FOR IMMEDIATE RELEASE
April 26, 2012

Fiscal Year 2011 Consolidated Financial Results(April 1, 2011 to March 31, 2012)

FDK CORPORATION(URL: http://www.fdk.com)
Listing Code No.6955 (Listing Stock Exchange: The Second Section of Tokyo Stock Exchange)
Address : Hamagomu Bldg. 5-36-11 Shimbashi, Minato-ku, Tokyo 105-8677
Contact : Corporate Communication Office, General Affairs Department
E-mail: jun@fdk.co.jp
Date of the ordinary general shareholder's meeting : June 27, 2012
Filing date of Yukashoken Hokokusho: June 27, 2012
The Consolidated Financial Results is unaudited / U.S. GAPP is not applied

1.Consolidated Results for FY2011 ended March 31, 2012
a. Consolidated Statements of Income
Yen

U.S.Dollars(millions)(millions)

FY2010FY2011(4/1/10-3/31/11)
94,431(4/1/11-3/31/12)
80,334

Operating Income

4,396

136

-96.9

$1.66

Income Before Income Taxes

3,835

437

-88.6

$5.32

Net Income

2,571

359

-86.0

$4.37

Net Sales

FY2011
Change(%)-14.9 %

(4/1/11-3/31/12)$978.01

Amounts Per Share of Common Stock:
Basic Earnings (Loss)

11.83 yen

1.65 yen

Diluted Earnings

9.24

1.29

-

b. Consolidated Financial Position
Yen(millions)
As of Mar. 31,

As of Mar. 31,

2011

2012

Total Assets

58,95858,427

Total Net Assets

4,998

6,993

Shareholders' Equity

6,302

6,661

Shareholders' Equity Ratio

7.4%

8.0%

(30.42) yen(29.00) yen

Shareholders' Equity
Per Sharec. Consolidated Statements of Cash FlowsYen(millions)

Net cash used in

FY2010FY2011(4/1/10-3/31/11)
4,283(4/1/11-3/31/12)
2,355(2,505)(1,971)(4,713)

1,368

4,156

5,875

operating activities
Net cash used ininvesting activities
Net cash used infinancing activities
Cash and cash equivalents

2.0 cent
1.6 cent

at end of period
Consolidated Subsidiaries

15 companies

Unconsolidated Subsidiaries (equity method applied)

3 companies

Affiliates (equity method applied only)

1 companies

d. Net Sales by Business Segment
Yen

Yen

U.S.Dollars(millions)(millions)(millions)

FY2010FY2011FY2011(4/1/10-3/31/11)
57,651(4/1/11-3/31/12)
52,090(4/1/10-3/31/11)$634.16

Electronic Devices

36,77928,244$343.85

Total

94,43180,334$978.01

Batteries(Notes for the Consolidated Operating Results (from 1.a to 1.d))
1. All amounts less than one million yen have been disregarded.
2. U.S. dollar amounts are translated from yen, for convenience only, at the rate of $1=82.14 yen
3.The percentage in this statement presents rate of change compared with the previous fiscal year.

2.Consolidated Financial Forecast for the year ending March 31, 2013
(Million of yen, except per share data)
FY2012

Change(%)

Net Sales¥87,000

8.3 %Operating Income¥1,000631.1 %Net Income¥1,500317.4 %Net Income per Share

6.9 yen-

3. Others(1)Changes in significant subsidiaries during the period: Yes.
(New) 1company: Asahi Kasei FDK Energy Device Co., Ltd.
(2)Changes in accounting policies, procedures, and presentation, etc.
1)Changes resulting from revisions in accounting principles,etc.: No.
2)Other changes: No.
(3)Number of shares outstanding (common stock)
1)Number of shares outstanding at the end of fiscal year. (including treasury shares)
March 31, 2012 : 217,505,884 shares

March 31, 2011: 217,505,884 shares

2)Number of treasury shares at the end of fiscal year
March 31, 2012 : 229,956 shares

