FOR IMMEDIATE RELEASE
April 27, 2011

Fiscal Year 2010 Consolidated Financial Results(April 1, 2010 to March 31, 2011)

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, Business Strategy & Planning Department
E-mail: niida@fdk.co.jp
Date of the ordinary general shareholder's meeting : June 28, 2011
Filing date of Yukashoken Hokokusho: June 28, 2011
The Consolidated Financial Results is unaudited / U.S. GAPP is not applied

1.Consolidated Results for FY2010 ended March 31, 2011
a. Consolidated Statements of Income
Yen

U.S.Dollars(millions)(millions)

FY2010FY2009(4/1/10-3/31/11)
94,431(4/1/09-3/31/10)
68,447

Change(%)

Operating Income

4,396

2,398

-

$52.87

Income Before Income Taxes

3,835

1,582

-

$46.12Net Income

2,571

1,046

-

$30.92

11.83 yen

4.98 yen-

14.2 cent--

Net Sales

FY2010%(4/1/10-3/31/11)$1,135.67

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

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

As of Mar. 31,

2011

2010

Total Assets

58,95864,515

Total Net Assets

4,998

3,258

Shareholders' Equity

6,302

3,732

Shareholders' Equity Ratio

7.4%

4.1%

(30.42) yen(38.39) yen

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

Net cash used in

FY2010FY2009(4/1/10-3/31/11)
4,283(4/1/09-3/31/10)
211(2,505)(5,505)(4,713)

5,325

4,156

7,411

operating activities
Net cash used ininvesting activities
Net cash used infinancing activities
Cash and cash equivalents
at end of period
Consolidated Subsidiaries

16 companies

Unconsolidated Subsidiaries (equity method applied)- companies

Affiliates (equity method applied only)

1 companies-1-d. Net Sales by Business Segment
Yen

Yen

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

FY2010FY2009FY2010(4/1/10-3/31/11)
36,779(4/1/09-3/31/10)
37,673(4/1/10-3/31/11)$442.32

Batteries

57,651

30,773$693.34

Total

94,431

68,447$1,135.67

Electronic Devices(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=83.15 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, 2012
(Million of yen, except per share data)
FY2011

Change from FY2010(%)

Net Sales

TBD

N/A %

Operating Income

TBD

N/A %

Net Income

TBD

N/A %

Net Income per ShareTBD yen-Note: Regarding consolidated financial forecasts for the fiscal year ending March 31, 2012, due to the difficultyof determine the effects from the Great East Japan Earthquake, FDK will postpone the announcement of theforecast for the year ending March 31, 2012. Further detail will be announced as soon as it becomes available.
3. Others(1)Changes in significant subsidiaries during the period: No.
(2)Changes in accounting policies, procedures, and presentation, etc.
1)Changes resulting from revisions in accounting principles,etc.: Yes
2)Other changes: Yes(3)Number of shares outstanding (common stock)
1)Number of shares outstanding at the end of fiscal year. (including treasury shares)
March 31, 2011 : 217,505,884 shares

March 31, 2010: 217,505,884 shares

2)Number of treasury shares at the end of fiscal year
March 31, 2011 : 226,920 shares

March 31, 2010: 218,916 shares3)Weighted average number of shares outstanding during the fiscal year ended March 31 of each year
March 31,2011:217,283,560 shares

March 31,2010:209,942,272 shares-2-Consolidated Balance Sheets
Millions of yen
FY2009Mar 31, 2010
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
Current portion of long-term loans payable
Lease obligations
Accounts payable-other
Income taxes payable
Provision for loss on desaster
Other
Total current liabilities
Non-current liabilities
Long-term loans payable
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
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total accumulated other comprehensive income
Minority interests
Total net assets
Total liabilities and net assets

