Now it's on time. We would like to start the performance briefing sessions of Q3 of FY March 2022 of TDK Corporation. Today's speaker is Executive Vice President Tetsuji Yamanishi. I'm Yamanishi. Hello, everyone. Thank you very much. Okay. I'm Yamanishi speaking. Thank you very much for joining us today in your very busy schedule. Thank you. Okay, then, I'd like to start with the performance briefing of Q3 of FY March 2022. I start with the key points concerning earnings. Even under the COVID-19 pandemic and continuing from the first half, and that normalizations of the social and economic activities is going on all over the world, but that is still the constraints on the supply chains and have a prolong it. So that would adverse effects to the production units of automobiles and smartphone.
On the other hand, now at our electronics business have been steady so that we could have the increase in sales in all segments and including the improvement of profits under the Passive components and also the Sensor profitability have increased, and we have a very well-balanced earnings structure. Sales have increased by 26.3% year-on-year, and operating income have increased by 31.3% year-on-year. For both the Q3 and the first nine months of the fiscal year have boost and have recognized an all-time high. In Automobile markets, due to the shortage of semiconductors, for example, that have lowered the production units year-on-year.
Still, the further development of xEV and the further electrification of ADAS have increased it and the number of components installed per vehicle that have had favorable for our business, so that our business is steady, and we could expand the sales of the Passive components as well as Sensors. In ICT markets, the shortage of the semiconductors have pushed down the production of smartphones and also were lower than the last year. Our own components have adapted more in the smartphones. On the top of that, with a strong demand in the PC and the tablets have made a contribution of a steady business and still that's a very good investment to the data center, pushing up the server demands.
In all of these, our sales on the Secondary Battery, Sensor as well as HDD head have increased. In the end of the market of Industrial equipment, now the CapEx has been steady by the corporations and in our sales for that semiconductor manufacturing equipment and renewable energy have increased. Passive components and Industrial Power Supply have expanded the sales. For the secondary battery have a very good business, including that's the increasing sales of the middle size of the battery for the home use ESS. Just like under this and the good favorable environment, in the first nine months of this fiscal year have largely surpassed our forecast. That's why. The full year projection were revised upward in light of operating results through Q3 and that latest order trends.
Again, we have this revision from the last time in October. I will explain the details later. Next, let me talk about the consolidated result of the first nine months of the Q3. Exchange impacted to that, the net sales have about JPY 85.3 billion and JPY 3.5 billion in operating income, including all these. The total sales was JPY 1,393.9 billion. That is JPY 307.1 billion or 28.3% increase year-on-year. Operating income was JPY 139.2 billion. That is JPY 31.8 billion or 29.5% up from the year earlier. The income before tax was JPY 146.6 billion. Net income was JPY 117.3 billion.
In all these KPIs, we could recognize an all-time high. Earnings per share was JPY 309.53 . When it comes to the sensitivity to the currency, there's no change before. The JPY 1 change to the dollar have the impact on the operating income of JPY 1.2 billion and JPY 200 million for the euro. Next, let me report about the consolidated results for Q3. Again, the exchange impacts on the sales had a JPY 39.9 billion and also JPY 5.3 billion impact on the operating income. Including all these impacts, the total net sales was JPY 499.7 billion. That is JPY 104 billion or 26.3% increase year-on-year. Operating income was JPY 59.2 billion.
That is JPY 14.1 billion, 31.3% increase year-on-year. Income before tax was JPY 62.2 billion, and net income was JPY 49.1 billion. Just like for the nine months, for the first nine months, and the total also we have the record high KPIs for all these and the figures. Earnings per share was JPY 129.50. Next. Now let me talk about the segment-wide business performance in Q3. The Passive components segment, the sales were JPY 129.5 billion. That is 18.3% increase year-on-year. The demand in Automotive markets have been pushed up by the increasing number of components and mounted onto the vehicles. Also now on an industrial equipment markets or the renewable energy business also have been favorable.
In the ICT market, although the demand in smartphones declined, but other strong demand in base stations, wearable devices have more than offset. In all these installations, we could have the positive growth in all of the segments. Operating income was JPY 22.6 billion. That is 69.3% increase year-on-year. Operating income margin was 17.5% with increase of profitability. Business-wise, excluding High-Frequency components, we have all the profit increase, particularly improvement of the profitability of capacitors and inductors that pushed up the business performance of all the segment. When it comes to High-Frequency components, profits have declined slightly due to the upfront investment for the R&D for new products. Next, Sensor Application Products segments.
Now, we have consecutively the positive all-time high sales from the last Q3. Also in this Q3, we also have a record high sales of JPY 36.1 billion. That is a 57.1% increase year-on-year. Operating income also secured the profits, including the pushed up sales and also the better product mix. Now we have pushed up the profitability from the Q2, and now we have the operating income margin of over 10%. As a result of that, also in the first nine months of the fiscal year, we could secure the profits. The temperature and the pressure sensors, there was very steady demand for the Industrial Equipment or the home appliances.