March 31, 2011: 226,920 shares3)Weighted average number of shares outstanding during the fiscal year ended March 31 of each year
March 31,2012: 217,277,191 shares

March 31,2011: 217,283,560 shares

Consolidated Balance Sheets
Millions of yen
FY2010Mar 31, 2011
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Merchandise and finished goods
Work in process
Raw materials and supplies
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Non-current assets
Property, plant and equipment
Buildings and structures, net
Machinery, equipment and vehicles, net
Tools, furniture and fixtures, net
Land
Lease assets, net
Construction in progress
Total property, plant and equipment
Intangible assets
Investments and other assets
Investment securities
Long-term loans receivable
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
LiabilitiesClibili iCurrent
liabilities
Notes and accounts payable-trade
Short-term loans payable
Lease obligations
Accounts payable-other
Income taxes payable
Provision for loss on desaster
Other
Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Negative goodwill
Other
Total non-current liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets

FY2011Mar 31, 2012

4,163
21,690
3,226
3,068
1,513
179
1,584
(60)
35,366

6,178
19,753
2,640
3,556
1,583
107
1,512
(57)
35,274

7,879
7,999
659
3,493
440
367
20,841
908

7,537
7,517
778
3,409
462
901
20,605
819

131
8
228
1,473
(0)
1,841
23,591

144
3
194
1,386
(0)
1,728
23,152

58,95858,427

16,73919,650
263
1,935
415
322
3,495
42,823

15,911
21,277
297
1,864
152
156
2,050
41,710

496
1
7,449
2,846
342
11,136
53,959

402
3
6,824
2,087
405
9,723
51,43328,301
22,622(44,580)
(41)
6,302

28,301
22,622(44,220)
(41)
6,661

3
(1,916)(1,912)
608
4,998

9
(1,971)(1,961)
2,294
6,993

58,95858,427

Consolidated Statements of Income
Millions of yen
FY2010FY2011

Apr'10-Mar'11

Apr'11-Mar'12

Net sales

94,43180,334

Cost of sales

78,81170,021Gross profit

15,61910,313

Selling, general and administrative expenses

11,222

10,177

Operating income

4,396

136

Non-operating income
Interest income

17

22

Amortization of negative goodwill

759

759

Rent income

33

17

Other

209

216

1,020

1,015

Interest expenses

234

163

Foreign exchange losses

565

344

Loss on retirement of non-current assets

260

248

Other

220

290

1,280

1,046

4,135

105

246

449

Total non-operating income
Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income
Subsidy
Reversal of provision for compensation for damage-

117

Reversal of provision for loss on disaster-

105

Gain on sales of land-

85

Gain on liquidation of subsidiaries and affiliates

423-

Gain on donation of non-current assets

117

-

Other

38

-

Total extraordinary income

824

757

-

227

Impairment loss

304

198

Loss on disaster

430-

Loss on retirement of non-current assets

174-

Loss on change of contract

127-

Extraordinary loss
Cost of corrective measures for products

Other

88

-

Total extraordinary loss

1,125

426

Income before income taxes

3,835

437

713

127

Income taxes-current
Income taxes-deferred

535

107

Total income taxes

1,248

234

Income before minority interests

2,586

202

15

(156)

2,571

359

Minority interests in income
Net income

Consolidated Statements of comprehensive income
Millions of yen

Income before minority interests

FY2010FY2011

Apr'10-Mar'11

Apr'11-Mar'12

2,586

202

(1)

6

Other comprehensive income
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment

45

-

(811)

(87)

Share of other comprehensive income of associates accounted for using equity method

(77)

27

Other comprehensive income

(845)

(53)

1,741

149

1,731

310

9

(161)

Comprehensive income（Comprehensive income attributable to）
Comprehensive income attributable to owners of the parent
Comprehensive income attributable to minority interests

