FOR IMMEDIATE RELEASE
October 30, 2013
Consolidated Financial Results for the First Half of FY2013(April 1, 2013 to September 30, 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 Dept.
E-mail: hirano@fdk.co.jp
The Consolidated Financial Results is unaudited/U.S. GAPP is not applied

1. Consolidated Operating Results for the Six-Months Ended September 30, 2013
a. Consolidated Results of Operations
Yen(millions)
Six months
Six months
ended Sept. 30,
ended Sept. 30,
2013
Change (%)
2012
12.0
Net Sales
35,10939,308Operating Income (Loss)(1,626)
1,049(1,723)985
Ordinary Income (Loss)Net Income (Loss)(1,566)484-

Amounts Per Share of Common Stock:
Basic Earnings (Loss)(7.21) yen
Diluted Earnings-

2.23 yen
1.74(URL: http://www.fdk.com)

Yen(millions)
FY2012,
ended Mar. 31,
2013
73,547
(526)
174
453

2.09 yen

U.S.Dollars(millions)
Six months
ended Sept. 30,
2013$402.13$10.73$10.08$4.95

2.28 centb. Net Sales by Business Segment

Batteries
Electronic Devices
Total

Yen
(millions)
Six months
ended Sept. 30,
2012
21,845
13,26335,109Yen(millions)
Six months
ended Sept. 30,
2013
24,026
15,28139,308c. Consolidated Financial Position
Yen(millions)
As of Mar. 31,
As of Sept. 30,
2013
2013
Total Assets
58,72057,008
Total Net Assets
8,150
8,122
Shareholders' Equity
7,114
7,598
Shareholders' Equity Ratio
11.1 %
13.2 %

Yen(millions)
FY2012,
ended Mar. 31,
2013
45,671
27,87673,547

U.S.Dollars(millions)
Six months
ended Sept. 30
2013$245.79$156.33$402.13

d. Consolidated Statements of Cash FlowsYen(millions)
Six months
ended Sept. 30,
2012
(461)

Six months
ended Sept. 30,
2013
3,593

(351)

(1,981)756(1,604)

5,607

4,949

Cash Flows fromOperating Activities
Cash Flows from
Investing Activities
Cash Flows from
Financing Activities
Cash and Cash Equivalents
at End of Period(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 97.75 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 2013 ending March. 31, 2014
(Million of yen, except per share data)
FY2013
Change from FY2012
FY2012Net Sales (Loss)
80,00073547
8.8 %Operating Income (Loss)
2,200
(526)
Ordinary Income
1,900
174
989.2 %Net Income
1,000
453
120.6 %Net Income per Share
4.60 yen
2.09 yen
Note for the use of the above forecasted business results.
The financial forecast described above is based upon information available as of April 26, 2013.
3. Others(1) Changes in material subsidiaries during the period: No
16 companies
Consolidated Subsidiaries
Unconsolidated Subsidiaries (equity method applied)
3 companies
Affiliates (equity method applied only)
2 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: No2) 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.
September 30, 2013: 217,505,884 shares
March 31, 2013: 217,505,884 shares
2) Number of treasury shares at the end of each period
September 30, 2013: 237,406 shares
March 31, 2013: 233,228 shares3) Weighted average number of shares outstanding in each period.
Six months ended Sep. 30, 2013: 217,270,910 shares Six month ended Sep. 30, 2012: 217,275,549 shares

Consolidated Balance Sheets
Millions of yen
FY2012
Mar 31, 2013
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
i iii
Liabilities
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

1H/FY2013
Sep 30, 2013

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

4,949
20,423
2,448
2,701
1,620
193
1,230
(61)
33,506

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

7,621
5,408
730
3,411
1,315
268
18,754
736

161
1
218
1,422
(0)
1,804
23,959

1,830
1
240
1,938
(0)
4,010
23,50258,72057,00815,565
21,279
363
1,254
243
137
2,569
41,414

