FOR IMMEDIATE RELEASE
January 28, 2016
Consolidated Financial Results for the Third Quarter Ended December 31, 2015
(April 1, 2015 to December 31, 2015)
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 : Corporate Communication Office, General Affairs Dept.
E-mail: prir-tyo@fdk.co.jp
The Consolidated Financial Results is unaudited/U.S. GAPP is not applied

1. Consolidated Results for the Nine-Months Period Ended Devember 31, 2015a. Consolidated Statements of Income
Yen(millions)
Nine months
Nine months
ended Dec. 31,
ended Dec. 31,
2014
2015
Net Sales
56,68962,413Operating Income
1,397
2,189
Ordinary Income (Loss)
1,616
2,096
Profit attributable to owners
1,261
1,755
of parent

Amounts Per Share of Common Stock:
Basic Earnings
Diluted Earnings

4.50 yen- yen

6.27 yen- yen

Change (%)
10.1
56.7
29.7
39.2

(URL: http://www.fdk.com)

Yen(millions)
FY2014,
ended Mar. 31,
2015
76,365
2,211
504
961

3.43 yen- yen

U.S.Dollars(millions)
Nine months
ended Dec. 31,
2015$517.78$18.16$17.39$14.56

5.20 cent- centb. Net Sales by Business Segment

Batteries
Electronic Devices
Total

Yen
(millions)
Nine months
ended Dec. 31,
2014
37,95918,73056,689Yen(millions)
Nine months
ended Dec. 31,
2015
39,40023,01262,413c. Consolidated Financial Position

Total Assets
Total Net Assets
Shareholders' Equity
Shareholders' Equity Ratio

Yen(millions)
As of Mar. 31,
As of Dec. 31,
2015
2015
57,25659,594
8,578
9,949
8,969
10,72313.8 %
15.5 %

Yen(millions)
FY2014,
ended Mar. 31,
2015
50,90925,45576,365

U.S.Dollars(millions)
Nine months
ended Dec. 31
2015$326.86$190.91$517.78

d. Consolidated Statements of Cash Flows

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

Yen(millions)
Nine months
Nine months
ended Dec. 31,
ended Dec. 31,
2014
2015
2,675
4,112
(1,419)(1,439)(972)(1,879)

6,053

5,509

(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 120.54 yen=$1
3. The percentage in this statement presents rate of change compared with the same period last year.

2. Consolidated Financial Forecast for the fiscal year 2015 ending March. 31, 2016
(Million of yen, except per share data)
FY2015
Change from FY2014
FY2014
Net Sales (Loss)
81,00076,365
6.1 %Operating Income (Loss)
2,300
2,211
4.0
Ordinary Income
1,700
504
237.1 %
Profit attributable to owners of parent
1,300
961
35.2 %Net Income per Share
4.64 yen
3.43 yen
Note for the use of the above forecasted business results.
The financial forecast described above is based upon information available as of October 30, 2015.
3. Others(1) Changes in material subsidiaries during the period: No
Consolidated Subsidiaries
14 companies
Unconsolidated Subsidiaries (equity method applied)
3 companies
Affiliates (equity method applied only)
1 companies(2) Adoption of accounting procedures specific to the preparation of quarterly consolidated financial statements: No(3) 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(4) Number of shares outstanding (common stock)1) Number of shares outstanding at the end of periods.
December 31, 2015: 280,363,026 shares
March 31, 2015: 280,363,026 shares
2) Number of treasury shares at the end of each period
December 31, 2015: 259,126 shares
March 31, 2015: 250,566 shares3) Weighted average number of shares outstanding in each period.
December 31, 2015: 280,107,859 shares December 31, 2014: 280,118,159 shares

Consolidated Balance Sheet
Millions of yen
FY2014Mar. 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
Leased 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 shares
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

Q3/FY2015
Dec. 31, 2015

4,758
20,993
3,307
2,422
1,909
188
2,560
(99)
36,0395,509
21,418
3,513
2,988
2,197
146
3,043
(96)
38,719

