Announcement of Business Restructuring in SHANGHAI FDK

May 26, 2004

FDK Corporation announced today it would start the hybrid module manufacturing for LCD in SHANGHAI FDK which is the subsidiary of FDK located in Shanghai, China, corresponding to the expansion of the flat panel display market in Shanghai and Jiangsu area. It aims SHANGHAI FDK to be strengthen manufacturing capability of products for flat panel displays as the manufacturing base and also to be strengthen the existing inverter transformer manufacturing.

As located many manufacturing plants of personal computers and LCD panel manufacturers, Shanghai and Chang Jiang Delta Area have been rapidly expanding as a major production area of high tech products. As a base of hybrid modules for LCDs, SUZHOU FDK had been already established in 2001 and customers of Suzhou area have been supplied these products by it. By cooperation of Suzhou and Shanghai bases, finely-tuned responses to customers will be attained in addition to the expansion of supply them to customers in Shanghai area.

Regarding ferrite products currently manufacturing in SHANGHAI FDK, they will be transferred to manufacture in the new joint venture in Nanjing area during the first half of fiscal year (please refer to the attached release: "On Merger with NANJING FDK and Jinning Sanhuan Hi-Tech. Magnetic").

From now on, SHANGHAI FDK will be the critical manufacturing base of modules and parts focused on modules for flat panel displays and inverter transformers

Company Profile

2. President: Isamu Sasaki
3. Address: 499 Dong Qu Road, Songjiang Industrial Zone, Shanghai, China
4. Established: August 8, 1995
5. Products: Transformers, Choke coils, Ferrite cores
6. Fiscal Year End: End of December
7. Net Sales: RMB 248 million (Jan 1, 2003 - Dec 31, 2003)
8. Employees: 1,315 (March 31, 2004)
9. Capital: RMB 116 million (March 31, 2004)
10. Sponsors (Ratio): FDK CORPORATION (100%)

Media inquiries should be directed to:
Corporate Communication Group
FDK Corporation


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