FOR IMMEDIATE RELEASE
April 27, 2016
Fiscal Year 2015 Consolidated Financial Results(April 1, 2015 to March 31, 2016)
FDK CORPORATION
Listing Code No. 6955 (Listing Stock Exchange: The Second Section of Tokyo Stock Exchange)
Address: Shinagawa Crystal Square Bldg., 1-6-41 Konan, Minato-ku, Tokyo 108-8212 Japan
Contact: Public and Investor Relations Dept., General Affairs & Personnel Div.
E-mail: hirano@fdk.co.jp
Date of the ordinary general shareholders' meeting: June 28, 2016
Filing date of Yukashoken Hokokusho: June 28, 2016
The Consolidated Financial Results is unaudited/U.S. GAPP is not applied(URL: http://www.fdk.com)

1. Consolidated Results for FY2015 ended March 31, 2016a. Consolidated Statement of Income
Yen(millions)

Net Sales
Operating Income
Ordinary Income
Profit attributable to ownersof parent

FY2014(4/1/14-3/31/15)
76,365
2,211
504
961

Amounts Per Share of Common Stock:
Basic Earnings
Diluted Earnings

FY2015(4/1/15-3/31/16)
80,745
1,580
658
167

3.43 yen- yen

Change (%)
5.7 %
-28.5
30.6
-82.6

0.60 yen- yen

U.S.Dollars(millions)
FY2015(4/1/15-3/31/16)$716.52$14.02$5.84$1.48

0.53 cent-b. Consolidated Financial Position
Yen(millions)
As of Mar. 31,
As of Mar. 31,
2015
2016
57,25654,217
Total Assets
8,578
7,754
Total Net Assets
8,969
9,135
Shareholders' Equity
13.8 %
13.0 %
Shareholders' Equity Ratio
28.20 yen
25.24 yen
Shareholders' Equity Per Sharec. Consolidated Statement of Cash FlowsYen(millions)

Cash Flows fromOperating Activites
Cash Flows from
Investing Activites
Cash Flows from
Financing Activites
Cash and Cash Equivalents
at End of Period

FY2014(4/1/14-3/31/15)
1,894

FY2015(4/1/15-3/31/16)
5,371

(111)

(1,650)(2,717)(2,142)

4,758

5,952

Yen
(millions)
FY2014(4/1/14-3/31/15)
50,90925,45576,365Yen(millions)
FY2015(4/1/15-3/31/16)
51,72729,01780,745d. Net Sales by Business Segment

Batteries
Electronic Devices
Total(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=112.69 yen
3. The percentage in this statement presents rate of change compared with the previous fiscal year.

U.S.Dollars(millions)
FY2015(4/1/15-3/31/16)$459.02$257.49$716.52

2. Consolidated Financial Forecast for the year ending March 31, 2017
(Million of yen, except per share data)

Net Sales
Operating Income
Ordinary Income
Profit attributable to owners of parent
Net Income per ShareFY2016
Change from FY2015
82,0001.6 %
1,500-5.1 %
1,000
51.8 %
500
198.1 %
1.79 yen- yen

FY201580,745
1,580
658
167
0.6 yen

3. Others(1) Changes in significant subsidiaries during the period: Yes.
Consolidated Subsidiaries
14 companies
Unconsolidated Subsidiaries (equity method applied)
3 companies
Affiliates (equity method applied only)
1 companies(2) Changes in accounting policies, changes in accounting estimates, and restatements
1) Changes in accounting policies due to the amendment of accounting standards: Yes
2) Other changes in accounting policies: No
3) Changes in accounting estimates: No4) Restatement: No(3) Number of shares outstanding (common stock)1) Number of shares outstanding at the end of fiscal year. (including treasury shares)
March 31, 2016: 280,363,026 shares
March 31, 2015: 280,363,026 shares
2) Number of treasury shares at the end of fiscal year
March 31, 2016: 260,914 shares
March 31, 2015: 250,566 shares3) Weighted average number of shares outstanding during the fiscal year ended March 31 of each year
March 31, 2016: 280,106,714 shares
March 31, 2015: 280,117,119 shares