Consolidated Statements of Changes in Net Assets
Millions of yen
FY2010
Apr'10-Mar'11
Shareholders' equity
Capital stock
Beginning balance
Changes of items during the period
Total changes of items during the periodEnding balance
Capital surplus
Beginning balance
Changes of items during the period
Total changes of items during the periodEnding balance
Retained earnings
Beginning balance
Changes of items during the period
Net income(loss)
Total changes of items during the periodEnding balance
Treasury stock
Beginning balance
Changes of items during the period
Purchase of treasury stock
Total changes of items during the periodEnding balance
Total shareholders' equity
Beginning balance
Changes of items during the period
Net income(loss)
Purchase of treasury stock
Total changes of items during the periodEnding balance
Accumulated other comprehensive income
Valuation difference on available-for-sale securities
Beginning balance
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance
Deferred gains or losses on hedges
Beginning balance
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance
Foreign currency translation adjustment
Beginning balance
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance
Total Accumulated other comprehensive income
Beginning balance
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance
Minority interests
Beginning balance
Changes of items during the period
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance
Net assets
Beginning balance
Changes of items during the period
Net income(loss)
Purchase of treasury stock
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance

FY2011
Apr'11-Mar'12

28,301

28,301

28,301

28,301

22,622

22,622

22,622

22,622(47,151)(44,580)

2,571
2,571
(44,580)359
359(44,220)

(40)

(41)

(1)
(1)
(41)

(0)
(0)
(41)

3,732

6,302

2,571
(1)
2,570
6,302

359
(0)
359
6,661

5

3

(1)
(1)
3

6
6
9

(45)

-

45
45
-

-

(1,033)(1,916)

(883)
(883)
(1,916)(55)(55)(1,971)(1,073)(1,912)

(839)
(839)
(1,912)(48)(48)(1,961)

599

608

9
9
608

1,685
1,685
2,294

3,258

4,998

2,571
(1)
(830)
1,740
4,998

359
(0)
1,636
1,995
6,993

Consolidated Statements of Cash Flows
Millions of yen
FY2010FY2011

Apr'10-Mar'11

Apr'11-Mar'12

Net cash provided by (used in) operating activities
Income before income taxes

3,835

437

Depreciation and amortization

3,664

3,357

Impairment loss

304

198

Loss (gain) on liquidation of subsidiaries and affiliates

(423)

-

Subsidy income

(246)

(449)

Gain on donation of non-current assets

(117)

-

Loss on disaster

430-

Loss on change of contract

127-

Equity in (earnings) losses of affiliates

50

98

Increase (decrease) in provision for retirement benefits

(329)

(624)

Increase (decrease) in allowance for doubtful accounts

(48)

(2)

Interest and dividends income

(19)

(52)

Interest expenses

234

163

Foreign exchange losses (gains)

71

Loss (gain) on sales of property, plant and equipment

4

(83)

Loss on retirement of non-current assets

434

248

Amortization of negative goodwill

(759)

(759)

(1,021)

1,883

Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories

(499)

(45)

(1,532)(690)

Increase (decrease) in accrued expenses

233

(969)

Other, net

731

(285)

Subtotal

5,063

2,426

Increase (decrease) in notes and accounts payable-trade

Interest and dividends income received

19

52

Proceeds from subsidy

246

449

Interest expenses paid

(208)

(204)

Income taxes paid

(732)

(368)

Change of contract paid

(127)

-

Other, net

24

-

4,283

2,355

Payments into time deposits

(15)

(312)

Proceeds from withdrawal of time deposits

15

15

Purchase of property, plant and equipment(2,503)(3,594)

Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities

Proceeds from sales of property, plant and equipment

555

119

Purchase of intangible assets

(467)

(49)

Purchase of investment securities

(23)

(3)

Proceeds from sales of investment securities

16-

Proceeds from sales of stocks of subsidiaries and affiliates

-

1,846

Other, net
Net cash provided by (used in) investing activities

(82)

