TDK Corporation
Q3 2021 Earnings Call Transcript

Published: 29 Jan 2021

[Tetsuji Yamanishi:]

Thank you very much for attending despite busy schedule TDK's performance briefing of the third quarter of fiscal year 2021. So from my side, I would like to talk about the consolidated results for the third quarter. First of all, this is the key points of our performance. The third wave of COVID-19 has been hitting countries around the world, and the impact continues on society. Against this backdrop in areas, the social and economic and production activities has already recovered. The recovery trend of electronics demand has become clearer from the second quarter and going in into the third quarter. In the ICT market, DX-related demand, such as the mobile devices continue to be robust. So in the automotive market as electrification accelerated in xEV and ADAS. And expansion in overall demand has been seen and industrial equipment market grew as demand for renewable energy is increasing. And the recovery of demand in energy transformation EX has become clear. Under this environment, for demand, sales increased 11.3% against the previous year. And operating income went up by 11.6% against the previous year. This is a record high level for a quarter, both for sales and operating income. So orders for the auto market recovered sharply from the second quarter, and this momentum continued into the third quarter.

[End of Q&A:]