Consolidated Balance Sheet
Millions of yen
FY2014
Mar 31, 2015
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
Net defined benefit asset
Deferred tax assets
Other
Allowance for doubtful accounts
Total investments and other assets
Total non-current assets
Total assets
Liabilities
Current liabilities
Notes and accounts payable-trade
Short-term loans payable
Lease obligations
Accounts payable-other
Income taxes payable
Other
Total current liabilities
Non-current liabilities
Lease obligations
Deferred tax liabilities
Net defined benefit liability
Long-term accounts payable - other
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
Remeasurements of defined benefit plans
Total accumulated other comprehensive income
Non-controlling interests
Total net assets
Total liabilities and net assets

FY2015
Mar 31, 2016

4,758
20,993
3,307
2,422
1,909
188
2,560
(99)
36,0395,952
18,731
3,011
3,148
1,830
139
1,916
(84)
34,646

7,580
4,766
1,019
2,735
1,504
767
18,373
591

7,120
4,440
1,021
2,700
1,867
763
17,913
552

194
1
630
85
1,340
(0)
2,251
21,21657,256

169
0
272
24
638
(0)
1,104
19,571
54,217

14,90017,280
466
2,364
288
3,652
38,951

14,976
15,680
522
2,994
302
3,120
37,597

1,003
214
5,184
3,162
161
9,726
48,678

1,135
99
4,890
2,472
269
8,866
46,46328,301
22,622(41,910)
(44)
8,969

28,301
22,622(41,742)
(45)
9,135

34
2,521
(3,625)(1,069)678
8,578
57,25619
1,205(3,290)(2,065)683
7,754
54,217

Consolidated Statement of Income
Millions of yen
FY2014FY2015Apr'14-Mar'15

Apr'15-Mar'16

Net sales

76,36580,745

Cost of sales

62,762

67,431Gross profit

13,602

13,313

Selling, general and administrative expenses

11,391

11,733Operating income

2,211

1,580

Interest income

41

33

Foreign exchange gains

201

48

Amortization of negative goodwill

569-

Gain on sales of investment securities-

39

Rent income

200

54

Other

138

111

1,151

287

141

133

2,353

602

Loss on retirement of non-current assets

82

245

Other

280

227

2,858

1,208

504

658

Gain on transfer of business

691-

Compensation income

260-

Subsidy income

147

-

1,098

-

Impairment loss-

106

Loss on litigation

85-

Total extraordinary loss

85

106

Income before income taxes

1,517

551

Income taxes-current

341

367

Income taxes-deferred

183

4

Total income taxes

525

372

Profit991

179

Profit attributable to non-controlling interests30

11

Profit attributable to owners of parent

961

167

Non-operating income

Total non-operating income
Non-operating expenses
Interest expenses
Share of loss of entities accounted for using equity method

Total non-operating expenses
Ordinary income
Extraordinary income

Total extraordinary income
Extraordinary loss

Consolidated Statement of comprehensive income
Millions of yen
FY2014FY2015Apr'14-Mar'15

Apr'15-Mar'16

991

179

7

(17)

Foreign currency translation adjustment

2,041(1,224)Remeasurements of defined benefit plans, net of tax

(967)

335

162

(95)

Other comprehensive income

1,244(1,002)Comprehensive income

2,236

(822)

2,181

(827)

54

4

ProfitOther comprehensive income
Valuation difference on available-for-sale securities

Share of other comprehensive income of entities accounted for using equity method(Comprehensive income attributable to)Comprehensive income attributable to owners of the parent
Comprehensive income attributable to non-controlling interests

Consolidated Statement of Changes in Equity

FY2014 (Apr'14-Mar'15)
Yen (millions)Shareholders' equity

Capital stock

Beginning balance

Capital surplus

28,301Retained earnings

22,622

Cumulative effects of changes inaccounting policies
Restated balance(42,706)

