FOR IMMEDIATE RELEASE
April 28, 2009

Fiscal Year 2008 Consolidated Financial Results(April 1, 2008 to March 31, 2009)

FDK CORPORATION(URL: http://www.fdk.com)
Listing Code No.6955 (Listing Stock Exchange: The First Section of Tokyo Stock Exchange)
Address : Hamagomu Bldg. 5-36-11 Shimbashi, Minato-ku, Tokyo 105-8677
Contact : Corporate Communication Office, General Affairs and Management Planning Division
E-mail: niida@fdk.co.jp
Date of the ordinary general shareholder's meeting : June 26, 2009
Filing date of Yukashoken Hokokusho: June 26, 2009
The Consolidated Financial Results is unaudited / U.S. GAPP is not applied

1.Consolidated Results for FY2008 ended March 31, 2009a. Consolidated Statements of Income
Yen

U.S.Dollars(millions)

Net Sales

Change(%)(millions)

FY2008FY2007

FY2008(4/1/08-3/31/09)
78,475(4/1/07-3/31/08)
113,668(4/1/08-3/31/09)$798.65

Operating Income(loss)(1,350)1,909($13.74)

Income(Loss) Before Income Taxes(11,817)(2,573)($120.26)

Net Income (Loss)(12,076)(3,105)($122.90)(94.43) yen(24.28) yen(96.1 cent)--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,

2009

2008

Total Assets

46,20365,272

Total Net Assets(8,534)

2,571

Shareholders' Equity(8,312)

3,771

Shareholders' Equity Ratio(19.7%)

Shareholders' Equity(157.06) yen

3.9%(66.22) yen

Per Sharec. Consolidated Statements of Cash FlowsYen(millions)

Net cash used in

FY2008FY2007,(4/1/08-3/31/09)
2,315(4/1/07-3/31/08)
990

(267)

(2,708)(1,378)

2,083

7,504

7,217

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

17 companies

Unconsolidated Subsidiaries (equity method applied)- companies

Affiliates (equity method applied only)

1 companies

d. Net Sales by Business Segment

Electronic Devices

Yen

Yen

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

FY2008FY2007,

FY2008(4/1/08-3/31/09)
52,229(4/1/07-3/31/08)
86,325(4/1/08-3/31/09)$531.54

Batteries

26,24527,342$267.10

Total

78,475

113,668$798.65(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=98.26 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, 2010
(Million of yen, except per share data)
FY2009Change from FY2008(%)

Net Sales¥67,000(14.6) %Operating Income¥2,150-Net Income

¥800

-

3.81 yen-

Net Income per Share

Note for the use of the above forecasted business results.
The forcast described above is based upon information available as of April 28, 2009.

3. Others(1)Changes in significant subsidiaries during the period: Yes
1 company included in the consolidated subsidiary: FDK MODULE SYSTEM TECHNOLOGY CORPORATION(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, 2009 : 128,075,884 shares

March 31, 2008: 128,075,884 shares

2)Number of treasury shares at the end of fiscal year
March 31, 2009 : 205,600 shares

March 31, 2008: 156,824 shares

Consolidated Balance Sheets
Millions of yen
FY2008
Mar 31, 2009
AssetsCurrent assets
Cash and deposits
Notes and accounts receivable-trade
Inventories
Merchandise and finished goods
Work in process
Raw materials and supplies
Accounts receivable-other
Deferred tax assets
Other
Allowance for doubtful accounts
Total current assets
Noncurrent 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 noncurrent assets
Total assets
Liabilities
Current 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
Other
Total current liabilities
Noncurrent liabilities
Long-term loans payable
Lease obligations
Deferred tax liabilities
Provision for retirement benefits
Provision for directors' retirement benefits
Other
Total noncurrent liabilities
Total liabilities
Net assets
Shareholders' equity
Capital stock
Capital surplus
Retained earnings
Treasury stock
Total shareholders' equity
Valuation and translation adjustments
Valuation difference on available-for-sale securities
Deferred gains or losses on hedges
Foreign currency translation adjustment
Total valuation and translation adjustments

FY2007
Mar 31, 2008

7,517
15,708
1,545
800
1,547
2,311
37
502
(28)
29,943

7,227
25,717
6,131
142
2,923
(26)
42,116

5,088
4,733
829
2,148
623
146
13,570
548

7,448
6,449
1,786
4,265
241
20,190
569

249
4
25
1,892
(30)
2,140
16,259

245
6
60
2,144
(60)
2,396
23,156

46,20365,272

11,89628,135
449
330
2,961
101
2,237
46,113

19,69230,809
564
1,713
221
3,264
56,265

204
774
4
7,513
127
8,624
54,738

456
4
5,821
98
54
6,435
62,701

22,756
17,167(48,197)(38)(8,312)22,756
17,167(36,121)
(31)
3,771

6
(777)
(770)

