TDK Corporation, The Current Fiscal Year Net Income Revised Upward by 25%, Highest in Eight Terms

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Fri Nov 1, 2024 2:30 pm JST Earnings

6762 TDK Corporation 【IFRS】

Earnings Report

TDK Corporation <6762> [TSE-P] announced its financial results (based on IFRS) in the afternoon session on November 1st (14:30). The consolidated net income for the cumulative second quarter of the fiscal year ending March 2025 (April to September) expanded to 105 billion yen, an increase of 95.1% compared to the same period last year.

In addition, the full-year consolidated net income has been revised upward by 25.0%, from the previous forecast of 128 billion yen to 160 billion yen (compared to 124 billion yen in the previous period), increasing the growth rate from 2.7% to 28.3%, reaches new record high for the first time in eight terms.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated net income for the October to March period (second half) is expected to decrease by 23.0% from the same period last year to 54.2 billion yen.

In light of the strong performance, the company has increased its planned annual dividend for the current fiscal year from the original plan of 72 yen to 84 yen (compared to 116 yen before the 1-to-5 stock split in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated net income grew by 16.8% from the same period last year, reaching 46 billion yen. The operating profit margin rose from 10.6% in the same period last year to 13.2%.

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Actual Results

Accumulated Results 2nd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Sep, 2022	1,121,993	120,309	119,875	86,951	45.9	71.7	Nov 1, 2022	IFRS
Apr - Sep, 2023	1,059,711	85,548	80,242	54,188	28.6	44.8	Nov 1, 2023	IFRS
Apr - Sep, 2024	1,089,501	133,302	137,304	105,710	55.7	60.5	Nov 1, 2024	IFRS
YoY	+2.8%	+55.8%	+71.1%	+95.1%	+95.0%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2024 Guidance	ー	ー	ー	ー	－	12	Apr 26, 2024	IFRS
Apr - Sep, 2024 Results	1,089,501	133,302	137,304	105,710	55.7	14	Nov 1, 2024	IFRS
Revision Rate	－	－	－	－	－

Guidance Update

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	2,105,000	180,000	184,000	128,000	67.5	24	Apr 26, 2024	IFRS
Mar, 2025 New	2,120,000	220,000	227,000	160,000	84.3	28	Nov 1, 2024	IFRS
Revision Rate	+0.7%	+22.2%	+23.4%	+25.0%	+25.0%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2023	1,044,165	87,345	98,999	70,499	37.2	11.60	Apr 26, 2024	IFRS
Oct - Mar, 2024 Guidance	1,030,499	86,698	89,696	54,290	28.6	14	Nov 1, 2024	IFRS
YoY	-1.3%	-0.7%	-9.4%	-23.0%	-23.0%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2023	2,180,817	168,827	167,219	114,187	60.2	21.20	Apr 28, 2023	IFRS
Mar, 2024	2,103,876	172,893	179,241	124,687	65.7	23.20	Apr 26, 2024	IFRS
Mar, 2025 Guidance	2,120,000	220,000	227,000	160,000	84.3	28	Nov 1, 2024	IFRS
YoY	+0.8%	+27.2%	+26.6%	+28.3%	+28.3%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2023	556,312	59,246	59,230	39,463	20.8	10.6	Nov 1, 2023	IFRS
Oct - Dec, 2023	559,250	70,200	76,880	65,303	34.4	12.6	Jan 31, 2024	IFRS
Jan - Mar, 2024	484,915	17,145	22,119	5,196	2.7	3.5	Apr 26, 2024	IFRS
Apr - Jun, 2024	518,809	57,872	69,563	59,627	31.4	11.2	Jul 30, 2024	IFRS
Jul - Sep, 2024	570,692	75,430	67,741	46,083	24.3	13.2	Nov 1, 2024	IFRS
YoY	+2.6%	+27.3%	+14.4%	+16.8%	+16.7%