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

7,354
4,609
1,000
2,731
2,013
700
18,410
555

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

170
2
580
79
1,077
(0)
1,909
20,87559,594

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

17,21115,800
547
3,641
301
2,898
40,400

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

1,300
199
4,985
2,639
119
9,244
49,64528,301
22,622(41,910)
(44)
8,969

28,301
22,622(40,154)(45)
10,72334
2,521(3,625)(1,069)678
8,578
57,25620
1,936(3,442)(1,484)710
9,949
59,594

Consolidated Statement of Income
Millions of yen
Q3/FY2014

Q3/FY2015

Apr' 14 - Dec' 14

Apr' 15 - Dec' 15

Net sales

56,68962,413

Cost of sales

46,77051,365Gross profit

9,919

11,047

Selling, general and administrative expenses

8,521

8,857

Operating income

1,397

2,189

Interest income30

25

Foreign exchange gains

491

335

Amortization of negative goodwill

569

Rent income

149

48

Other

107

130

1,348

540

Interest expenses

106

96

Share of loss of entities accounted for using equity method

772

227

Loss on retirement of non-current assets

45

187

Other

205

121

1,130

633

1,616

2,096

Non-operating income

Total non-operating income-

Non-operating expenses

Total non-operating expenses
Ordinary income
Extraordinary income
Subsidy income

147-

Gain on transfer of business70-

Total extraordinary income

217-

Income before income taxes

1,834

2,096

Income taxes-current

312

248

Income taxes-deferred

217

58

Total income taxes

529

307

1,304

1,789

42

33

1,261

1,755

ProfitProfit attributable to non-controlling interests
Profit attributable to owners of parent

Consolidated Statement of comprehensive income
Millions of yen
Q3/FY2014

Q3/FY2015

Apr' 14 - Dec' 14

Apr' 15 - Dec' 15

1,304

1,789

6

(16)

2,060

(533)

Remeasurements of defined benefit plans, net of tax

62

183

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

160

(50)

Other comprehensive income

2,289

(417)

Comprehensive income

3,594

1,372

3,526

1,340

67

31

ProfitOther comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment(Comprehensive income attributable to)Comprehensive income attributable to owners of parent
Comprehensive income attributable to non-controlling interests

Consolidated Statement of Cash Flows
Millions of yen
Q3/FY2014

Q3/FY2015

Apr'14 - Dec'14

Apr'15 - Dec'15

Cash flows from operating activities
Income before income taxes

1,834

2,096

Depreciation and amortization

2,014

1,816

Increase (decrease) in net defined benefit liability

(179)

(198)

Increase (decrease) in allowance for doubtful accounts

35

(1)

Interest and dividend income

(33)

(27)

Interest expenses

106

96

Foreign exchange losses (gains)

(19)

(0)

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

772

227

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

(1)

(0)

Loss on retirement of non-current assets

45

187

Amortization of negative goodwill

(569)

-

Subsidy income

(147)

-

Loss (gain) on transfer of business

(70)

-

Decrease (increase) in notes and accounts receivable-trade

(251)

(846)

Decrease (increase) in inventories(669)(1,118)

Increase (decrease) in notes and accounts payable-trade

1,307

2,568

Increase (decrease) in accrued expenses

(337)

(390)

Other, net

(936)

26

Subtotal

2,898

4,436

Interest and dividend income received

33

27

Proceeds from subsidy income

147-

Interest expenses paid

(104)

(97)

Income taxes paid

(298)

(254)

Net cash provided by (used in) operating activities

2,675

4,112

(1,519)(2,112)

Proceeds from sales of property, plant and equipment

357

724

Purchase of intangible assets

(11)

(65)

Purchase of investment securities

(3)

(3)

-

41

Purchase of shares of subsidiaries and associates

(299)

(0)

Proceeds from transfer of business100-

Other, net

(43)

(23)

(1,419)(1,439)(610)(1,480)(1)(1)

Repayments of finance lease obligations

(361)

(398)

Net cash provided by (used in) financing activities(972)(1,879)

742

(173)

1,024

619

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

Proceeds from sales of investment securities

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

Effect of exchange rate change on cash and cash equivalents
Net increase (decrease) in cash and cash equivalents-