14,95919,696
481
2,373
249
2,645
40,405

1,091
3
6,313
1,328
419
9,156
50,570

1,093
200
1,635
948
4,602
8,480
48,88528,301
22,622(43,767)
(42)
7,114

28,301
22,622(43,283)
(42)
7,598

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

23
(93)
(69)
593
8,122

58,72057,008

Consolidated Statements of Income
Millions of yen
1H/FY2012

1H/FY2013

Apr'12-Sep'12

Apr'13-Sep'13

Net sales

35,10939,308

Cost of sales

31,38432,947Gross profit

3,725

6,360

Selling, general and administrative expenses

5,352

5,311

Operating income (loss)(1,626)

1,049

Non-operating income
Interest income

79

Amortization of negative goodwill

379

379

Rent income

10

99

Other

55

156

Total non-operating income

453

645

Interest expenses

83

76

Foreign exchange losses

314

124

Equity in losses of affiliates

33

385

Loss on retirement of non-current assets

51

19

Other

67

102

Total non-operating expenses

550

709

(1,723)985

Subsidy income-

83

Total extraordinary income-

83

Non-operating expenses

Ordinary income (loss)
Extraordinary income

Extraordinary loss
Ｌｏｓｓ on revision of retirement benefit plan-

304

Settlement package

239-

Total extraordinary loss

239

304

Income (loss) before income taxes(1,963)

763

Income taxes-current

79

196

Income taxes-deferred

99

(95)

Total income taxes

(19)

292

(1,943)

471

(376)

(13)

(1,566)484

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

Consolidated Statements of comprehensive income
Millions of yen

Income (loss) before minority interests

1H/FY2012

1H/FY2013

Apr'12-Sep'12

Apr'13-Sep'13(1,943)

471

Other comprehensive income
Valuation difference on available-for-sale securities
Foreign currency translation adjustment

(1)

5

(495)

450

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

(58)

62

Other comprehensive income

(554)

519

(2,498)990

Comprehensive income attributable to owners of the parent(2,117)

1,006

Comprehensive income attributable to minority interests

(380)

(16)

Comprehensive income（Comprehensive income attributable to）

Consolidated Statements of Cash Flows
Millions of yen
1H/FY2012

1H/FY2013

Apr'12-Sep'12

Apr'13-Sep'13

Net cash provided by (used in) operating activities
Income (loss) before income taxes(1,963)763

Depreciation and amortization

1,460

1,369

Increase (decrease) in provision for retirement benefits

(258)

8

Increase (decrease) in allowance for doubtful accounts(5)2Interest and dividends income

(8)

(10)

Interest expenses

83

76

Foreign exchange losses (gains)

4(5)Equity in (earnings) losses of affiliates

33

385

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

(1)

(0)

Loss on retirement of non-current assets

51

19

Amortization of negative goodwill

(379)

(379)

Subsidy income

-

(83)

Settlement package

239-

Decrease (increase) in notes and accounts receivable-trade

636

894

Decrease (increase) in inventories

164

255

Increase (decrease) in notes and accounts payable-trade(874)(1,213)

Increase (decrease) in accrued expenses

591

589

Other, net

(40)

1,192

Subtotal

(267)

3,866

Interest and dividends income received

8

10

Proceeds from subsidy income-

83

Interest expenses paid

(82)

(77)

Income taxes paid

(120)

(289)

Net cash provided by (used in) operating activities

(461)

3,593

Net cash provided by (used in) investing activities
Payments into time deposits

(6)

(0)

P
d ffrom withdrawal
i hd
l off time
i depositsdiProceeds

300

10Purchase of property, plant and equipment(1,279)(1,236)

Proceeds from sales of property, plant and equipment

672

172

Purchase of intangible assets

(46)

(33)

Purchase of investment securities

(1)

(1)

Purchase of stocks of subsidiaries and affiliates

-

(888)

Other, net

9

(4)

(351)

(1,981)

Net increase (decrease) in short-term loans payable874(1,385)Purchase of treasury stock

(0)

(0)

Proceeds from stock issuance to minority shareholders

-

6

(117)

(225)