6

(2,505)(1,971)(4,108)

1,662

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Repayment of long-term loans payable
Purchase of treasury stock
Repayments of finance lease obligations
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(357)

-

(1)

(0)

(247)

(293)

(4,713)

1,368

(319)

(34)

Net increase (decrease) in cash and cash equivalents(3,254)

1,718

Cash and cash equivalents at beginning of period

7,411

4,156

Cash and cash equivalents at end of period

4,156

5,875

Consolidated Business Segment Information
Millions of yen
FY2010 Apr'10-Mar'11
Business Segments Reported

Electronic
Materials

Batteries

Total

Ajustments

Consolidated
Statements-

94,431

Net sales
Unaffiliated customers
Intersegment
Total

57,651

36,77994,431

-

-

-

-

-

57,651

36,77994,431-

94,431

Segment income

3,909

486

4,396

-

4,396

Segment assets

43,34014,542

57,882

1,075

58,958

3,061

603

3,664

-

3,664

-

1,130

1,130

-

1,130

2,678

927

3,606

-

3,606

Ajustments

Consolidated
Statements

80,334

Other items
Depreciation
Amount of investment to equity method-treasury stock
Increase in property, plant and equipment and intangible assets

FY2011 Apr'11-Mar'12
Business Segments Reported
Electronic
Batteries
Materials

Total

Net sales
Unaffiliated customers

52,09028,24480,334

-

-

-

-

-

-

52,09028,24480,334-80,334

Segment income

(106)

243

136

-

136

Segment assets

42,122

15,22657,348

1,079

58,427

2,902

454

3,357

-

3,357

-

1,059

1,059

-

1,059

2,630

859

3,490

-

3,490

Intersegment
Total

Other items
Depreciation
Amount of investment to equity method-treasury stock
Increase in property, plant and equipment and intangible assets

Business Results(1) Analysis of Consolidated Business Results
1. Overview
The business environment of the FDK Group (hereinafter called “FDK”) during the fiscal year ending
March 31, 2012 remained in severe condition due to the continuing high appreciation of yen from the crisis
triggered by the European debt issues and also the severe effect of flooding to the productions in Thailand,though the Japanese economy continued to recover gradually from the slump caused by the Great East Japan
Earthquakes as the recovery progressed toward the reconstruction of the disaster areas.
As for FDK’s business results, net sales were 80,334 million yen, a decrease of 14,096 million yen from theprevious fiscal year due to the decrease in sales of Ni-MH batteries and signal processing modules for LCDs.
As for profits, operating income was 136 million yen, substantially decreased 4,259 million yen from theprevious fiscal year due to the rising material costs for batteries such as rare earth and the appreciation of yen.
Income before income taxes was 437 million yen; decreased 3,397 million yen from the previous fiscal year.
Net income was 359 million yen decreased 2,211 million yen from the previous fiscal year, though a subsidy
was received.
The divisional sales overview is as follows.

2. Battery Business
Sales of Ni-MH batteries fairly decreased from the previous year due to decrease in sales for consumer
markets due to the sluggish economy in North America and Europe. Sales of lithium batteries decreased fromthe previous year due to decrease in sales for fire alarms, mobile phones, and laptop computers. Sales ofalkaline batteries decreased from the previous year. Although FDK made an extensive production and sales
efforts for the Japan market in the first half to respond to the scarce condition in retail stores by the Great
East Japan Earthquakes, their sales in Japan were the same as the previous year due to the many imported
batteries and the sluggish market demand in the second half, and their sales in global market decreased in
North America from the previous year.
As a result, sales for the battery business were 52,090 million yen, a decrease of 5,560 million yen fromthe previous fiscal year.