FY2010Mar 31, 2011

7,417
21,458
2,597
2,921
2,047
265
2,428
(113)
39,023

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

8,079
9,422
804
3,469
402
200
22,378
669

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

130
14
688
1,610
(0)
2,444
25,492

131
8
228
1,473
(0)
1,841
23,59164,51558,95819,08823,794
325
230
2,310
433
2,853
49,036

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

66
546
3
7,778
3,605
220
12,221
61,257

496
1
7,449
2,846
342
11,136
53,95928,301
22,622(47,151)
(40)
3,732

28,301
22,622(44,580)
(41)
6,302

5
(45)
(1,033)(1,073)
599
3,258

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

64,51558,958--3-

Consolidated Statements of Income
Millions of yen
FY2009FY2010

Apr'09-Mar'10

Apr'10-Mar'11

Net sales

68,447

94,431

Cost of sales

57,96878,811Gross profit

10,47815,619Selling, general and administrative expenses

8,080

11,222

Operating income (loss)

2,398

4,396

Non-operating income
Interest income

18

17

Amortization of negative goodwill

189

759

Rent income

36

33

Gain on sales of non-current assets

49

-

Other

136

209

Total non-operating income

430

1,020

Interest expenses

229

234

Equity in losses of affiliates

152-

Foreign exchange losses

161

565

Loss on retirement of non-current assets

175

260

Other

254

220

Total non-operating expenses

974

1,280

1,853

4,135

Gain on liquidation of subsidiaries and affiliates-

423

Subsidy-246

Gain on donation of non-current assets-

117

Gain on sales of subsidiaries and affiliates' stocks

39

-

Other

-

38

Total extraordinary income

39

824

Loss on disaster-

430

Impairment loss

Non-operating expenses

Ordinary income (loss)
Extraordinary income

Extraordinary loss

191

304

Loss on retirement of non-current assets-

174

Loss on change of contract

-

127

111

-

Business structure improvement expenses
Other
Total extraordinary loss
Income (loss) before income taxes

8

88

310

1,125

1,582

3,835

Income taxes-current

560

713

Income taxes-deferred

(61)

535

Total income taxes

498

1,248

-

2,586

Income before minority interests
Minority interests in income
Net income (loss)

-4-

37

15

1,046

2,571

Consolidated Statements of comprehensive income
Millions of yen
FY2009FY2010

Apr'09-Mar'10

Apr'10-Mar'11
-

2,586

Valuation difference on available-for-sale securities-(1)

Deferred gains or losses on hedges-

45

Foreign currency translation adjustment

-

(811)

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

-

(77)

Other comprehensive income

-

(845)

-

1,741

Comprehensive income attributable to owners of the parent

-

1,731

Comprehensive income attributable to minority interests-

9

Income before minority interests
Other comprehensive income

Comprehensive income（Comprehensive income attributable to）-5-Consolidated Statements of Changes in Net Assets
Millions of yen
FY2009Apr'09-Mar'10
Shareholders' equity
Capital stock
Beginning balance
Changes of items during the period
Issuance of new shares
Total changes of items during the periodEnding balance
Capital surplus
Beginning balance
Changes of items during the period
Issuance of new shares
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
Issuance of new shares
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
Issuance of new shares
Net income(loss)
Purchase of treasury stock
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance-6-

FY2010
Apr'10-Mar'11

22,75628,3015,544
5,544
28,301

28,301

17,167

22,622

5,455
5,455
22,622

22,622(48,197)(47,151)

1,046
1,046
(47,151)

2,571
2,571
(44,580)

(38)

(40)

(2)
(2)
(40)

(1)
(1)
(41)

(8,312)

3,732

10,9991,046(2)
12,044
3,732

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

6

5

(1)
(1)
5

(1)
(1)
3

-

(45)

(45)
(45)
(45)

45
45
-

(777)

(1,033)

(255)
(255)
(1,033)

(883)
(883)
(1,916)(770)(1,073)

(302)
(302)
(1,073)

(839)
(839)
(1,912)

548

599

51
51
599

9
9
608

(8,534)

