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    6762   JP3538800008

TDK CORPORATION

(6762)
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TDK : Introduction of Renewable Energy at TDK's Corporate Headquarters in Tokyo

07/01/2021 | 09:16am EDT

- Switching to 100% green electricity with accepted environmental value

TDK Corporation (TSE:6762, hereinafter "TDK") announces that it has concluded an agreement with Mitsui Fudosan Co., Ltd. (Headquartered in Chuo-ku, Tokyo; President and CEO: Masanobu Komoda; hereafter "Mitsui Fudosan"), the lessor of the Nihonbashi Takashimaya Mitsui Building where TDK's corporate headquarters is located. The "Agreement on the Provision of Non-Fossil Fuel Certificates" relates to the energy used by TDK at the Nihonbashi Takashimaya Mitsui Building.

Until now, the procurement of green energy has been a difficult issue for office building tenants. To facilitate such examinations, from June last year TDK asked Mitsui Fudosan, the lessor of the Nihonbashi Takashimaya Mitsui Building where TDK's corporate headquarters is located, to consider a scheme for the provision of renewable energy.

As a result, starting April this year Mitsui Fudosan began the Green Energy Supply Service, which essentially supplies renewable energy through the use of non-fossil fuel certificates with tracking information for the electricity used by the tenant's of Mitsui Fudosan's office buildings and other facilities. Using this service enables office building tenants to take part in green electricity procurement.

TDK and the TDK Group companies have taken advantage of this service and from July 1, 2021 made the switch to 100% green electricity with accepted environmental value through non-fossil fuel certificates with tracking information at its corporate headquarters (Chuo-ku, Tokyo).

TDK's Environmental Vision 2035 states our aim of increasing social value and realizing a sustainable and prosperous society for all people. A part of that effort involves reducing CO2 emissions from electricity used at the corporate headquarters to zero. About TDK Corporation

TDK Corporation is a world leader in electronic solutions for the smart society based in Tokyo, Japan. Built on a foundation of material sciences mastery, TDK welcomes societal transformation by resolutely remaining at the forefront of technological evolution and deliberately "Attracting Tomorrow." It was established in 1935 to commercialize ferrite, a key material in electronic and magnetic products. TDK's comprehensive, innovation-driven portfolio features passive components such as ceramic, aluminum electrolytic and film capacitors, as well as magnetics, high-frequency, and piezo and protection devices. The product spectrum also includes sensors and sensor systems such as temperature and pressure, magnetic, and MEMS sensors. In addition, TDK provides power supplies and energy devices, magnetic heads and more. These products are marketed under the product brands TDK, EPCOS, InvenSense, Micronas, Tronics and TDK-Lambda. TDK focuses on demanding markets in automotive, industrial and consumer electronics, and information and communication technology. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In fiscal 2021, TDK posted total sales of USD 13.3 billion and employed about 129,000 people worldwide.

Contact for media Contact Phone Mail Mr. Yoichi OSUGA TDK Corporation

Tokyo, Japan +81 3 6778-1055 pr@jp.tdk.com

.

(C) 2021 M2 COMMUNICATIONS, source M2 PressWIRE

Stocks mentioned in the article
ChangeLast1st jan.
MITSUI FUDOSAN CO., LTD. -2.63% 2494.5 End-of-day quote.15.57%
TDK CORPORATION -0.08% 12740 End-of-day quote.-18.02%
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Financials
Sales 2022 1 712 B 15 629 M 15 629 M
Net income 2022 111 B 1 013 M 1 013 M
Net Debt 2022 242 B 2 206 M 2 206 M
P/E ratio 2022 14,5x
Yield 2022 1,60%
Capitalization 1 609 B 14 701 M 14 690 M
EV / Sales 2022 1,08x
EV / Sales 2023 1,01x
Nbr of Employees 129 284
Free-Float 97,1%
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Number of Analysts 19
Last Close Price 12 740,00 JPY
Average target price 16 388,89 JPY
Spread / Average Target 28,6%
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Managers and Directors
Shigenao Ishiguro President, CEO & Representative Director
Tetsuji Yamanishi Representative Director, GM-Finance & Accounting
Makoto Sumita Chairman
Dai Matsuoka Executive Officer & General Manager-Technology
Kazuhiko Ishimura Independent Outside Director
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