Increase in cash and cash equivalents resulting from merger

131

Cash and cash equivalents at beginning of period

5,029

4,758

Cash and cash equivalents at end of period

6,053

5,509

Consolidated Business Segment Information
Millions of yen
Q3/FY2014 Apr' 14 - Dec' 14
Business Segments Reported
Total

Electronic
Materials

Batteries

Adjustments

Consolidated
Statement

Net sales
Unaffiliated customers

37,95918,73056,689-56,689

-

-

-

-

-

Total

37,95918,73056,689-56,689Segment income (loss)

1,735

(338)

1,397

-

1,397

Adjustments

Consolidated
StatementIntersegment

Q3/FY2015 Apr' 15 - Dec' 15
Business Segments Reported
Total

Electronic
Materials

Batteries

Net sales
Unaffiliated customers

39,400Intersegment

23,012-62,413--62,413

-

-

Total

39,40023,01262,413-62,413

Segment income (loss)

2,493

(303)

2,189

-

2,189

Business Results(1) Analysis of Consolidated Business Results
1.1 Overview
The business environment of the FDK Group (“FDK”) during the nine months ended December 31, 2015,
Japanese economy remained uncertain condition as the recovery in personal consumption was delay though therecovery in corporate earnings and improvement of employment was seen. In addition, there were some negative
factors such as instability of the European market and the slowing economic growth in China, though the U.S
economy continued in recovering trend due to the recovery of domestic consumptions.
Under these circumstances, FDK has continued to extend the sales of the FUJITSU alkaline battery series and
FUJITSU Ni-MH rechargeable battery series in Japan as well as overseas via the internet sales. As for Ni-MH
batteries, we strived to sell for industrial use such as Ni-MH batteries for small cell power supplies. As for lithium
batteries, we strived to sell for disaster-related goods, security goods, and automotive applications in North
American and European markets, where the demands for these items have strong demand. As for electronic
device business, FDK developed DC-DC power module which has achieved the industry's highest level of current
density, and strive to mass production the logger device with sensor. In addition, FDK developed the new
mid-term business plan 1618, starting from FY2016 (FY2016-18) and executed some of these measures.
As for FDK’s business results within the nine months in FY2015, net sales were 62,413 million yen, increased
by 5,723 million yen (10.1%) from the same period last 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 steadysales of signal processing modules for LCD displays for industrial and LCD televisions and joined power supply
business from Fujitsu Telecom Networks transferred on July 1.
With regard to profit and loss, operating income was 2,189 million yen, increased by 792 million yen (56.7%)
from the same period last year. It was achieved by the operating income expansion of Ni-MH rechargeable
batteries and lithium batteries by increased sales expansion, decline in the price of material and cost reduction.
Ordinary income was 2,096 million yen, by increased by 480 million yen (29.7%) from the same period last year.
It was achieved by the post of foreign exchange gain with the devaluation of the Chinese yuan in non-operating
income, though the share of loss of entities accounted for using equity method. Profit attributable to owners ofparent within the nine months in FY2015 was 1,755 million yen, increased by 493 million yen (39.2%) from thesame period last year.
Ref: Comparison of Consolidated Financial Results
Net Sales
Sales cost
ratio (%)
FY2011 1-3Q (9 months)
61,30487.3
FY2012 1-3Q (9 months)
53,63987.8
FY2013 1-3Q (9 months)
58,72983.9
FY2014 1-3Q (9 months)
56,68982.5
FY2015 1-3Q (9 months)
62,413
82.3
Compared to the same
5,723
-0.2
period last year

Operating
Income27-1,274
1,290
1,397
2,189

Ordinary
Income
-210
-849
1,312
1,616
2,096

(million yen)
Profit attributable toowners of parent
45
-693
902
1,261
1,755

792

480

493

The divisional sales overview is as follows.
1.2 Battery Business
Sales of alkaline batteries increased from the same period last year, due to has strived to the sales in Japan andglobal consumer market a new product that sale in Japan in the previous fiscal year and increased in sales OEM
products etc. in the global market. Sales of Ni-MH batteries increased from the same period last year due to theincrease in sales for global consumer markets, industrial and automotive use. Sales of power storage systems
increased from the same period last year due to the increase for backup use. Sales of lithium batteries went up
from the same period last year, due to the increase in sales for disaster-related goods, security goods, andautomotive applications in North American and European markets.

