TDK Corp. Q3 Profit Climbs; Lifts FY22 Outlook; Stock Up

(RTTNews) - TDK Corp. (TTDKF.PK, TTDKY.PK), a Japanese manufacturer of passive components and magnetic application products, reported Monday that its third-quarter net income attributable to the company climbed 59.1 percent to 49.08 billion Japanese yen or $426.77 million from 30.85 billion yen a year ago.

Earnings per share were 129.20 yen or $1.12, up from 81.24 yen last year.

Operating income for the quarter grew 31.3 percent to 59.20 billion yen or $514.80 million, from 45.08 billion yen in the previous year.

Net sales climbed 26.3 percent to 499.67 billion yen or $4.34 billion from 395.69 billion yen in the previous year.

Looking ahead for fiscal 2022, the company said its outlook has been revised upward in light of operating results through the third quarter and the latest order tr

For the year, the company now expects attributable net income of 113 billion yen, operating income of 160 billion yen and net sales of 1.85 trillion yen. The company previously expected attributable net income of 110 billion yen, operating income of 150 billion yen and net sales of 1.60 trillion yen.

The latest outlook reflects a 42.4 percent year-over-year rise in attributable net income, 43.5 percent jump in operating income and 25.1 percent rise in net sales.

In Japan, TDK shares were trading at 4,100 yen, up 5.53 percent.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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