6
(0)
(1,248)(1,242)

Consolidated Statements of Income
Millions of yen
FY2008FY2007

Apr'08-Mar'09

Apr'07-Mar'08

Net sales

78,475

113,668

Cost of sales

70,240100,812Gross profit

8,234

12,855

Selling, general and administrative expenses

9,585

10,946

Operating income (loss)(1,350)1,909Interest income

57

83

Rent income

31

35

Insurance income

59-

Gain on sales of scraps

55

82

Other

118

155

Total non-operating income

322

357

520

585

1,095

1,896

88

197

-

255

1,278

1,278

281

393

3,263

4,607

(4,292)(2,340)

2,193

-

165

-

2,359

-

7,983

-

968

-

-

233

932

-

9,884

233

(11,817)(2,573)

Income taxes-current

159

491

Income taxes-deferred

92

29

Total income taxes

252

520

6

10

(12,076)(3,105)Non-operating income

Non-operating expenses
Interest expenses
Foreign exchange losses
Loss on retirement of noncurrent assets
Loss on disposal of inventories
Amortization of net retirement benefit obligation at transition
Other
Total non-operating expenses
Ordinary income (loss)
Extraordinary income
Gain on transfer of business
Gain on sales of noncurrent assets
Total extraordinary income
Extraordinary loss
Business structure improvement expenses
Impairment loss
Loss on closing of office
Other
Total extraordinary loss
Income (loss) before income taxes

Minority interests in income
Net income (loss)

Statements of Changes in Net Assets
Millions of yen
FY2008Apr'08-Mar'09
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
Valuation and translation adjustments
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 valuation and translation adjustments
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

FY2007
Apr'07-Mar'08

22,75622,75622,75622,756

17,167

17,167

17,167

17,167(36,121)(33,015)(12,076)(12,076)(48,197)(3,105)(3,105)(36,121)

(31)

(28)

(6)
(6)
(38)

(2)
(2)
(31)

3,771

6,879

(12,076)(6)(12,083)(8,312)(3,105)(2)(3,108)
3,771

6

20

0
0
6

(13)
(13)
6

(0)

(5)

0
0
-

5
5
(0)

(1,248)

(97)

470
470
(777)

(1,150)(1,150)(1,248)(1,242)

(82)

471
471
(770)

(1,159)(1,159)(1,242)

42

47

505
505
548

(5)
(5)
42

2,571

6,844

(12,076)(6)
976(11,106)(8,534)(3,105)(2)(1,164)(4,272)2,571

Consolidated Statements of Cash Flows
Millions of yen
FY2008FY2007

Apr'08-Mar'09

Apr'07-Mar'08

Net cash provided by (used in) operating activities
Income (loss) before income taxes(11,817)(2,573)

Depreciation and amortization

3,297

3,540

Impairment loss

5,652

-

Equity in (earnings) losses of affiliates

96

(2)

1,692

363

Increase (decrease) in provision for directors' retirement benefits

(98)

57

Increase (decrease) in allowance for doubtful accounts

(26)

(13)

Interest and dividends income

(64)

(85)

Interest expenses

520

585

Increase (decrease) in provision for retirement benefits

Foreign exchange losses (gains)
Loss (gain) on sales of property, plant and equipment
Loss on retirement of property, plant and equipment
Loss (gain) on transfer of business
Loss on office closings

22

82

(177)

(11)

166

197

(2,193)--233

Decrease (increase) in notes and accounts receivable-trade

9,774

1,925

Decrease (increase) in inventories

1,625

2,401

Increase (decrease) in notes and accounts payable-trade(8,066)(5,948)

Increase (decrease) in accrued expenses(1,000)206

Other, net

3,656

1,004

Subtotal

3,060

1,962

Interest and dividends income received

64

108

Interest expenses paid

(609)

(529)

Income taxes paid

(259)

(551)

Other, net

59

-

2,315

990

Payments into time deposits

(15)

(15)

Proceeds from withdrawal of time deposits

12

20

Purchase of property, plant and equipment(2,541)(2,703)

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

Proceeds from sales of property, plant and equipment

377

6

Purchase of intangible assets

(26)