Treasury shares

(42)

(164)
28,301

22,622(42,871)

Total
shareholders'equity
8,174
(164)

(42)

8,009

Changes of items during period
Profit attributable to owners of parent

961

Purchaes of treasury shares
Total changes of items during periodEnding balance

961
(1)

(1)

-

-

961

(1)

960

28,301

22,622(41,910)

(44)

8,969

Accumulated other comprehensive income
Valuation difference
on available-forsale securities

Foreign currencytranslation
adjustment

Remeasurements ofdefined benefit
plans

Total Accumulated
othercomprehensive
incomeNon-controllinginterests

26

341(2,658)(2,290)624

Beginning balance

Net assets

6,508

Cumulative effects of changes inaccounting policies(164)

Restated balance

26

341

(2,658)(2,290)

624

6,343

Changes of items during period
Profit attributable to owners of parent

961

Purchaes of treasury shares(1)

Net changes of items other thanshareholders' equity

7

2,179

(967)

1,220

54

1,274

Total changes of items during period

7

2,179

(967)

1,220

54

2,234

Ending balance

34

2,521

(3,625)(1,069)

678

8,578

Consolidated Statement of Changes in Equity

FY2015 (Apr'15-Mar'16)
Yen (millions)Shareholders' equity

Capital stock

Beginning balance

Capital surplus

28,301Retained earnings

22,622(41,910)

Treasury shares

(44)

Total
shareholders'equity8,969

Cumulative effects of changes inaccounting policies
Restated balance

28,301

22,622(41,910)

(44)

8,969

Changes of items during period
Profit attributable to owners of parent

167

Purchaes of treasury shares
Total changes of items during periodEnding balance

167
(1)

(1)

-

-

167

(1)

166

28,301

22,622(41,742)

(45)

9,135

Accumulated other comprehensive income

Beginning balance

Valuation difference
on available-forsale securities

Foreign currencytranslation
adjustment

Remeasurements ofdefined benefit
plans

Total Accumulated
othercomprehensive
incomeNon-controllinginterests

34

2,521

(3,625)(1,069)678

Net assets

8,578

Cumulative effects of changes inaccounting policies
Restated balance

34

2,521

(3,625)(1,069)

678

8,578

Changes of items during period
Profit attributable to owners of parent

167

Purchaes of treasury shares(1)

Net changes of items other thanshareholders' equity(14)(1,315)

335

(995)

4

(990)

Total changes of items during period(14)(1,315)

335

(995)

4

(824)

Ending balance

19

1,205

(3,290)(2,065)

683

7,754

Consolidated Statement of Cash Flows
Millions of yen
FY2014FY2015Apr'14-Mar'15

Apr'15-Mar'16

Cash flows from operating activities
Income before income taxes

1,517

551

Depreciation and amortization

2,632

2,390

-

106

(544)

(253)

Increase (decrease) in allowance for doubtful accounts

31

(12)

Interest and dividend income

(43)

(36)

Interest expenses

141

133

Foreign exchange losses (gains)

(12)

2

Share of (profit) loss of entities accounted for using equity method

2,353

602

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

(1)

(12)

Loss on retirement of non-current assets

82

245

Amortization of negative goodwill

(569)

-

Subsidy income

(147)

-

Loss (gain) on transfer of business

(691)

-

(1,239)1,340

Decrease (increase) in inventories

(353)

(554)

Increase (decrease) in notes and accounts payable-trade

571

811

Increase (decrease) in accrued expenses

329

(91)

Other, net(1,880)678

Subtotal

2,175

5,903

Interest and dividend income received

43

36

Proceeds from subsidy income

147-

Interest expenses paid

(138)

(133)

Income taxes paid

(333)

(435)

Net cash provided by (used in) operating activities

1,894

5,371

(2,073)(2,603)

Proceeds from sales of property, plant and equipment

397

777

Purchase of intangible assets

(54)

(86)

Purchase of investment securities

(3)

(4)