3,258

10,999
1,046
(2)
(250)
11,793
3,258

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

Consolidated Statements of Cash Flows
Millions of yen
FY2009FY2010

Apr'09-Mar'10

Apr'10-Mar'11

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

1,582

3,835

Depreciation and amortization

2,433

3,664

Impairment loss

191

304

Loss (gain) on liquidation of subsidiaries and affiliates

-

(423)

Subsidy income

-

(246)

Gain on donation of non-current assets

-

(117)

Loss on disaster-

430

Loss on change of contract-

127

Equity in (earnings) losses of affiliates

152

50

(1,610)(329)

Increase (decrease) in allowance for doubtful accounts

54

(48)

Interest and dividends income

(20)

(19)

Interest expenses

229

234

Foreign exchange losses (gains)

30

7

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

(49)

4

Loss on retirement of non-current assets

175

434

Loss (gain) on sales of stocks of subsidiaries and affiliates

(39)

-

Stock issuance cost

53

-

(189)

(759)

515

(1,021)

Increase (decrease) in provision for retirement benefits

Amortization of negative goodwill
Decrease (increase) in notes and accounts receivable-trade
Decrease (increase) in inventories
Increase (decrease) in notes and accounts payable-trade
Increase (decrease) in accrued expenses(1,171)

(499)

(189)

(1,532)946

233(2,216)731

Subtotal

879

5,063

Interest and dividends income received

20

19

Proceeds from subsidy-

246

Interest expenses paid

(257)

(208)

Income taxes paid

(430)

(732)

Change of contract paid

-

(127)

Other, net

-

24

211

4,283

Payments into time deposits

(15)

(15)

Proceeds from withdrawal of time deposits

22

15

Purchase of property, plant and equipment(913)(2,503)

Other, net

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

Proceeds from sales of property, plant and equipment

129

555

Purchase of intangible assets

(73)

(467)

Purchase of investment securities

(4)

(23)

Proceeds from sales of investment securities

6

16

Purchase of investments in subsidiaries resulting in change in scope of consolidation
Proceeds from sales of stocks of subsidiaries and affiliates
Other, net
Net cash provided by (used in) investing activities(4,798)

-

150

-

(9)

(82)

(5,505)(2,505)

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable(4,894)(4,108)

Repayment of long-term loans payable

(395)

(357)

Proceeds from issuance of common stock

10,999-Payments for issuance of common stock

(53)

-

Purchase of treasury stock

(2)

(1)

Repayments of finance lease obligations

(328)

(247)

Net cash provided by (used in) financing activities

5,325(4,713)

Effect of exchange rate change on cash and cash equivalents

(124)

(319)

Net increase (decrease) in cash and cash equivalents(92)(3,254)

Cash and cash equivalents at beginning of period

7,504

7,411

Cash and cash equivalents at end of period

7,411

4,156

-7-

Consolidated Business Segment Information
Millions of yen
FY2009 Apr'09-Mar'10
Ⅰ Net sales and Operating income

Electronic
Materials

Batteries

Total

Elimination

Consolidated

68,447

Net sales
Unaffiliated customers

37,67330,77368,447

-

-

-

-

-

-

Total

37,67330,77368,447-68,447

Selling, general and administrative expenses

38,13027,91866,048-66,048

(456)

2,855

2,398

-

2,398

Intersegment

Operating income (loss)
Ⅱ Aseets,Depreciation,Impairment loss and Capital expenditure
Assets

19,16942,83962,0082,506

64,515

Depreciation

988

1,444

2,433

-

2,433

Impairment loss

191

-

191

-

191

Capital expenditure

351

716

1,068

-

1,068

Consolidated Geographic Segment Information
Millions of yen
FY2009 Apr'09-Mar'10
Ⅰ Net sales and Operating income