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

Repayments of finance lease obligations
Net cash provided by (used in) financing activities

756(1,604)

Effect of exchange rate change on cash and cash equivalents

(211)

176

Net increase (decrease) in cash and cash equivalents

(268)

183

-

(532)

Cash and cash equivalents at beginning of period

5,875

5,297

Cash and cash equivalents at end of period

5,607

4,949

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

Consolidated Business Segment Information
Millions of yen
1H/FY2012 Apr'12-Sep'12
Business Segments Reported
Electronic
Batteries
Materials

Total

Adjustments

Consolidated
Statements

35,109Net sales
Unaffiliated customers
Intersegment
Total
Segment income (loss)

21,845

13,26335,109

-

-

-

-

-

-

21,845

13,26335,109-35,109(1,857)231(1,626)-(1,626)

Adjustments

Consolidated
Statements

39,3081H/FY2013 Apr'13-Sep'13
Business Segments Reported
Electronic
Batteries
Materials

Total

Net sales
Unaffiliated customers
Intersegment
Total
Segment income

24,026

15,28139,308

-

-

-

-

-

-

24,026

15,28139,308-39,308

520

528

1,049

-

1,049

Business Results(1) Analysis of Consolidated Business Results
1.1 Overview
The business environment of the FDK Group (hereinafter called “FDK”) during the first half, which ended
September 30, 2013, remained under unclear condition due to the anticipation of the slowing economy in emerging
countries, growing tension in the Middle East and currency turmoil concerns of Southeast Asian countries, though
there were signs of gradual economic recovery from the expectations, for the economic growth through various
policies under the new administration.
Under these circumstances, FDK worked on several measures of the new midterm business plan, starting from
April 1, 2013 (FY2013 to 2015) and realized to lower the break-even point. Specifically, FDK expanded to apply
technological VEs for all product materials, which had focused on expensive metal materials such as rare earths in
the last year and it achieved to cut purchasing cost and significant material cost reduction, along with the reductionof fixed costs, such as external costs.
As a result, FDK is able to post a profit for four consecutive quarters, from the last third quarter to this second
quarter. Furthermore, FDK carried a revision of retirement benefit and pension plans for the long-term stable
operations and cost reductions in the future.
As for sales for the first half, net sales were 39,308 million yen and increased by 4,198 million yen from the same
period last year. Sales expansion of Ni-MH batteries in industrial markets and signal processing modules fortablet terminals and large LCD televisions contributed the net sales increase.
With regard to profit and loss, operating income was 1,049 million yen and increased by 2,675 million yen fromthe same period last year. It is achieved by the above mentioned cost cutting efforts, sales growth and thebeneficiaries of cheap yen. Ordinary income was 985 million yen and increased by 2,709 million yen from thesame period last year. Net income for the first half was 484 million yen and increased by 2,050 million yen fromthe same period last year, though extraordinary loss of 304 million yen was posted, which occurred in the revisionof the pension plan and retirement allowance.
Ref: Semi-annual (6 months’) Consolidated Financial Results
Net Sales(Million yen)

Sales cost

Operating

Ordinary

ratio (%)

