FOR IMMEDIATE RELEASE
April 26, 2013
Fiscal Year 2012 Consolidated Financial Results(April 1, 2012 to March 31, 2013)
FDK CORPORATION
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: hirano@fdk.co.jp
Date of the ordinary general shareholder's meeting: June 26, 2013
Filing date of Yukashoken Hokokusho: June 26, 2013
The Consolidated Financial Results is unaudited / U.S. GAPP is not applied(URL: http://www.fdk.com)

1. Consolidated Results for FY2012 ended March 31, 2013
a. Consolidated Statements of Income
Yen(millions)

Net Sales
Operating Income(loss)
Ordinary Income
Net Income

FY2011(4/1/11-3/31/12)
80,334136
105
359

Amounts Per Share of Common Stock:
Basic Earnings
Diluted Earnings

1.65 yen
1.29 yen

FY2012(4/1/12-3/31/13)
73,547
(526)
174
453

Change(%)-8.4 %
65.0
26.1

2.09 yen
1.63 yenb. Consolidated Financial Position
Yen(millions)

Total Assets
Total Net Assets
Shareholders' Equity
Shareholders' Equity Ratio
Shareholders' Equity
Per Share

As of Mar. 31,
2012
58,427
6,993
6,661
8.0%
(29.00) yen

As of Mar. 31,
2013
58,720
8,150
7,114
11.1%
(20.61) yen

c. Consolidated Statements of Cash FlowsYen(millions)

Net cash used inoperating activities
Net cash used ininvesting activities
Net cash used infinancing activities
Cash and cash equivalents
at end of period

FY2011(4/1/11-3/31/12)
2,355

FY2012(4/1/12-3/31/13)
1,089(1,971)(1,737)

1,368

(430)

5,875

5,297

Consolidated Subsidiaries
Unconsolidated Subsidiaries (equity method applied)
Affiliates (equity method applied only)

15 companies
3 companies
1 companies

U.S.Dollars(millions)
FY2012(4/1/12-3/31/13)$782.50($5.60)
$1.85
$4.82

2.2 cent
1.7 cent

d. Net Sales by Business Segment

Batteries
Electronic Devices
Total

Yen
(millions)
FY2011(4/1/11-3/31/12)
52,09028,24480,334Yen(millions)
FY2012(4/1/12-3/31/13)
45,671
27,87673,547

U.S.Dollars(millions)
FY2012(4/1/12-3/31/13)$485.91$296.58$782.50(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=93.99 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, 2014
(Million of yen, except per share data)

Net Sales
Operating Income
Ordinary Income
Net Income
Net Income per ShareFY201380,000
2,200
1,900
1,000
4.60 yen

Change from FY2012(%)
8.8 %
-%
989.2
120.6 %-

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.: 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, 2013: 217,505,884 shares
March 31, 2012: 217,505,884 shares
2) Number of treasury shares at the end of fiscal year
March 31, 2013: 233,228 shares
March 31, 2012: 229,956 shares3) Weighted average number of shares outstanding during the fiscal year ended March 31 of each year
March 31, 2013: 217,274,434 shares
March 31, 2012: 217,277,191 shares

Consolidated Balance Sheets
Millions of yen
FY2011Mar 31, 2012
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
Liabilities
Ci iii
Current
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

FY2012
Mar 31, 2013

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

5,307
20,704
2,386
2,937
1,677
132
1,669
(55)
34,761

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

8,038
6,550
884
3,437
1,238
1,226
21,376
778

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

161
1
218
1,422
(0)
1,804
23,95958,42758,72015,911
21,277
297
1,864
152
156
2,050
41,71015,565
21,279
363
1,254
243
137
2,569
41,414

402
3
6,824
2,087
405
9,723
51,433

1,091
3
6,313
1,328
419
9,156
50,57028,301
22,622(44,220)
(41)
6,661

28,301
22,622(43,767)
(42)
7,114

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

18
(609)
(591)
1,628
8,150

58,42758,720Consolidated Statements of Income
Millions of yen
FY2011FY2012

Apr'11-Mar'12

Apr'12-Mar'13

Net sales

80,33473,547

Cost of sales

70,021

63,764Gross profit

10,313

9,783

Selling, general and administrative expenses

10,177

10,310136(526)Operating income (loss)
Non-operating income
Interest income2214

Foreign exchange gains

-

325

759

759

Amortization of negative goodwill
Rent income

17

23

Other

216

121

1,015

1,243

Interest expenses

163

163

Foreign exchange losses

344-

Total non-operating income
Non-operating expenses

Equity in losses of affiliates

98

96

Loss on retirement of non-current assets

248

92

Sales discounts

68

57

Other

123

133

1,046

542

105

174

Subsidy

449

56

Reversal of provision for compensation for damage

117-

Reversal of provision for loss on disaster

105-

Gain on sales of land85-

Total extraordinary income

757

56

Total non-operating expenses
Ordinary income
Extraordinary income

Extraordinary loss
Settlement package-

239

Cost of corrective measures for products

227-

Impairment loss

198-

Total extraordinary loss

426

239

Income (loss) before income taxes

437

(7)

