Taiyo Yuden announced its latest financial report on Tuesday, showing that its full-year operating profit for 2019 increased by 5.5% to 37.1 billion yen. However, under the influence of the pandemic, Taiyo Yuden estimates that its operating profit will decrease by 68.7% to 3 billion yen in the first fiscal quarter of 2020.

Taiyo Yuden said that although demand in Asia and Europe has weakened last year, it has been slowly picking up overall. However, due to the Covid-19 pandemic, the global economy began to decline in 2020. It is estimated that the company will still be affected by the epidemic in a short period of time, and the risk of a downturn in the economy may be further exacerbated.

According to Taiyo Yuden’s financial report, its capacitors have increased compared with the previous year, and its annual revenue has increased by 3.4% to 176.4 billion yen; Ferrite and application products fell compared with the previous year, revenue decreased by 4.5% to 38.7 billion yen;FBAR / SAW products performed better than the previous year, with annual revenue growth of 3.9% to 49.8 billion yen; revenue from components such as aluminum electrolytic capacitors increased by 13.8% to 17.2 billion yen. (Including data from its subsidiary Elna)

In the April-June 2020 financial forecast, Taiyo Yuden predicted that revenue would decrease by 12.6% to 60 billion yen on year, while operating profit was estimated to decrease by 68.7% to 3 billion yen on year.

In addition, Taiyo Yuden said in its financial report that during the COVID-19 pandemic, the company believes that it is not possible to make a reasonable prediction of the full-year performance at this stage, so it only announced the first fiscal quarter financial forecast, and annual financial forecast will be announced at an appropriate time.