(14)

Purchase of investment securities

(5)

(5)

Purchase of stocks of subsidiaries and affiliates

-

(130)

Proceeds from transfer of business

1,929

-

2

133

(267)

(2,708)Net increase (decrease) in short-term loans payable

(865)

2,932

Proceeds from long-term loans payable

159-

Repayment of long-term loans payable

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

(294)

(846)

Purchase of treasury stock

(6)

(2)

Cash dividends paid to minority shareholders

(3)

-

(367)

-

(1,378)

2,083

Repayments of finance lease obligations
Net cash provided by (used in) financing activities
Effect of exchange rate change on cash and cash equivalents

(380)

(677)

Net increase (decrease) in cash and cash equivalents

289

(311)

Decrease in cash and cash equivalents resulting from exclusion of subsidiaries from consolidation(2)-

Cash and cash equivalents at beginning of period

7,217

7,528

Cash and cash equivalents at end of period

7,504

7,217

Consolidated Business Segment Information
Millions of yen
FY2008 Apr'08-Mar'09
Electronic
Materials

Batteries

Total

Elimination

Consolidated78,475Net sales
Unaffiliated customers

52,22926,24578,475

-

-

-

-

-

-

Total

52,22926,24578,475-78,475

Operating income (loss)(2,747)

1,396(1,350)-(1,350)Intersegment

FY2007 Apr'07-Mar'08
Electronic
Materials

Batteries

Total

Elimination

Consolidated113,668

Net sales
Unaffiliated customers

86,32527,342

113,668

-

-

-

-

-

-

86,32527,342

113,668-

113,668

657

1,251

1,909

-

1,909

Intersegment
Total
Operating income (loss)

Consolidated Geographic Segment Information
Millions of yen
FY2008 Apr'08-Mar'09
Japan

North
America

Asia

Total

EuropeElimination

Consolidated-78,475Net sales
Unaffiliated customers

43,90631,308

1,304

1,955

78,475Intersegment

9,669

16,73856

89

26,554(26,554)-

Total

53,57648,046

1,361

2,045

105,029(26,554)

78,475

Operating income (loss)(1,733)

626

(1)

(17)

(1,125)(225)(1,350)FY2007 Apr'07-Mar'08
Japan

Asia

North
America

Total

EuropeElimination

Consolidated-113,668

Net sales
Unaffiliated customers

56,872

51,839

1,879

3,077

113,668

Intersegment

12,891

26,258-81

39,231(39,231)-

Total

69,76378,098

1,879

3,158

152,899(39,231)

113,668

641

1,367

72

37

2,119

(209)

1,909

Operating income (loss)

Net Overseas Sales by Customer's Geographic Location
Millions of yen
FY2008 Apr'08-Mar'09
Asia

Total sales to foreign customers

31,591

North
America

4,051

Other
Countries

4,928

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

Total

40,57178,475

40.2%

5.2%

6.3%

51.7%

FY2007 Apr'07-Mar'08
Asia

Total sales to foreign customers

55,297

North
America

5,292

Other
Countries

8,462

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

Total

69,052
113,668

48.6%

4.7%

7.4%

60.7%

Business Results(1) Analysis of Consolidated Business Results
1. Overview
The business environment of the FDK Group during the fiscal year ended March 31, 2009
became extremely severe due to the worldwide recession caused by the US financial crisis. All the
major product markets of the Group were affected.
Under these circumstances, FDK Group (hereinafter called “FDK”) proceeded in applying
selectivity and focus to its business areas. FDK considered the power and high frequency areas asits main pillars and proceeded to develop new products in those areas, applying its competitive
material technologies. The motor business was sold.
As for FDK’s business results, since the markets for its products shrunk from the hard hit they
took from the recession, orders for most products decreased. As a result, net sales were 78,475
million yen, a substantial decrease of 35,193 million yen from the previous fiscal year, andoperating loss was 1,350 million yen. As foreign exchange loss was accrued and posted by the risein the yen’s value from last October, and the cost for business structural reform essential to
future growth was posted as an extraordinary loss, loss before income taxes was 11,817 million
yen and net loss was 12,076 million yen.
The divisional sales overview is as follows.

