5. Progress in the integration process with TDK: TDK-EPC as new corporate identity mark
The combination of TDK's components business with EPCOS is proceeding swiftly and according to plan.
Another important milestone has now been reached: The new combined company, which will operate under the name TDK-EPC Corporation, was founded in Japan on October 1, 2009. The components business of TDK and EPCOS will now be handled by this company under the new corporate identity mark TDK-EPC. The established product brands, EPCOS and TDK will continue to be used.
On October 22, 2009, the resolution by the Annual General Meeting on May 20, 2009, concerning the transfer of the shares of the minority shareholders to the majority shareholder TDK Corporation was recorded in EPCOS AG’s commercial register entry. As a result, TDK Corporation holds all EPCOS shares and the public listing of EPCOS AG ends.
Pursuant to a resolution by the Annual General Meeting on May 20, 2009, EPCOS’ fiscal year will be aligned with that of TDK Corporation effective April 1, 2010. The next full fiscal year will therefore run from April 1, 2010, through March 31, 2011. All subsequent fiscal years will then also run from April 1 through March 31.
6. Outlook
The global crisis in the financial markets and its impact on the world’s economy have eased. As a result, demand for electronic components, modules and systems is now growing again. Accordingly, customers have again increased the volume of orders placed with EPCOS, although the absolute volume is still below the level of fiscal 2008.
EPCOS expects to see a moderate sequential rise in sales to between EUR 325 million and EUR 335 million in the first quarter of the short fiscal year 2010 (October 1, 2009, through March 31, 2010). Earnings should improve slightly.
About EPCOS
EPCOS AG is a leading manufacturer of electronic components, modules and systems headquartered in Munich. With its broad portfolio EPCOS offers a comprehensive range of products from a single source and focuses on fast-growing and technologically demanding markets, in particular in the areas of information and communication technology, automotive electronics, industrial electronics and consumer electronics. The EPCOS Group has design and manufacturing locations and sales offices in Europe, Asia, and in North and South America.
Electronic components are found in every electrical and electronic product and are indispensable for their flawless operation. Products from EPCOS store electrical energy, filter frequencies, and protect against overvoltage and overcurrent.
In fiscal 2009 (October 1, 2008, to September 30, 2009), EPCOS posted sales of EUR 1.1 billion. At the end of the fiscal year, the company employed about 20,000 people worldwide.
N.B. All financial data has been compiled to IFRS.
This document may contain forward-looking statements with respect to EPCOS’ financial condition, results of operations, business, strategy and plans. In particular, statements using the words “expects”, “anticipates” and similar expressions, and statements with regard to management goals and objectives, expected or targeted revenue and expense data, or trends in results of operations or margins are forward looking in nature. Such statements are based on a number of assumptions that could ultimately prove inaccurate, and are subject to a number of risk factors, including changes in our customers’ industries, slower growth in significant markets, changes in our relationships with our principal shareholders, the ability to realize cost reductions and operating efficiencies without unduly disrupting business operations, currency fluctuations, unforeseen environmental obligations, and general economic and business conditions. EPCOS does not assume any obligation to update publicly any forward-looking statement, whether as a result of new information, future events or otherwise.
