TDK Corp. said Tuesday its group net profit for the April-June quarter fell 90.6 percent from the same period a year earlier to 1.21 billion yen.

In its quarterly earnings report calculated under U.S. accounting rules, the major electronic parts maker said its group pretax profit sank 86.6 percent to 2.56 billion yen, while its group revenues also dropped 19.6 percent to 141 billion yen.

Group net profit per share in April-June fell to 9.07 yen from 96.37 yen a year earlier.

The company also said it has revised downward its earnings forecast for the full fiscal year to March 31 as earnings are unlikely to recover in the second half.

It expects a group net profit of 21 billion yen, revised down from the previous estimate in May of 28.5 billion yen, and a group pretax profit of 31 billion yen, down from 42 billion yen, on group revenues of 645 billion yen, down from 690 billion yen.

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