TDK : Notice of Voluntary Adoption of International Financial Reporting Standards (IFRS)
February 22, 2022 at 11:41 am IST
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Notice of Voluntary Adoption of International Financial Reporting Standards (IFRS)
February 22, 2022
TDK Corporation (President: Shigenao Ishiguro, TSE:6762) has adopted a resolution at the Board of Directors meeting on February 22, 2022 regarding voluntary adoption of International Financial Reporting Standards ("IFRS") to its consolidated financial statements in place of the current Generally Accepted Accounting Principles in the United States ("U.S. GAAP") in order to enhance the international comparability of its financial information in the capital markets and to improve the efficiency and quality of group management. This adoption will take place from the Annual Securities Report for the fiscal year ending March 31, 2022, and it will apply to the subsequent disclosure materials.
As for the Summary of Consolidated Financial Results and Consolidated Financial Statements under the Companies Act for the fiscal year ending March 31, 2022, these disclosure materials will be disclosed under the U.S. GAAP.
Disclosure schedule for the voluntary adoption of IFRS (planned):
Period
Disclosure Materials
Accounting Standard
Fiscal year ending March 31, 2022
Year-end
Summary of Consolidated Financial Results*
Consolidated Financial Statements
U.S. GAAP
Annual Securities Report
IFRS
Fiscal year ending March 31, 2023
First, Second, and Third Quarter
Summary of Consolidated Quarterly Financial Results
Quarterly Report
*The Summary of Consolidated Financial Results for the fiscal year ending March 31, 2022 will also be disclosed under IFRS at a later date.
Contacts for media
Contact
Phone
Mail
Mr. Kazushige Atsumi
TDK Corporation
+81 3 6778-1055
pr@jp.tdk.com
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Disclaimer
TDK Corporation published this content on 22 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 February 2022 06:10:06 UTC.
TDK Corporation specialises in the design, manufacture and sales of electronic products and recording equipment. Net sales break down by family product as follows:
- rechargeable batteries and energy converters (46.9%);
- electronic equipment and components (33.1%): ceramic capacitors, ferrites, magnets, inductors, high-frequency components, transformers, converters, thermistors, etc.;
- recording equipment (13.5%): recording appliances (notably magnetic heads for hard disks, heads for disk drives and thermal printer heads), recording equipment (audio and video cassettes, optical disks, computer data storage tapes, PC cards, etc.);
- other (3.5%): rechargeable batteries, memory cards, displays and mechatronic equipment.
Net sales break down geographically as follows: Japan (8%), China (56.8%), Asia (18.7%), Europe (10%) and Americas (6.5%).
TDK CORPORATION 
