BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - TDK Corporation (TTDKF.PK, TTDKY.PK) reported first quarter net income to owners of parent of 59.6 billion yen, an increase of 304.9% from a year ago. Earnings per share was 156.94 yen compared to 38.76 yen. First quarter sales were 518.81 billion yen, up 3.1% from prior year.
TDK Corporation also announced the formation of a new corporate legal entity, TDK SensEI, headquartered in Singapore, to address the growing market of the intersection of artificial intelligence and sensor fusion at the edge. The organization will focus on Industry 4.0 solutions. Sandeep Pandya has been recruited to lead TDK SensEI as Chief Executive Officer.
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