For Immediate Release Contact in TDK: Nobuyuki Koike TDK Corporation Corporate Communications Dept. Tel: (81)-3-5201-7102 E-mail; pr@mb1.tdk.co.jp Basic Agreement with Alps on Acquisition of HDD head related Assets TOKYO, JAPAN, March 15, 2007,--TDK Corporation (TDK) announced today that it has concluded a basic agreement (Memorandum of Understanding) with Alps Electric Co. Ltd. (Alps) regarding an acquisition from Alps of its equipment and intellectual property rights such as patent properties and know-how concerning HDD (Hard Disc Drive) head business, and has commenced negotiations with Alps to conclude a definitive contract. TDK aims at concluding and executing the definitive contract with Alps as soon as practicably possible. Through the acquisition of Alps' technology and know-how, the proposed definitive contract will enhance TDK's ability to compete by improving the efficiency of its operations and enabling TDK to offer enhanced technologies. Furthermore, TDK will make timely report on the schedule and contents of this transaction along with the financial effect of acquisition as soon as the both parties reach certain milestones during the ongoing discussion. - more - About TDK Corporation TDK Corporation (NYSE:TDK ) is a leading global electronics company based in Japan. It was established in 1935 to commercialize "ferrite," a key material in electronics and magnetics. TDK's current product line includes ferrite materials, electronic components, wireless computer networking products, magnetic heads for HDD, and advanced digital recording media. Net sales in FY March 2006 were ca. US $6.8 billion. For more information about TDK, please visit http://www.tdk.co.jp/tetop01/index.htm About Alps Electric Co., Ltd. Alps Electric Co., Ltd. (TYO: 6770), a Japanese corporation, is one of the world's leading companies engaged in manufacture and sale of electric and electronic components and parts. Alps has manufactured various electronic components since its foundation in 1948. Based on innovative proprietary technology and market outlook, Alps provides cutting-edge electronic components that contribute to the advancement of a multimedia society in the five business fields, Mechatronic Devices, Automotive Electronics, Communications, Peripheral Products and Magnetic Devices. Net sales in FY March 2006 were ca. US $6 billion. For more information, visit http://www.alps.co.jp. # # # This information is provided by RNS The company news service from the London Stock Exchange
TDK Corporation announces Basic Agreement with Alps
| Source: TDK Corporation
Tokyo, Japan -- (MARKET WIRE) -- March 15, 2007 --