Japan

North
America

Asia

EuropeTotal

Elimination

Consolidated-

68,447

Net sales
Unaffiliated customers

38,64025,726

2,167

1,913

68,447

Intersegment

5,600

7,108

68

42

12,819(12,819)-

Total

44,24032,835

2,235

1,955

81,266(12,819)

68,447

Selling, general and administrative expenses

42,521

31,853

2,189

1,973

78,538(12,489)

66,048Operating income (loss)

1,719

981

46

(18)

2,728

(329)

2,398

Ⅱ Aseets

60,862

22,337

2,070

1,116

86,387(21,871)

64,515Net Overseas Sales by Customer's Geographic Location
Millions of yen
FY2009 Apr'09-Mar'10

Ⅰ Total sales to foreign customers

Other
Countries

North
America

Asia

Total

23,088

4,856

4,755

33.7%

7.1%

7.0%

Ⅱ Consolidated net sales
Ⅲ Percentage of sales to foreign customers to consolidated net sales

32,69968,447
47.8%

Consolidated Business Segment Information
Millions of yen
FY2009 Apr'09-Mar'10
Business Segments Reported
Electronic
Materials
Total

All companies

Total

Ajustments

Consolidated
Statements

68,447

Batteries

Net sales
Unaffiliated customers

30,81037,63768,447-68,447

-

-

-

-

-

-

-

-

30,81037,63768,447-68,447-68,447

Intersegment
Total
Segment income

2,243

155

2,398

-

2,398

-

2,398

Segment assets

43,067

18,94162,0082,506

64,515-64,515

1,491

942

2,433

-

2,433

-

2,433

-

1,258

1,258

-

1,258

-

1,258

770

298

1,068

-

1,068

-

1,068

Ajustments

Consolidated
Statements

94,431Other items
Depreciation
Amount of investment to equity method-treasury stock
Increase in property, plant and equipment and intangible assets

FY2010 Apr'10-Mar'11
Business Segments Reported
Electronic
Materials
Total

All companies

Total

Batteries

Net sales
Unaffiliated customers
Intersegment
Total

57,651

36,77994,431-

94,431

-

-

-

-

-

-

-

-

57,651

36,77994,431-

94,431-

94,431

Segment income

3,909

486

4,396

-

4,396

-

4,396

Segment assets

43,34014,542

57,882

1,075

58,958-58,958

3,061

603

3,664

-

3,664

-

3,664

-

1,130

1,130

-

1,130

-

1,130

2,678

927

3,606

-

3,606

-

3,606

Other items
Depreciation
Amount of investment to equity method-treasury stock
Increase in property, plant and equipment and intangible assets-8-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, 2011, by the implementation of economic growth of the Asian countries
and economic measures and monetary policies by many governments, the world economy washeaded for recovery in the first half. However, economic recovery has appeared to be pausing as
the effect of the stimulus plan wears off in the latter half. In addition, the effect of the Great
East Japan Earthquake to domestic and international economy was not measurable and so it
became a tough situation.
Under these circumstances, FDK executed the first-year projection of three year businessplan (START10). We strengthened the battery business generating large profits and lithium-ion
capacitors, which expected future growth, to carry out a new investment to extend mass
production system. As for electronic device business, we have worked to streamline and further
efficiency.
As for FDK’s business results, net sales were 94,431 million yen, a substantial increase of
25,983 million yen from the previous fiscal year. Operating income was 4,135 million yen,increased 2,282 million yen from the previous fiscal year due to the large profit expansion ofbattery business and extended the profit of the electronic device business. Income before income
taxes was 3,853 million yen, increased 2,253 million yen from the previous fiscal year and net
income was 2,571 million yen increased 1,524 million yen from the previous fiscal year due tothe post of 824 million yen as extraordinary profit which included a gain on liquidation ofsubsidiaries and affiliates and the post of 1,125 million yen as an extraordinary loss which
included loss on disaster.
The divisional sales overview is as follows.

