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TDK Q1 Profit More Than Doubles On Strong Sales; Maintains FY View

(RTTNews) - TDK Corp. (TTDKF.PK, TTDKY.PK), a Japanese manufacturer of passive components and magnetic application products, reported Wednesday that its first-quarter net income attributable to the company climbed 102.1 percent to 26.67 billion Japanese yen or $240.23 million from 13.19 billion yen a year ago.

Earnings per share were 210.57 yen or $1.90, up from 104.22 yen a year ago.

Operating income for the quarter grew 67.2 percent to 30.83 billion yen or $277.78 million, from 18.44 billion yen in the previous year.

Net sales climbed 35.8 percent to 420.06 billion yen or $3.78 billion from 309.39 billion yen in the previous year.

Looking ahead for fiscal 2022, the company continues to expect attributable net income of 100 billion yen, operating income of 150 billion yen and net sales of 1.60 trillion yen.
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