Notice regarding Revision to Full Year Consolidated Financial Forecasts, Dividend Forecasts and Interim Dividends from Surplus for Fiscal Year Ending March 31, 2022(538KB)

URL:http://www.ty-top.com/

For immediate release

Notice regarding Revision to Full Year Consolidated Financial Forecasts, Dividend Forecasts

and Interim Dividends from Surplus for Fiscal Year Ending March 31, 2022

TOKYO, November 5, 2021 - TAIYO YUDEN CO., LTD. announced that the meeting of its Board of Directors held on November 5, 2021 resolved to revise the full-year consolidated financial results forecast for the fiscal year ending March 31, 2022 (April 1, 2021 to March 31, 2022) published on August 5, 2021 and the year-end dividend forecast for the fiscal year ending March 31, 2022 as outlined below.

At the Board of Directors meeting held on November 5, 2021, the Company decided to distribute interim dividends from surplus with a record date of September 30, 2021 as follows.

1. Revision to the Consolidated Financial Results Forecasts

1. Consolidated Results Forecasts for the Year Ending March 31, 2022 (April 1, 2021 - March 31, 2022)

								Unit: Millions of yen
								Net income
						Operating	Ordinary	attributable		Net income
					Net sales	to owners of		per share
					income	income
						parent		[Yen]
								company
Previous forecast	(	Ａ		333,000	55,000	54,500	39,500	314.70
	)
Revised forecast	(	Ｂ	)		345,000	64,000	64,000	48,000	382.20
Net change	(	Ｂ－Ａ	)	12,000	9,000	9,500	8,500
Net change					3.6%	16.4%	17.4%	21.5%
(Reference)					300,920	40,766	41,247	28,615	227.99
Year ended
March 31, 2021

(2) Rationale for the Revision of Forecasts

Based on the financial results for the six-month period ended September 30, 2021, future demand forecasts, and other factors, the Company will upwardly revise the full-year consolidated financial results forecasts for the fiscal year ending March 31, 2022.

With regard to financial results from the third quarter onward, demand for competitive, high value-added, high reliability and cutting edge products is expected to be higher than initially anticipated due to the following factors: the increase in working from home and at-home learning using electronic devices, enhancements in the functionality and performance of communication equipment, particularly 5G smartphones, and advancing use and performance of electronics and electronics components in automobiles and IT infrastructure.

During the six-month period ended September 30, 2021, there were constraints on operations at the production subsidiary in Malaysia due to the impact of COVID-19, but we have assumed that normal operations will continue from the third quarter onward. The forecast is based on an average foreign currency exchange rate of US$1:¥110.

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2. Interim Dividends from Surplus and Revision to the Dividend Forecasts

1. Interim Dividends from Surplus

	Interim dividend for	Forecast	Interim dividend for
	FY2021	as of May 13, 2021	FY2020
Record date	September 30, 2021	September 30, 2021	September 30, 2020
Dividends per share	40.00 yen	30.00 yen	15.00 yen
Total dividends	5,023 million yen	―	1,882 million yen
Effective date	December 1, 2021	―	December 2, 2020
Source of dividends	Retained earnings	―	Retained earnings

(2) Revision to Dividend Forecasts
		Dividend per share
	End of the six-months	End of the year	Full year
	period
Previous forecast
30.00 yen	30.00 yen	60.00 yen
(May 13, 2021)
Revised forecast		40.00 yen	80.00 yen
Actual result	40.00 yen
Result of the previous
fiscal year	15.00 yen	25.00 yen	40.00 yen
(Fiscal year ended March
31, 2021)

(3) Rationale for Revision of Forecast

TAIYO YUDEN recognizes that enhancing returns to shareholders is one of management's most important tasks, and, with a basic commitment to stable increases in dividends, the Company's dividend payout ratio target has been set at 30%. In accordance with this policy, TAIYO YUDEN has taken all circumstances into consideration, including the results forecasts for the fiscal year ending March 31, 2022, and will revise the interim dividend from surplus and the dividend forecasts as above. The year-end dividend is planned for submission to the Company's 81st Ordinary General Meeting of Shareholders scheduled to be held in June 2022.

Disclaimer concerning Forecasts of Results:

The aforementioned forecasts of results are based on information available as of the date of this news release. As a result, information included in this document may include uncertain factors, and actual results may differ materially from forecasts due to a variety of factors.

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