2. Battery Business
Sales of alkaline batteries decreased from the previous year due to some sales decline by the
tough competition in global market though there was a temporary demand growth by the Great
East Japan Earthquake. Sales of Ni-MH batteries increased their sales in their broad range ofapplications, such as shavers, communication equipment, and son on, and in OEM products inJapan and overseas. Sales of lithium batteries were sold for mobile phones, laptop computers,
digital cameras. Sales of cylindrical lithium catteries were increased for emergency devices andsecurity gizmos and various meters such as gas and electric which required 10 years expected
life. By adding sales amount of these two batteries in this fiscal year, total sales of battery
business, total sales of battery business was largely increased.
As a result, sales for the battery business were 57,651 million yen, an increase of 26,877
million yen from the previous fiscal year.

3. Electronic Device Business
Sales of coil devices remained the same as the previous year due to the decrease in sales forautomobiles in the latter half though it was much increased in the first half. Sales of
piezoelectric components increased from the previous year Sales of multilayer power inductors
and toner remained the same as the previous year. Sales of optical devices decreased from theprevious year due to the decline in market needs on new submarine cable settlements. Sales ofsignal processing modules for LCDs increased from the previous year due to the increase in-9-

order by market expansion. Sales of switching power supplies decreased from the previous year
due to a sales decline for servers and storages.
As a result, sales for the electronic device business were 36,779 million yen, a decrease of 893
million yen from the previous fiscal year.

4. Forecast for the Fiscal Year Ending March 31, 2012
Regarding consolidated financial forecasts for the fiscal year ending March 31, 2012, due tothe difficulty of determine the effects from the Great East Japan Earthquake, FDK will
postpone the announcement of the year ending March 31, 2012.
Further detail will be announced as soon as it becomes available.

(2) Analysis of Financial Condition
1. Status of Assets, Liabilities and Net Assets
Total assets at the end of FY2010 decreased 5,557 million yen from the end of the previous
fiscal year to 58,958 million yen. Current assets decreased 3,656 million yen to 35,366 million
yen. Noncurrent assets decreased 1,901million yen to 23,591 million yen.
The principal causes for decreased current assets was a 3,254 million yen decrease in cash
and deposits. The principal cause for decreased noncurrent assets was a 1,537 million yen
decrease in total property, plant and equipment.
Total liabilities at the end of FY2010 decreased 7,297 million yen from the end of the previous
fiscal year to 53,959 million yen. Current liabilities decreased 6,212 million yen from the end of
the previous fiscal year to 42,823 million yen. Noncurrent liabilities decreased 1,085 million yen
from the end of the previous fiscal year to 11,136 million yen.
The principal cause of decreased current liabilities was a 4,144 million yen decrease in
short-term loans payable and a 2,349 million yen decrease in notes and accounts payable-trade.
The principal cause for decreased non-current liabilities was a 759 million yen decrease innegative goodwill.
The interest-bearing debt decreased 4,252 million yen from the end of the previous fiscal year
to 20,410 million yen.
Total net assets at the end of FY2010 increased 1,740 million yen from the end of the previous
fiscal year to 4,998 million yen. The main factors for the increase in total net assets were a2,571million yen increase in retained earnings by posting a net income of FY2010, though there
was a 883 million decrease in foreign currency translation adjustment.

2. Cash Flow Condition
Net cash used in operating activities increased 4,283 million yen from the beginning of thisfiscal year due to an increase in cash and cash equivalents (cash) by posting income before
income taxes and depreciation and amortization, though some of the decrease in cash resulted
from an increase in notes and accounts receivable trade and a decrease in notes and accounts
payable-trade.
Net cash used in investment activities decreased 2,505 million yen from the beginning of thisfiscal year due to the purchase of property, plant and equipment.
Net cash used in financing activities decreased 4,713 million yen from the beginning of thisfiscal year due to the net decrease in short-term loans payable.
As a result, the balance of cash and cash equivalents at March 31, 2011 was 4,156 million yen,a decrease of 3,254 million yen from the beginning of the fiscal year.

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