-

41

Purchase of shares of subsidiaries and associates

(299)

(0)

Proceeds from transfer of business

1,959

-

Other, net

(36)

225

Net cash provided by (used in) investing activities(111)(1,650)(2,230)(1,600)

(1)

(1)

(486)

(541)

(2,717)(2,142)

Effect of exchange rate change on cash and cash equivalents

664

(515)

Net increase (decrease) in cash and cash equivalents

(270)

1,062

-

131

Cash and cash equivalents at beginning of period

5,029

4,758

Cash and cash equivalents at end of period

4,758

5,952

Impairment loss
Increase (decrease) in net defined benefit liability

Decrease (increase) in notes and accounts receivable-trade

Cash flows from investing activities
Purchase of property, plant and equipment

Proceeds from sales of investment securities

Cash flows from financing activities
Net increase (decrease) in short-term loans payable
Purchase of treasury shares
Repayments of finance lease obligations
Net cash provided by (used in) financing activities

Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation

Consolidated Business Segment Information
Millions of yen
FY2014 Apr'14-Mar'15
Business Segments Reported
Electronic
Batteries
Materials

Total

Consolidated
Statements

Adjustments

Net sales
Unaffiliated customers

50,909Intersegment

25,455-76,365--76,365

-

-

Total

50,90925,45576,365-76,365

Segment income (loss)

2,718

(507)

2,211

-

2,211

Segment assets

38,854

17,32456,179

2,088

544

2,632

-

2,632

1,060

1,060

-

1,060

526

2,593

-

2,593

1,077

57,256

Other items
Depreciation
Investment to entities accounted for using equity method
Increase in property, plant and equipment and intangible assets

2,066

FY2015 Apr'15-Mar'16
Business Segments Reported
Electronic
Batteries
Materials

Total

Consolidated
Statements

Adjustments

Net sales
Unaffiliated customers

51,727

Intersegment

29,017-80,745--80,745

-

-

Total

51,72729,01780,745-80,745

Segment income (loss)

2,513

(933)

1,580

-

1,580

Segment assets

36,836

16,291

53,128

1,826

563

2,390

-

2,390

429

429

-

429

520

2,531

-

2,531

1,088

54,217

Other items
Depreciation
Investment to entities accounted for using equity method
Increase in property, plant and equipment and intangible assets

2,010

Business Results(1) Analysis of Consolidated Business Results
1.1 Overview
The business environment of the FDK Group (“FDK”) during the fiscal year ending March 31, 2016, Japanese
economy remained uncertain condition as the recovery in personal consumption was delay though the recovery incorporate earnings and improvement of employment was seen. In addition, there were some negative factors of
economic slump such as the slowing economic growth in China, instability of the European market, and downfall
in crude oil prices, though the U.S economy continued in recovering trend due to the recovery of domestic
consumptions.
Under these circumstances, FDK has continued to expand the sales of the FUJITSU Alkaline Battery series and
FUJITSU Ni-MH Rechargeable Battery series in Japan as well as in overseas and also proceeded to expand thebusiness for internet sales. As for Ni-MH batteries, FDK strived to sell for industrial use such as Ni-MH batteries
for Small Cell Power Supplies and increase the production quantities by expanding the business of customers’
brand Rechargeable Battery, etc. FDK also focused to expand sales of Lithium Batteries for disaster prevention
goods, security goods, and automotive applications in North American and European markets, where the demands
for these items are strong and also promoted the development of applications of Thin Lithium Battery. As forElectronic Device business, FDK developed DC/DC converter which has achieved the industry’s highest level ofcurrent density, and strived to mass production the Logger Device with sensor. In addition, FDK formulated the
New Mid-term Business Plan 1618, starting from FY2016 (FY2016-18) and executed some measures asfollowings to achieve the business plan.
To make sure the growth of Battery business, FDK changed the method of calculating the projected benefit
obligation from the simplified method to principle method in battery business subsidiaries because of the increaseof employees by the business expansion. In addition, to stabilize Electronic Device business, FDK strived to
sweep away the negative cost predicted in future by posting the impairment loss for fixed assets in the equity
method affiliated group companies in Japan and in overseas.
As for FDK’s business results in FY2015, net sales were 80,745 million yen, increased by 4,380 million yen(5.7%) from the last fiscal year. It was achieved by the continued sales expansion from the previous fiscal year of
the above mentioned Ni-MH Rechargeable Batteries and Lithium Batteries, the steady sales of Signal Processing
Modules for LCD Displays for industrial and LCD Televisions and joined power supply business from Fujitsu
Telecom Networks transferred in July 2015.
With regard to profit and loss, operating income was 1,580 million yen, decreased by 630 million yen (-28.5%)
from the same period last year although the operating profit till 3rd quarter was steady to achieve the forecast
amount in the beginning of this semester. This was because of the sales decrease in 4th quarter due to postpone oforder, the market demand decrease and sharp exchange rate fluctuations and also by the above mentioned measuresto achieve the New mid-term Business Plan 1618. Ordinary income was 658 million yen, increase of 154 million
yen (30.6%) from the last fiscal year due to the decrease of investment loss by the equity method, etc. Profit
attributable to owners of parent in FY2015 was 167 million yen, decreased by 793 million yen (-82.6%) from thesame period last year due to a special loss by the above mentioned measures and a decrease of special profit
generated from the business transfer in last year.
Ref: Comparison of Consolidated Financial Results

