TDK Corporation
1-13-1, Nihonbashi
Chuo-ku, Tokyo
103-8272 Japan
Contacts;
TDK Corporation(Tokyo)
Corporate Communications Department
+81(3)5201-7102
Michinori Katayama
TDK U.S.A. Corporation
Francis J. Sweeney
+1(516)535-2600
TDK UK Limited
Ron Matier
+44(1737)773773
FOR IMMEDIATE RELEASE
TOKYO - October 31, 2002 TDK Corporation today announced its consolidated business results
prepared in conformity with accounting principles generally accepted in the United States of
America for the first half of fiscal year (FY) 2003 and the 2nd quarter (Qtr.) and nonconsolidated
business results for the first half of FY 2003.
1) Summary
Consolidated results (April 1, 2002 - September 30, 2002)
Term
Items
Net sales
Operating income (loss)
Income (loss) before
income taxes
Net income
Net income per
common share
The first half of FY2002
The first half of FY2003
Change
(April 1, 2001 - Sep. 30, 2001)
(April 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands) (Yen millions)
% (Yen millions)
%
296,380
10,019
100.0
3.4
2,409,593
81,455
270,786
(2,811)
100.0
-1.0
25,594
12,830
9.5
-
7,636
4,645
2.6
1.6
62,081
37,764
(3,082)
1,832
-1.1
0.7
10,718
2,813
153.5
Yen 34.98
U.S.$ 0.28
Yen 13.78
(Sales breakdown)
Term
Products
Electronic materials
and components
Electronic materials
Electronic devices
Recording devices
Semiconductors
& others
Recording media
& systems
Total sales
Overseas sales
The first half of FY2002
The first half of FY2003
Change
(April 1, 2001 - Sep. 30, 2001)
(April 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands) (Yen millions)
% (Yen millions)
%
234,272
88,918
59,293
78,173
79.0
30.0
20.0
26.4
1,904,650
722,910
482,057
635,553
209,607
81,367
54,264
64,022
77.4
30.1
20.0
23.6
24,665
7,551
5,029
14,151
11.8
9.3
9.3
22.1
7,888
2.6
64,130
9,954
3.7
(2,066)
-20.8
62,108
296,380
212,091
21.0
100.0
71.6
504,943
2,409,593
1,724,317
61,179
270,786
185,616
22.6
100.0
68.5
929
25,594
26,475
1.5
9.5
14.3
Notes:
1. The figures for net income per common share are calculated based upon the weighted average number of
shares of common stock (the total outstanding number).
2. TDK adopted the Emerging Issues Task Force Issue 01-9 ("EITF 01-9"), "Accounting for Consideration Given by
a Vendor to a Customer (Including a Reseller of the Vendor's Products)" from the fiscal year beginning April 1,
2002 and the prior year's consolidated financial statements have been restated for the change, accordingly.
3. U.S.$1=Yen 123
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NON-CONSOLIDATED
Non-Consolidated results (April 1, 2002 - September 30, 2002)
Term
Items
The first half of FY2002
The first half of FY2003
Change
(April 1, 2001 - Sep. 30, 2001)
(April 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands) (Yen millions)
% (Yen millions)
%
100.0
Net sales
167,260
100.0 1,359,837
164,023
3,237
2.0
-0.2
3,480
2.1
28,292
(319)
3,799
Operating income (loss)
8.5
(7,033) -50.3
6,937
4.1
56,398
13,970
Current income
5.9
(8,696) -89.2
1,056
0.6
8,585
9,752
Net income
Net income per
Yen 73.22
Yen 7.96
U.S.$ 0.06
common share
Yen
25.00
U.S.$
0.20
Yen 30.00
Dividends per share
Notes:
1. The figures for net income per common share are calculated based upon the weighted average
number of shares of common stock (the total outstanding number).
2. The figure for net income per common share is calculated excluding treasury stock from FY2003.
3. U.S.$1=Yen 123
(Sales breakdown)
Term
Products
Electronic materials
and components
Electronic materials
Electronic devices
Recording devices
Semiconductors
& others
Recording media
& systems
Total sales
Overseas sales
The first half of FY2003
The first half of FY2002
Change
(April 1, 2001 - Sep. 30, 2001)
(April 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands) (Yen millions)
% (Yen millions)
%
146,384
70,620
45,694
24,055
87.5
42.2
27.3
14.4
1,190,113
574,146
371,495
195,569
140,647
64,624
39,835
26,486
85.7
39.4
24.3
16.1
5,737
5,996
5,859
(2,431)
4.1
9.3
14.7
-9.2
6,013
3.6
48,886
9,700
5.9
(3,687)
-38.0
20,876
167,260
90,622
12.5
100.0
54.2
169,723
1,359,837
736,764
23,376
164,023
82,183
14.3
100.0
50.1
(2,500)
3,237
8,439
-10.7
2.0
10.3
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CONSOLIDATED
2nd Qtr. consolidated results
Consolidated results (July 1, 2002 - September 30, 2002)
Term
The 2nd Qtr. of FY2003
(July 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands)
Items
Net sales
Operating income (loss)
Income (loss) before
income taxes
Net income
Net income per
common share
The 2nd Qtr. of FY2002
(July 1, 2001 - Sep. 30, 2001)
(Yen millions)
147,672
4,033
100.0
2.7
1,200,585
32,789
130,542
(5,400)
4,333
2,484
2.9
1.7
35,228
20,195
(5,646)
625
Yen 18.71
U.S.$ 0.15
Change
% (Yen millions)
100.0
17,130
-4.1
9,433
-4.3
0.5
9,979
1,859
%
13.1
297.4
Yen 4.71
(Sales breakdown)
Term
Products
Electronic materials
and components
Electronic materials
Electronic devices
Recording devices
Semiconductors
& others
Recording media
& systems
Total sales
Overseas sales
The 2nd Qtr. of FY2003
(July 1, 2002 - Sep. 30, 2002)
(Yen millions)
% (U.S.$ thousands)
The 2nd Qtr. of FY2002
(July 1, 2001 - Sep. 30, 2001)
(Yen millions)
%
Change
(Yen millions)
%
116,102
43,058
29,449
39,832
78.6
29.2
19.9
27.0
943,918
350,065
239,423
323,837
99,286
37,467
25,714
31,188
76.1
28.7
19.7
23.9
16,816
5,591
3,735
8,644
16.9
14.9
14.5
27.7
3,763
2.5
30,593
4,917
3.8
(1,154)
-23.5
31,570
147,672
105,900
21.4
100.0
71.7
256,667
1,200,585
860,976
31,256
130,542
88,871
23.9
100.0
68.1
314
17,130
17,029
1.0
13.1
19.2
Notes:
1. The figures for net income per common share are calculated based upon the weighted average number of
shares of common stock (the total outstanding number).
2. TDK adopted the Emerging Issues Task Force Issue 01-9 ("EITF 01-9"), "Accounting for Consideration Given by
a Vendor to a Customer (Including a Reseller of the Vendor's Products)" from the fiscal year beginning April 1,
2002 and the prior year's consolidated financial statements have been restated for the change, accordingly.
3. U.S.$1=Yen 123
3/24