TDK: Fundamentals Resilient As The Growth Transition Continues [Seeking Alpha]
TDK CORP S/ADR (TTDKY)
NASDAQ:AMEX Investor Relations:
global.tdk.com/corp/en/ir/index.htm
Company Research
Source: Seeking Alpha
ImageGap/iStock Editorial via Getty ImagesJapanese power electronics manufacturer TDK Corporation (OTCPK:TTDKYended FY23 stronglybusiness units and outdated assets (e.g., the disposal of its lithium-ion battery facilities). Post-restructuring, TDK is now better equipped to deliver margin improvements in lagging businesses like HDD, previously a drag on overall profits, with positive contributions guided in FY24 and beyond. TDKâ??s guidance for a step up in growth investments (helped by lower investment needs post-JV setup for battery production) also bodes well for the long-term growth optionality. Success here should, in turn, drive the stock to re-rate from the current ~1.2x P/B valuation (vs. low to mid-teens ROE).Yahoo FinanceRestructuring One-Offs Cloud Resilient FundamentalsOn theback of a solid FQ4, TDK saw its sales rise 14.7% YoY to JPY2,181bn for the fiscal year, with operating profits also up 1.2% YoY to JPY169bn. Key drivers included positive sales contributions from the e
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