2. Electronic Device BusinessIn the electronic device business, FDK has strived to develop new products with high customer
satisfaction through the pursuit of material technologies and the fusion of cutting-edge
technologies.
Sales of optical devices stayed the same as the previous year by securing the order forsubmarine cable, though the market situation was very tough. Sales of DC-DC converters
increased from the previous year due to the increased sales of POL converters in Westerncountries because of the high evaluation they received on product performance and FDK’s
substantial product line-up. Sales of switching power supplies, multilayer power inductors andcoil devices decreased from the previous year because of the rapid economic slowdown in thelatter half of the fiscal year. Sales of signal processing boards for LCDs decreased greatly fromthe previous year due to production adjustments made by the LCD panel manufacturers. Sales ofbacklight inverter modules for LCDs decreased significantly from the previous year due to thestrategic change of overseas set makers to extend internal procurement and the price decline of
LCD televisions caused by excessive competition in the market.
As a result, sales for the electronic device business were 52,229 million yen, a 39.5% decrease
from the previous fiscal year.

3. Battery BusinessIn the battery business, FDK has strived to develop new products and technologies to offer safe,
high performance, environmentally-friendly and high-quality batteries to its customers.
Sales of alkaline batteries, which are FDK’s core products in the battery business, remained
the same as the previous year due to promotional activities for the “Fujitsu Alkaline Battery G. D.
R Series” in Japan and extended sales activities in the global market, while consumer spending
was sluggish from the worldwide recession.
Sales of lithium batteries, which are mainly used for smoke detectors and ETC in-vehicledevices, decreased from the previous year due to the decrease in demand for home construction
and car sales.
As a result, sales for the battery business were 26,245 million yen, a 4.0% decrease from theprevious fiscal year.

4. Forecast for the Fiscal Year Ending March 31, 2010
Due to the continuing severe business environment and the closure of some businesses throughselectivity and focus by the business areas, net sales are expected to be 67,000 million yen, adecrease from the previous year.
However, operating income is expected to reach 2,150 million yen by concentrating financial
resources on value-added products based on material technology and the effect of businessstructural reforms, such as cost reduction activities including personnel reduction andconsolidation of business bases.
Net income is expected to be 800 million yen. The exchange rate is anticipated to be 90 yen per
US dollar.
Our consolidated forecasts for the year ending March 31, 2010 are as follows:(Millions of yen except per share data)
Year ending
Changing from the year
ending March 31,2009(%)
March 31, 2010
Net sales
67,000-14.6%
Operating income
2,150－
Net income
800－
Net income per share
3.81 yen－(2) Analysis of Financial Condition
1. Status of Assets, Liabilities and Net Assets
Total assets at the end of FY2008 decreased 19,069 million yen from the end of the previous
fiscal year to 46,203 million yen. Current assets were down 12,173 million yen to 29,943 million
yen. Fixed assets were down 6,896 million yen to 16,259 million yen.
The principal causes for decreased current assets were a 10,009 million yen decrease in notes
and accounts receivable trade and a 2,237 million yen decrease in inventories. The principal
cause for decreased fixed assets was a 6,620 million yen decrease in total property, plants andequipment.
Total liabilities at the end of FY2008 decreased 7,963 million yen from the previous fiscal
year-end to 54,738 million yen. Current liabilities decreased 10,152 million yen from the previous
fiscal year-end to 46,113 million yen. Non-current liabilities increased 2,189 million yen from theprevious fiscal year-end to 8,624 million yen.
The principal causes of decreased current liabilities were a 7,796 million yen decrease in notes
and accounts payable trade and a 2,789 million yen decrease in short-term loans payable(including long-term loans payable within a year). The principal causes for increased non-current
liabilities were a 1,692 million yen increase in the provision for retirement benefits and a postingof lease obligations of 774 million yen.
Total net assets at the end of FY2008 decreased 11,106 million yen from the previous fiscal
year-end to 8,534 million yen of negative net assets. The principal factor for the decrease was a
12,076 million yen decrease in retained earnings by posting a net loss of FY2008.

2. Cash Flow Condition
Net cash used in operating activities increased 2,315 million yen from the end of the previous
fiscal year by posting depreciation and amortization, impairment loss and a decrease in notes andaccounts payable trade, though some of the decrease resulted from posting losses before income
taxes and a decrease in notes and accounts payable trade.
Net cash used in investing activities decreased 267 million yen from the end of the previous
fiscal year due to the purchase of property, plants and equipment, though there were proceedsfrom the transfer of business.
Net cash used in financing activities decreased 1,378 million yen from the end of the previous
fiscal year due to a decrease in short-term loans and in finance lease obligations.
As a result, the balance of cash and cash equivalents at the end of the fiscal period was 7,504
million yen, an increase of 287 million yen from the beginning of the fiscal year.