REVENUE FOR THE FIRST HALF OF FISCAL YEAR 2022 (AS OF SEPTEMBER 30, 2021)

REVENUE FOR THE FIRST HALF OF FISCAL YEAR 2022

(AS OF SEPTEMBER 30, 2021)

Grenoble, France and Dallas, TX, USA - November 4, 2021 - Tronics, a TDK Group Company that manufactures custom MEMS products and standard inertial sensors for industrial applications, has announced its revenue for first half of fiscal year 2022 (from April 1 to September 30, 2021). Consolidated revenue increased by 66% compared to the same period of last year.

CONSOLIDATED REVENUE FOR THE FIRST HALF OF FISCAL YEAR 2022
	First half	First half
in €k (IFRS) - unaudited	of fiscal year	of fiscal year	Half year
2022	2021
variation
	From April 1 to September 30, 2021	From April 1 to September 30, 2020
Revenue	6,385	3,851	+66%
Manufacturing	5,061	3,113	+63%
Engineering	1,323	738	+79%

Revenue for the first half of fiscal year 2022 totalled €6.4M, a significant increase compared with the same period of last fiscal year (from April 1 to September 30, 2020), driven by the growth of the manufacturing activities.

The Group's manufacturing activities generated revenue of €5.1M, an increase of +63% compared to the same period of last year. The growth has been supported by production activities in Crolles, France, which increased by +53% over the same period. This momentum has been driven by a growing demand for Tronics' high performance MEMS inertial sensors, and by the activities related to custom MEMS products for industrial applications. Nowadays, manufacturing activities account for 79% of Tronics' revenue, in line with the Company's strategy, which has made this activity its main growth priority.

Engineering activities, dedicated to the development and the industrialization of future customized MEMS products at Group level, accounted for €1.3M in the first half of fiscal year 2022 (versus €0.7M in the first half of fiscal year 2021).

Moreover, over the last six months of fiscal year 2022, revenue of the American subsidiary was up, reaching USD 1.6M versus USD 0.7M over the same period of previous fiscal year, thus confirming the ramp-up of the BioMEMS foundry activity of its US subsidiary. The American subsidiary now accounts for more than 20% of total Group's revenue.

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OUTLOOK

Given the increased revenue over the first half of fiscal year 2022, Tronics expects an improvement of its recurring operating income (which was minus €3.2M in the first half of 2021) although it will remain in deficit.

In the second half of the year, Tronics expects to continue its growth momentum in the manufacturing activities in France, still focused on the ramp-up of the existing product portfolio and new product launches, which allow for increased sales of innovative MEMS products for high value-added inertial and industrial applications.

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About Tronics Microsystems

Tronics Microsystems is a division of TDK's Temperature & Pressure Sensors Business Group that manufactures custom MEMS products and standard inertial sensors for industrial applications. Addressing high-growth markets relying on increasing miniaturization of electronic devices, the company provides custom and standard products especially to the industrial, aeronautics, security, and medical markets. Founded in 1997, Tronics is located in Crolles, near Grenoble (France) and in Dallas, Texas (United States), and has around 100 employees, most of them engineers and scientists. Following a tender offer ending January 2017, TDK Electronics AG now holds 74 percent of Tronics' shares.

* ISIN code : FR0004175099 ALTRO

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 the areas of information and communication technology and automotive, industrial and consumer electronics. The company has a network of design and manufacturing locations and sales offices in Asia, Europe, and in North and South America. In the 2021 financial year, TDK achieved a turnover of USD 13.3 billion and employed around 129,000 people worldwide

TRONICS CONTACT Vincent Gaff

Director, Marketing & Business Development Phone: [phone] [e-mail]

For more information:www.tronicsgroup-bourse.com/en/

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