
Electronic devices
|
|
|
|
35,574
|
|
|
|
|
15.8
|
|
|
|
|
24,212
|
|
|
|
|
12.6
|
|
|
|
|
(11,362
|
)
|
|
|
|
-31.9
|
|
|
|
Recording devices
|
|
|
|
88,760
|
|
|
|
|
39.4
|
|
|
|
|
57,369
|
|
|
|
|
29.9
|
|
|
|
|
(31,391
|
)
|
|
|
|
-35.4
|
|
|
|
Others
|
|
|
|
23,449
|
|
|
|
|
10.4
|
|
|
|
|
58,437
|
|
|
|
|
30.5
|
|
|
|
|
34,988
|
|
|
|
|
149.2
|
|
|
|
Overseas sales
|
|
|
|
186,493
|
|
|
|
|
82.8
|
|
|
|
|
163,097
|
|
|
|
|
85.0
|
|
|
|
|
(23,396
|
)
|
|
|
|
-12.5
|
|
|
|
|
|
Note:
Recording media results are now included in the others sector.
Company group
As of December 31, 2008, TDK had 135 subsidiaries (19 in Japan and 116 overseas).
TDK also had 7 affiliates (4 in Japan and 3 overseas) whose financial statements are accounted for by the equity method.
14
T D K (NYSE:TDK)
Historical Stock Chart
From Jul 2024 to Aug 2024
T D K (NYSE:TDK)
Historical Stock Chart
From Aug 2023 to Aug 2024