TDK Corporation Provides Dividend Guidance for the Year Ending March 31, 2016; Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015; Provides Earnings Guidance for the Year Ending March 31, 2016
January 29, 2016 at 10:00 am
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TDK Corporation provided dividend guidance for the year ending March 31, 2016. For the year ending March 31, 2016, the company expected dividend of JPY 60.00 per share against JPY 50.00 per share paid for the period a year ago.
The company reported consolidated earnings results for the third quarter and nine months ended December 31, 2015. For the quarter, the company reported net sales of JPY 301,728 million against JPY 300,377 million a year ago. Operating income was JPY 30,297 million against JPY 25,182 million a year ago. Income before income taxes was JPY 29,854 million against JPY 22,241 million a year ago. Net income attributable to the company was JPY 24,945 million or JPY 189.55 per diluted share against JPY 16,396 million or JPY 124.94 per diluted share a year ago. Capital expenditures were JPY 42,317 million against JPY 27,802 million a year ago. The reason of the JPY 5.1 billion increase of profit will be coming from the sales increase of JPY 15.1 billion, factors coming from the operating -- operation rate and the product mix.
For the nine months, the company reported net sales of JPY 889,342 million against JPY 802,652 million a year ago. Operating income was JPY 75,872 million against JPY 53,104 million a year ago. Income before income taxes was JPY 73,936 million against JPY 49,597 million a year ago. Net income attributable to the company was JPY 56,414 million or JPY 429.05 per diluted share against JPY 34,536 million or JPY 265.25 per diluted share a year ago. Capital expenditures were JPY 114,799 million against JPY 70,604 million a year ago. Net cash provided by operating activities was JPY 117,528 million against JPY 89,316 million a year ago.
For the year ending March 31, 2016, the company expects operating income of JPY 95,000 million, income before income taxes of JPY 95,000 million and net income attributable to the company of JPY 65,000 million. The company expects net sales of JPY 1,180,000 million, capital expenditures of JPY 150,000 million and depreciation and amortization JPY 86,000 million. In terms of CapEx, the company has been forecasting JPY 130 billion. But in line with the sales expansion in the smartphone market and been front-loading CapEx in the high-frequency components, which is growing very rapidly, overall, the company is going to revise it up by JPY 20 billion. The company is going to revise depreciation down by JPY 4 billion to JPY 86 billion against initially projected JPY 90 billion.
TDK Corporation specialises in the design, manufacture and sales of electronic products and recording equipment. Net sales break down by family product as follows:
- rechargeable batteries and energy converters (46.9%);
- electronic equipment and components (33.1%): ceramic capacitors, ferrites, magnets, inductors, high-frequency components, transformers, converters, thermistors, etc.;
- recording equipment (13.5%): recording appliances (notably magnetic heads for hard disks, heads for disk drives and thermal printer heads), recording equipment (audio and video cassettes, optical disks, computer data storage tapes, PC cards, etc.);
- other (3.5%): rechargeable batteries, memory cards, displays and mechatronic equipment.
Net sales break down geographically as follows: Japan (8%), China (56.8%), Asia (18.7%), Europe (10%) and Americas (6.5%).
TDK Corporation Provides Dividend Guidance for the Year Ending March 31, 2016; Reports Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2015; Provides Earnings Guidance for the Year Ending March 31, 2016
TDK CORPORATION 
