TDK’s Robust Results Suggest Long-Term Growth of Passive Components and Rechargeable Batteries
We believe that TDK’s robust September quarter results support our view that the company will achieve a long-term growth, driven by auto digitalization. Main takeaways from the earnings briefing were: 1) TDK expects strong demand of multilayer ceramic capacitors, or MLCC, for autos and plans 10% capacity expansion for the next year; 2) TDK anticipates new demand from various devices, such as robots, drones, game consoles, and wearables, for polymer rechargeable batteries, and thus plans 10%-15% ...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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