3. Electronic Device Business
Sales of multilayer power inductors and high frequency devices increased from the previous year due tothe increase in sales of smartphones. Sales of coil devices decreased from the previous year due to thedecrease in sales of transformers to LCD TVs, reflected to the drastic reduction in the production by LCD
TV makers and the decrease in investment for industrial machineries in China. Sales of toner increased fromthe previous year due to increase in the sales for printers. Sales of signal processing modules for LCDs
decreased from the previous year due to a sales decline and decreased sales prices by the excess in supply of
the LCD panels in the global market. Sales of switching power supplies decreased from the previous year
due to a sales decline for servers.
As a result, sales for the electronic device business were 28,244 million yen, a decrease of 8,535 million
yen from the previous fiscal year.

4. Forecast for the Fiscal Year Ending March 31, 2013
Japanese economy is expected to slowly but surely recover by the reconstruction demand of theearthquakes. However, it is also expected to continue the unpredictable situation due to the power supply
issues, protracted strong yen, soaring crude oil prices and downward economy in the global market.
Under these circumstances, FDK will further promote “PremiumG” which is a newly released alkaline
battery in this April and make a best effort to develop new power storage systems by collaborating of theBattery Business and the Electronic Device Business.
In addition, FDK aims to improve its profitability and enhance its corporate value by putting Asahi Kasei
FDK Energy Device Co., Ltd., which is a joint venture launched last year with Asahi Kasei on the track,further strengthen on product development and supply on lithium ion capacitors.
As for the forecast for the FY2012, FDK targets net sales at 87,000 million yen, operating income at 1,000
million yen and net income at 1,500 million yen. Regarding the exchange rate for FY2012, FDK set an 80
yen per US dollar and a 100 yen per euro.

(2) Analysis of Financial Condition
1. Status of Assets, Liabilities and Net Assets
Total assets at the end of FY2011 decreased 530 million yen from the end of the previous fiscal year to58,427 million yen. Current assets decreased 91 million yen to 35,274 million yen. Noncurrent assets
decreased 439 million yen from the end of the previous fiscal year to 23,152 million yen. The principal
causes for decreased current assets were a 1,936 million yen decrease in notes and accounts receivable-trade
and a 586 million yen decrease in merchandise and finished goods, though there was a 2,015 million yen
increase in cash and deposits. The principal cause for decreased noncurrent assets was a 235 million yen
decrease in total property, plant and equipment.
Total liabilities at the end of FY2011 decreased 2,525 million yen from the end of the previous fiscal year
to 51,433 million yen. Current liabilities decreased 1,113 million yen from the end of the previous fiscal year
to 41,710 million yen. Noncurrent liabilities decreased 1,412 million yen from the end of the previous fiscal
year to 9,723 million yen.
The principal cause of decreased current liabilities was a 828 million yen decrease in notes and accounts
payable-trade. The principal causes for decreased non-current liabilities were a 759 million yen decrease innegative goodwill and a 624 million yen decrease in provision for retirement benefits.
The interest-bearing debt increased 1,566 million yen from the end of the previous fiscal year to 21,977
million yen.
Total net assets at the end of FY2011 increased 1,995 million yen from the end of the previous fiscal year
to 6,993 million yen. The main factors for the increase in total net assets were a 1,685 million yen increase inminority interests and a 359 million yen increase in retained earnings by posting a net income of FY2011.

2. Cash Flow Condition
Net cash used in operating activities increased 2,355 million yen from the beginning of this fiscal year
due to an increase in cash and cash equivalents (cash) by posting the depreciation and amortization and adecrease in notes and accounts receivable trade.
Net cash used in investment activities decreased 1,971 million yen from the beginning of this fiscal year
by purchasing the property, plant and equipment, though there was an increase of the proceeds from sales ofstocks of subsidiaries and affiliates.
Net cash used in financing activities increased 1,368 million yen from the beginning of this fiscal year due
to the net increase in short-term loans payable.
As a result, the balance of cash and cash equivalents at March 31, 2012 was 5,875 million yen, an increaseof 1,718 million yen from the beginning of the fiscal year.