As a result, sales for the battery business were 39,400 million yen, increased by 1,440 million yen from the same
period last year.
1.3. Electronic Device Business
Sales of coil devices decrease from the same period last year, while the sales for automotive use steadily
increased, their sales for home appliances decreased. Sales of piezoelectric products decreased from the 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. Sales of signal processing modules for LCD displays increased from the same period last year, due to thesteady increase in sales for industrial, and LCD televisions.
As a result, sales for the electronic device business were 23,012 million yen, increased by 4,282 million yen fromthe same period last year.
(2) Analysis of Financial Condition
2.1 Status of Assets, Liabilities and Net Assets
Total assets at the end of nine months in FY2015 increased by 2,338 million yen (4.1%) from the end of theprevious fiscal year to 59,594 million yen. Current assets increased by 2,680 million yen (7.4%) from the end of
the previous fiscal year to 38,719 million yen. Non-current assets decreased by 341 million yen (-1.6%) from theend of the previous fiscal year to 20,875 million yen. The principal causes for increased current assets were a 751
million yen increase in cash and deposits, a 566 million yen increase in raw materials and supplies and a 425
million yen increase in notes and accounts receivable-trade.
Total liabilities at the end of nine months in FY2015 increased by 967 million yen (2.0%) from the end of theprevious fiscal year to 49,645 million yen. Current liabilities increased by 1,449 million yen (3.7%) from the endof the previous fiscal year to 40,400 million yen. Non-current liabilities decreased by 481 million yen (-5.0%)
from the end of the previous fiscal year to 9,244 million yen. The principal cause of increased current liabilities
was a 2,311 million yen increase in notes and accounts payable-trade and a 1,277 million yen increase in accounts
payable-other, though there was a 1,480 million yen decrease in short-term loans payable. The principal cause fordecreased non-current liabilities was a 523 million yen decrease in long-term accounts payable - other.
The interest-bearing debt decreased by 1,102 million yen from the end of the previous fiscal year to 17,648
million yen.
Total net assets at the end of nine months in FY2015 increased by 1,371 million yen (16.0%) from the end of theprevious fiscal year to 9,949 million yen. The main factors for the increase in total net assets were a 1,755 million
yen increase in retained earnings by posting a profit attributable to owners of parent, though there was a 584 million
yen decrease in foreign currency translation adjustment.
2.2 Cash Flow Condition
Net cash used in operating activities increased by 4,112 million yen from the beginning of this fiscal year due tothe increase in cash and cash equivalents (“cash”) by posting the increase in income before income taxes,
depreciation and amortization and increase in notes and accounts payable-trade, though there was a decrease in cashby posting the increase in inventories and notes and accounts receivable-trade (Net cash used in operating activities
for the last fiscal year increased by 2,675 million yen from the beginning of the last fiscal year).
Net cash used in investment activities decreased by 1,439 million yen from the beginning of this fiscal year due
to the decrease in cash by posting the payments into purchase of property, plant and equipment (Net cash used ininvestment activities for the last fiscal year decreased by 1,419 million yen from the beginning of the last fiscal
year).
Net cash used in financing activities decreased by 1,879 million yen from the beginning of this fiscal year due tothe decrease in cash by posting the decrease in short-term loans payable (Net cash used in financing activities forthe last fiscal year decreased by 972 million yen from the beginning of the last fiscal year).
As a result of taking into account a 131 million yen increase in increase in cash and cash equivalents resulting
from merger, the balance of cash and cash equivalents on December 31, 2015 was 5,509 million yen, an increase of
751 million yen from the beginning of this fiscal year.

3. Forecast for the Fiscal Year Ending March 31, 2016
Please refer to the “Announcement of the Revised Financial Forecast” announced on October 28, 2015.