Income taxes-current

127

246

Income taxes-deferred

107

(36)

Total income taxes

234

209

Income (loss) before minority interests

202

(217)

Minority interests in income

(156)

(670)

Net income

359

453

Consolidated Statements of comprehensive income
Millions of yen

Income (loss) before minority interests

FY2011FY2012

Apr'11-Mar'12

Apr'12-Mar'13

202

(217)

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment
Share of other comprehensive income of associates accounted for using equity method

6

8

(87)

1,208

27

156

(53)

1,373

149

1,156

Comprehensive income attributable to owners of the parent

310

1,822

Comprehensive income attributable to minority interests

(161)

(666)

Other comprehensive income
Comprehensive income（Comprehensive income attributable to）

Consolidated Statements of Changes in Net Asset
Millions of yen
FY2011
Apr'11-Mar'12
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
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
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
Purchase of treasury stock
Net changes of items other than shareholders' equity
Total changes of items during the periodEnding balance

FY2012
Apr'12-Mar'13

28,301

28,301

28,301

28,301

22,622

22,622

22,622

22,622(44,580)(44,220)359
359(44,220)453
453(43,767)

(41)

(41)

(0)
(0)
(41)

(0)
(0)
(42)

6,302

6,661

359
(0)
359
6,661

453
(0)
452
7,114

3

9

6
6
9

8
8
18

-

-

-

-

(1,916)(1,971)(55)(55)(1,971)

1,361
1,361
(609)

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

1,369
1,369
(591)

608

2,294

1,685
1,685
2,294

(666)
(666)
1,628

4,998

6,993

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

453
(0)
703
1,156
8,150

Consolidated Statements of Cash Flows
Millions of yen
FY2011FY2012

Apr'11-Mar'12

Apr'12-Mar'13

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

437

(7)

3,357

2,955

Impairment loss

198-

Subsidy income

(449)

(56)

Increase (decrease) in provision for retirement benefits

(624)

(510)

Increase (decrease) in allowance for doubtful accounts

(2)

(8)

Interest and dividends income

(52)

(16)

Interest expenses

163

163

1

(10)

Foreign exchange losses (gains)
Equity in (earnings) losses of affiliates

98

96

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

(83)

(10)

Loss on retirement of non-current assets

248

92

Amortization of negative goodwill

(759)

(759)

-

239

Settｌement package
Decrease (increase) in notes and accounts receivable-trade

1,883

792

Decrease (increase) in inventories

(45)

1,090

Increase (decrease) in notes and accounts payable-trade(690)(1,867)

Increase (decrease) in accrued expenses

(969)

171

Other, net

(285)

(760)

Subtotal

2,426

1,591

Interest and dividends income received

52

16

Proceeds from subsidy

449

56

Interest expenses paid

(204)

(163)

Income taxes paid

(368)

(172)

-

(239)

2,355

1,089

(312)

(19)

Settｌement package paid
Net cash provided by (used in) operating activities
Net cash provided by (used in) investing activities
Payments into time deposits
Proceeds from withdrawal of time deposits

15

312

Purchase of property, plant and equipment(3,594)(2,903)

Proceeds from sales of property, plant and equipment

119

951

Purchase of intangible assets

(49)

(84)

(3)

(3)

1,846

-

Purchase of investment securities
Proceeds from sales of stocks of subsidiaries and affiliates
Other, net
Net cash provided by (used in) investing activities

6

8(1,971)(1,737)

1,662

(93)

Net cash provided by (used in) financing activities
Net increase (decrease) in short-term loans payable
Purchase of treasury stock

(0)

(0)

Repayments of finance lease obligations

(293)

(337)

Net cash provided by (used in) financing activities

1,368

(430)

Effect of exchange rate change on cash and cash equivalents

(34)

501

Net increase (decrease) in cash and cash equivalents

1,718

(577)

Cash and cash equivalents at beginning of period

4,156

5,875

Cash and cash equivalents at end of period

5,875

5,297

Consolidated Business Segment Information
Millions of yen
FY2011 Apr'11-Mar'12
Business Segments Reported
Electronic
Batteries
Materials

