TDK: FY23 Financial Results

Sales of HDD heads and suspension assemblies decreasing significantly

By Jean Jacques Maleval | June 8, 2023 at 2:01 pm

(in ¥ million)	4Q22	4Q23	FY22	FY23
Revenue	58,400	43,300	248,446	200,573
*Growth*		-26%		*-19%*

TDK Corp. reports its 4FQ23 and FY23 financial results for the year ended March 31, 2023.

This table above is for magnetic application products segment only, one of firm’s activities, producing HDD heads, suspension assemblies, and magnets, representing 9.2% of global revenue in FY23.

Sales for this segment decreased by 26% from 4Q22 to 4Q23, and by 19% Y/Y from FY22 to FY23. Sales of HDD heads and suspension assemblies decreased as well as profit as a result of a rapid decline in HDD demand in data centers and PCs. Sales of magnets increased to the automotive market.

For FY24, the company projects that the HDD production volume will decline by 5%.

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