Net Sales

FY2011 (2011/04 – 2012/03)
FY2012 (2012/04 – 2013/03)
FY2013 (2013/04 – 2014/03)
FY2014 (2014/04 – 2015/03)
FY2015 (2015/04 – 2016/03)

80,33473,54776,62476,36580,745(Million yen)
Sales cost
ratio (%)
87.2
86.7
84.0
82.2
83.5

Operating
Income
136
-526
1,448
2,211
1,580

Ordinary
Income
105
174
1,471
504
658

Profitattributableto owners ofparent
359
453
1,060
961
167

The divisional sales overview is as follows.
1.2 Battery Business
Sales of Alkaline Batteries increased in customers market in Japan and in overseas by launching the new productalso into global market which was launched in Japan in the previous fiscal year, but total sales decreased from thesame period last year due to OEM products decreased in overseas. Sales of Ni-MH Batteries increased from thesame period last year due to steady sales in Japan and global consumer markets and for automotive use. Sales ofPower Storage Systems increased from the same period last year due to the increase for backup use in consumer
market and industrial market. Sales of Lithium Batteries went up from the same period last year, due to theincrease in sales for disaster prevention goods, security goods, and automotive applications.
As a result, sales for the battery business were 51,727 million yen, increased by 818 million yen from the same
period last year.
1.3. Electronic Device Business
Sales of Coil Devices decreased from the same period last year, while the sales for automotive use steadily
increased, their sales for consumer and industrial use decreased. Sales of Piezoelectric Products decreased fromthe same period last year, due to the sluggish digital camera market. Sales of DC/DC converters, Switching
Power Supplies increased from the same period last year, due to the steady increase in sales for servers, storages
and network devices and various kind of industrial products use. Sales of Signal Processing Modules for LCD
Displays increased from the same period last year, due to the steady increase in sales for industrial, and LCD
Televisions.
As a result, sales for the Electronic Device Business were 29,017 million yen, increased by 3,562 million yen
from the same period last year.
(2) Analysis of Financial Condition
2.1 Status of Assets, Liabilities and Net Assets
Total assets at the end of FY2015 decreased by 3,038 million yen (-5.3%) from the end of the previous fiscal
year to 54,217 million yen. Current assets decreased by 1,392 million yen (-3.9%) from the end of the previous
fiscal year to 34,646 million yen. Non-current assets decreased by 1,645 million yen (-7.8%) from the end of theprevious fiscal year to 19,571 million yen. The principal causes for decreased current assets were a 2,261 million
yen decrease in notes and accounts receivable-trade, though there was a 1,194 million yen increase in cash anddeposits. The principal cause for decreased non-current assets was a 459 million yen decrease in property, plantand equipment and a 357 million yen decrease in net defined benefit asset.
Total liabilities at the end of FY2015 decreased by 2,214 million yen (-4.5%) from the end of the previous fiscal
year to 46,463 million yen. Current liabilities decreased by 1,354 million yen (-3.5%) from the end of theprevious fiscal year to 37,597 million yen. Non-current liabilities decreased by 859 million yen (-8.8%) from theend of the previous fiscal year to 8,866 million yen. The principal cause of decreased current liabilities was a1,600 million yen decrease in short-term loans payable. The principal cause of decreased non-current liabilities
was a 690 million yen decrease in long-term accounts payable – other.
The interest-bearing debt decreased by 1,412 million yen from the end of the previous fiscal year to 17,337
million yen.
Total net assets at the end of FY2015 decreased by 824 million yen (-9.6%) from the end of the previous fiscal
year to 7,754 million yen. The main factors for the decrease in total net assets were a 1,315 million yen decreasein foreign currency translation adjustment, though there were a 335 million yen increase in remeasurements ofdefined benefit plans and a 167 million yen increase in retained earnings by posting a profit attributable to ownersof parent.
2.2 Cash Flow Condition
Cash flows from operating activities increased by 5,371 million yen from the beginning of this fiscal year due toan increase in cash and cash equivalents (“cash”) by posting the income before income taxes, a decrease in notes
and accounts receivable-trade and an increase in notes and accounts payable-trade (Cash flows from operating
activities for the last fiscal year increased by 1,894 million yen from the beginning of the last fiscal year).