IncomeIncomeNet Income

FY2012 1st Half

35,10989.4-1,626-1,723-1,566FY2012 2nd Half

38,438

84.2

1,100

1,898

2,019

FY2013 1st Half

39,308

83.8

1,049

985

484

+4,198-5.6+2,675+2,709+2,050Compared to the same period
last year

The divisional sales overview is as follows.
1.2 Battery Business
Sales of alkaline batteries increased from the same period last year, due to the efforts to acquire new customers
and to develop overseas markets, though consumer markets in Japan became very competitive by the circulation of
low price imported batteries from China, etc. and the downturn in market conditions. Sales of Ni-MH batteries
fairly increased from the same period last year, due to increase in sales for the industrial market. Sales of lithium
batteries increased from the same period last year, due to steady increase in sales for disaster-related goods, security
goods and automotive applications.
As a result, sales for the battery business were 24,026 million yen, increased by 2,181 million yen from the same
period last year.
1.3. Electronic Device Business
Sales of coil devices decreased from the same period last year, as their sales for home appliances decreased,though their sales for hybrid cars steadily increased with the development of high performance ferrite at the Sanyo
Plant. Sales of dc-dc converters increased from the same period last year, due to the steady increase in sales forservers and storages. Sales of multilayer power inductors and high frequency devices steadily increased from thesame period last year, due to this sales expansion for smartphones. Sales of signal processing modules for LCD
displays did well especially for tablet terminals and for large LCD televisions in the China market. Thus, they
increased from the same period last year.
As a result, sales for the electronic device business were 15,281 million yen, increased by 2,017 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 the first half of FY2013 decreased by 1,712 million yen (-2.9%) from the end of theprevious fiscal year to 57,008 million yen. Current assets decreased by 1,255 million yen (-3.6%) from the end of
the previous fiscal year to 33,506 million yen. Noncurrent assets decreased by 457 million yen (-1.9%) from theend of the previous fiscal year to 23,502 million yen. The principal causes for decreased current assets were a 358
million yen decrease in cash and deposits, a 280 million yen decrease in notes and accounts receivable-trade and a
236 million yen decrease in work in process. The principal cause for decreased noncurrent assets was a 2,622
million yen decrease in property, plant and equipment, though there was a 1,669 million yen increase in investment
securities, resulting from exclusion of Asahi Kasei FDK Energy Device Co., Ltd. from consolidation.
Total liabilities at the end of first half of FY2013 decreased by 1,684 million yen (-3.3%) from the end of theprevious fiscal year to 48,885 million yen. Current liabilities decreased by 1,008 million yen (-2.4%) from the endof the previous fiscal year to 40,405 million yen. Noncurrent liabilities decreased by 676 million yen (-7.4%)
from the end of the previous fiscal year to 8,480 million yen. The principal cause of decreased current liabilities
was a 1,583 million yen decrease in short-term loans payable and a 605 million yen decrease in notes and accounts
payable-trade, though there was a 1,118 million yen increase in account payable-other. The principal causes for
decreased non-current liabilities were a 379 million yen decrease in negative goodwill.
The interest-bearing debt decreased by 1,464 million yen from the end of the previous fiscal year to 21,270
million yen.
Total net assets at the end of the first half of FY2013 decreased by 28 million yen (-0.3%) from the end of theprevious fiscal year to 8,122 million yen. The main factors for the decrease in total net assets were a 1,034 million
yen decrease in minority interests resulting from exclusion of Asahi Kasei FDK Energy Device Co., Ltd. fromconsolidation, etc., though there was a 484 million yen increase in retained earnings by posting a net income of thefirst half and a 516 million yen increase in foreign currency translation adjustment.
2.2 Cash Flow Condition
Net cash used in operating activities increased by 3,593 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, the depreciation andamortization, a decrease in notes and receivable-trade, and an increase in accrued taxes though there was a decreasein cash by a decrease in notes and accounts payable-trade. (Net cash used in operating activities for the same period
last year decreased by 461 million yen from the beginning of previous fiscal year).
Net cash used in investment activities decreased by 1,981 million yen from the beginning of this fiscal year bypurchasing the property, plant and equipment and the stocks of subsidiaries and affiliates. (Net cash used ininvestment activities for the same period last year decreased by 351 million yen from the beginning of previous
fiscal year).
Net cash used in financing activities decreased by 1,604 million yen from the beginning of this fiscal year due tothe decrease in short-term loans payable. (Net cash used in financing activities for the same period last year
decreased by 756 million yen from the beginning of previous fiscal year).
As a result, the balance of cash and cash equivalents at September 30, 2013 was 4,949 million yen, by decreaseof 348 million yen from the beginning of the fiscal year.
(3) Forecast for the Fiscal Year Ending March 31, 2014
FDK has not changed its business forecast, which was announced on April 26, 2013. We will announce therevision promptly if it will be needed in the future, by doing our best to collect various information including
market trends.