TDK Expects Robust Revenue Growth on Passive Components, Sensors, and Batteries; Shares Undervalued
TDK’s new operating income guidance for fiscal 2019 (financial year ending March 2019) is JPY 100 billion, expecting 17% increase from the previous year. While the number is below our forecast of JPY 115 billion, we consider that the difference is owing to the conservative assumptions made by the management, including the foreign exchange rate. Meanwhile, we believe that TDK’s plan to spend JPY 210 billion for this fiscal year, which is 16% of the revenue and the largest number throughout its hi...TDK is a manufacturer of recording media, ferrite products and recording device products, and a producer of inductor, ceramic capacitor, magnet, HDD head and other components. Co.'s principal business segments are passive components, sensor application products, magnetic application products, film application products and others. Co.'s principal products include ceramic capacitors, aluminum electrolytic capacitors, film capacitors, inductive devices, high-frequency components, piezoelectric materials and circuit protection components, sensors, HDD head suspension, recording devices, power supplies and magnets, and mechatronics.
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