Ajustments

Consolidated
Statements

80,334-80,334Total

Net sales
Unaffiliated customers
Intersegment
Total

52,09028,244

-

-

-

-

-

52,09028,24480,334-80,334

Segment income

(106)

243

136

-

136

Segment assets

42,122

15,22657,348

1,079

58,427

Other items
Depreciation

2,902

454

3,357

-

3,357

-

1,059

1,059

-

1,059

2,669

870

3,539

-

3,539

Ajustments

Consolidated
Statements

73,547

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

FY2012 Apr'12-Mar'13
Business Segments Reported
Electronic
Batteries
Materials

Total

Net sales
Unaffiliated customers

45,671

27,87673,547

-

-

-

-

-

-

Total

45,671

27,87673,547-73,547

Segment income(1,495)

968

(526)

-

(526)

Segment assets

40,77917,08957,869851

58,720Intersegment

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

2,484

470

2,955

-

2,955

-

1,119

1,119

-

1,119

2,300

1,241

3,541

-

3,541

Business Results(1) Analysis of Consolidated Business Results
1.1 Overview
The business environment of the FDK Group (hereinafter called “FDK”) during the fiscal year ending
March 31, 2013 remained in severe condition due to the high appreciation of yen and the economic slump.
Although this fiscal year was the final year of the START 10, which is the midterm management plan
made three years ago, FDK had had a hard time achieving its target as there were some unforeseen
circumstances such as the Great East Japan Earthquakes and floods in Thailand.
Under these circumstances, FDK developed the new midterm business plan, starting from FY2013(FY2013-15) and executed some of these measures ahead of schedule. In this plan, FDK intended tostrengthen its business foundation to achieve the business plan and implemented the growth strategy.
As for measures to strengthen FDK’s business structure, FDK made its best effort to lower the
break-even point by cost reduction of all products, adoption a VE technology with focus on precious metalmaterials such as rare earths, reduction of material cost by reducing purchasing cost, review ofcommercial distribution, improvement of productivity, and reduction of fixed costs by the thoroughelimination of waste. To do so, FDK aimed to transform the business structure to bear profits amidst
sluggish sales and sought to improve the cash flow to strengthen its financial base.
In terms of growth measurement, we worked on the commercialization of the power storage systemusing Ni-MH batteries, the launch of new plant for ultrahigh performance ferrite in the grounds of Sanyo
Plant, and the market of new products of alkaline batteries and Ni-MH batteries. However, the fruitfulresults of these growth strategies will not be realized until FY2013 or later. Moreover, lithium-ion
capacitor has been taken some time to develop market as well.
As for FDK’s business results, net sales were 73,547 million yen (80,334 million yen in the previous
fiscal year). While the first half was 35,109 million yen, the second half was increased to 38,437 million
yen. Operating loss was 526 million yen (136 million yen of operating income in the previous year).
Although we have made an improvement in operating income/loss from the third quarter, it could notcover the operating loss of 1,626 million yen in the first half. Ordinary income was 174 million yen (105
million yen in the previous fiscal year). Net income was 453 million yen (358 million yen in the previous
fiscal year).
Ref: Quarterly Consolidated Financial Results
Net Sales
Operating Income-893
16,509FY2012 1Q-733
18,600FY2012 2Q
351
18,530FY2013 3Q
748
19,907FY2014 4Q

Ordinary Income
-993
-730
874
1,023

(Million yen)
Net Income
-790
-775
872
1,146

The divisional sales overview is as follows.

1.2 Battery Business
Sales of alkaline batteries fairly decreased from the previous fiscal year due to the sluggish domestic
and global sales for consumer and OEM markets. Sales of Ni-MH batteries and lithium batteries fairly
decreased from the previous year due to decrease in sales under the poor market. However, the sales forbattery business in the second half increased by 1,980 million yen from the first half to 23,826 million
yen.
As a result, sales for the battery business were 45,671 million yen (52,090 million yen in the previous
fiscal year).

1.3. Electronic Device Business
Sales of switching power supplies for servers/storages and optical devices for submarine
communication cables decreased from the previous year due to the sluggish investment in information
infrastructure. Sales of coil devices did well as the previous year for hybrid cars; sales of ceramic parts
also did well due to the market expansion. Sales of high frequency devices and mobile modules steadily
increased from the previous year due to the market expansion of smartphones. Sales of dc-dc converters(voltage converter) steadily did well for servers and storages. Sales of signal processing modules for
LCDs did well especially for large LCD televisions and tablet devices as the sales of LCD panel products
recovered from its sluggish condition.
As a result, sales for the electronic device business were 27,876 million yen (28,244 million yen in theprevious fiscal year). Sales of the second half increased by 1,348 million yen from the first half to 14,612
million yen.