Cash flows from investment activities decreased by 1,650 million yen from the beginning of this fiscal year bypurchase of property, plant and equipment, though there was an increase in cash by the proceeds from sales ofproperty, plant and equipment (Cash flows from investment activities for the last fiscal year decreased by 111
million yen from the beginning of the last fiscal year).
Cash flows from financing activities decreased by 2,142 million yen from the beginning of this fiscal year due tothe decrease in short-term loans payable. (Cash flows from financing activities for the last fiscal year decreased by
2,717 million yen from the beginning of the last fiscal year).
As a result, the balance of cash and cash equivalents on March 31, 2016 was 5,952 million yen, an increase of
1,194 million yen from the beginning of this fiscal year.
Ref: Changes in cash flow indicators
FY2011FY2012FY2013
FY2014Equity ratio (%)
8.0
11.1
10.6
13.8
Market value equity ratio (%)
32.7
28.1
54.6
70.0
Debt to cash flow ratio (%)
9.3
20.9
4.8
9.9
Interest coverage ratio (%)
14.4
6.7
29.2
13.4
1. Equity ratio = Total shareholders' equity / Total assets
2. Market value equity ratio = Market capitalization / Total assets
3. Debt to cash flow ratio = Interest-bearing debt / Net cash used in operating activities
4. Interest coverage ratio = Net cash used in operating activities / Interest expense

FY2015
13.0
48.6
3.2
40.4

3. Forecast for the Fiscal Year Ending March 31, 2017
The future business environment will still remain an unclear condition as same as in FY2015 due to theweakness of personal consumption with economic slump in Japan and in overseas, low capital investment andcorporate earnings decrease by the sudden rise in the exchange rate of the yen.
FDK will realize the growth as an Energy Management Manufacturer by building up the basic business with
development of raw material and by providing System Batteries using own technology of Battery and Electronic
devices to industrial and consumer market, according to the Mid-term Business Plan 1618 starting from FY2016
formulated in November last year.
As for the business forecast for the FY2016, FDK targets net sales at 82,000 million yen, operating income at
1,500 million yen, ordinary income at 1,000 million yen, and Profit attributable to owners of the parent at 500
million yen. Regarding the exchange rate for FY2016, FDK sets it at 110 yen per US dollar and at 125 yen perEuro.