2. Forecast for the Fiscal Year Ending March 31, 2014
Although super-strong yen was corrected by the market expectations from the implemented economic
policy and fiscal policy by Japanese government and Bank of Japan to break away from deflation andeconomic recovery has seen such a large increase in stock prices, it is expected to take a long time torecover the real economy.
FDK aims to achieve net sales of 110 million yen and operating margin of over 7% in FY2015, which
are targeted in the midterm business plan starting from FY2013 (FY2013 to FY2015). In this plan, FDK
would strengthen its existing business and aggressively introduce new products for home, office and social
infrastructure of public facilities in future society, whose products meet the social needs for electric
storage devices and use the synergy effect of the battery business and electronic device business.
For the second half of FY2012, we consecutively posted a profit from October to March. Without
breaking this trend, we will continue to manage posting a profit monthly in FY2013.As for the forecast for
the FY2013, FDK targets net sales at 80,000 million yen, operating income at 2,200 million yen, ordinary
income at 1,900 million yen and net income at 1,000 million yen. Regarding the exchange rate for
FY2013, FDK set a 93 yen per US dollar and a 120 yen per euro.

(2) Analysis of Financial Condition
2.1. Status of Assets, Liabilities and Net Assets
Total assets at the end of FY2012 increased by 293 million yen (0.5%) from the end of the previous
fiscal year to 58,720 million yen. Current assets decreased by 512 million yen (-1.5%) from the end of theprevious fiscal year to 34,761 million yen. Noncurrent assets increased by 806 million yen (3.5%) fromthe end of the previous fiscal year to 23,959 million yen. The principal causes for decreased current assets
were an 870 million yen decrease in cash and deposits and a 618 million yen decrease in work in process,though there was a 950 million yen increase in notes and accounts receivable-trade. The principal cause
for increased noncurrent assets was a 776 million yen increase in lease assets, net.
Total liabilities at the end of FY2012 decreased by 863 million yen (-1.7%) from the end of the previous
fiscal year to 50,570 million yen. Current liabilities decreased by 296 million yen (-0.7%) from the end of
the previous fiscal year to 41,414 million yen.
Noncurrent liabilities decreased by 566 million yen (-5.8%) from the end of the previous fiscal year to9,156 million yen.
The principal cause of decreased current liabilities was a 609 million yen decrease in accounts
payable-other. The principal causes for decreased non-current liabilities were a 759 million yen decreasein negative goodwill and a 510 million yen decrease in provision for retirement benefits, though there wasa 688 million yen increase in lease obligations.
The interest-bearing debt increased by 757 million yen from the end of the previous fiscal year to
22,734 million yen.
Total net assets at the end of FY2012 increased by 1,156 million yen from the end of the previous fiscal

year to 8,150 million yen.
The main factors for the increase in total net assets were a 1,361 million yen increase in foreign
currency translation adjustment and a 453 million yen increase in retained earnings by posting a net
income of FY2012, though there was a 666 million yen decrease in minority interests.

2.2 Cash Flow Condition
Net cash used in operating activities increased by 1,089 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 a decrease in inventories, though there was a decrease in cash by a decrease in notes and accounts
payable-trade.
Net cash used in investment activities decreased by 1,737 million yen from the beginning of this fiscal
year by purchasing the property, plant and equipment.
Net cash used in financing activities decreased by 430 million yen from the beginning of this fiscal year
due to the repayment of finance lease obligations.
As a result, the balance of cash and cash equivalents in March 31, 2013 was 5,297 million yen, adecrease of 577 million yen from the beginning of the fiscal year.
Ref: Changes in cash flow indicators
FY2008FY2009FY2010FY2011Equity ratio (%)
-19.7
4.1
7.4
8.0
Market value equity ratio (%)
37.9
46.1
49.4
32.7
Debt to cash flow ratio (%)
12.9
117.9
4.8
9.3
Interest coverage ratio (%)
4.4
0.9
18.2
14.4
Note:
Equity ratio = Total shareholders’ equity/Total assets
Market value equity ratio = Market capitalization/Total assets
Debt to cash flow ratio = Interest-bearing debt/Net cash used in operating activities
Interest coverage ratio = Net cash used in operating activities/interest expense

FY2012
11.1
28.1
20.9
6.7