We have the increased sales also for the Hall s ensors, and that is supported by the Automotive markets, and we have largely improved the profits. TMR sensor is in the ICT markets now and the increase of demand in ICT market, and adapted for the new applications, and we have the largely substantial increase of the sales and the profits. For the MEMS sensors, we could enjoy the expansion of customer base and application base now have reflected steadily on the performance. Motion sensors, MEMS microphone sales have increasing area and substantially, and now with the profitability improvement, we could successfully shrink the loss.
Next, Magnetic Application Products business. Net sales was JPY 64 billion, 14.4% year-on-year. Operating income was JPY 3.3 billion, down 22.5% year-on-year. Here, may I remind you that in the third quarter previous year, we had booked JPY 2.4 billion from the sales gain of suspension business. In substance, this segment was able to secure growth in profit. HDD and heads server demand for data centers has been firm. Nearline HDD and heads grew 1.8x in volume. The total HDD and heads became profitable with its volume growing 28%. Hard disk drive suspension nearline on the hard disk drives for the major customers and data centers continued to be firm, giving us growth both in revenue and profit. Magnets. Sales for Automotive has been firm in sales.
With the price increase of raw materials, loss number increased slightly. Next, I will explain our Energy Application Products. Revenue was JPY 256.1 billion. Operating income was JPY 30.9 billion, up 31.1% in sales, and 8.9% in profit year-on-year. As for Rechargeable Batteries, this segment was impacted by the FX changes as well as the increased price of raw materials. Talking of FX, the cheaper Japanese yen. If we are to exclude this, with the smartphone production decline as much as 11% from the previous year, sales for smartphones declined. In contrast, power cells for electric motorcycles and the residential energy storage systems expanded. For the entire business, it became almost flat year-on-year, excluding FX impact and also the price factor.
Operating income, while the real sales did not grow, we made efforts to improve cost and fixed cost efficiency, and we are seeing improved profit starting from the second quarter. In the third quarter this year, raw materials and price started again going up rapidly. Now we still have some potential factor to push down profit. Also now we have about JPY 5.1 billion as the royalty need to be paid. As for the Industrial Equipment, the power devices demand in the section actually has been rather firm, giving us opportunity to increase the revenue. We also have been faced with an increase in the materials, so we have to procure.
Also we have been with the COVID-19 and with all these factors in place, we are having a slight decline in profit. Next, I would like to go through the factors behind the ups and downs of sales and operating profit numbers for the third quarter by segment. First, the Passive components segment. Net sales was up JPY 2.2 billion, or 1.7% from the second quarter. Operating income was up JPY 1.3 billion, or 5.9%. Also sales, it grew slightly, thanks to the strong Auto market. In the Industrial Equipment market, renewable energy and manufacturing facilities grew in sales, whereas in the ICT market, sales for smartphones declined. The business side, it became profitable except for the RF components. Operating income slide. Capacitors and inductors contributed to the overall profit growth.
Next, Sensor Application Products. Revenue here was JPY 3.5 billion, up 10.6%. Operating income was up JPY 2.3 billion. We continued to improve further since the second quarter. Temperature and pressure sensors slightly declined, partially due to the seasonal factor. In MEMS sensors, Hall sensors grew firmly, particularly for the Auto, and TMR sensors grew significantly in the sales volume of new products since Q2, thanks to the major customers for smartphones. Motion sensors are firmly growing in sales, thanks to the expanded base of customers and applications. Operating income growth significantly, thanks to the good business of TMR sensors. Motion sensors contributed greatly to profit, reflecting the improved customer mix and product mix. All in all, they contributed greatly to the overall profit improvement.
Next, I will explain Magnetic Application Products, revenue being JPY 1.3 billion, down 2.1%. Operating income was down JPY 2.7 billion, excluding a one-time cost of about JPY 4 billion we had in second quarter. Revenue, now HDD heads volume, mainly for PCs, was down about 8%. Hard disk drive assembly sales volume also was down about 15%. In contrast, HDD suspensions had growth in profit driven by nearline business. Magnets. This business grew in profit, thanks to the firm demand for Auto. Operating income declines sharply due to the decline in HDD heads volume, as well as the selling price, the pricing erosion. Suspension improved on its profit, driven by the growth in sales and the mixture improvement by high-value products.
Magnets are still in loss because the impact from the price rise is still with us. Next, Energy Application Products segment. Revenue was JPY 20.6 billion, up 8.8%. Operating income was JPY 4.7 billion, up 13.6%. Rechargeable Batteries. Our sales grew, thanks to the increased production volume of smartphones. Power supply products sales grew. Even when excluding the FX impact and raw materials and price increase shifted to our selling price, revenue actually grew from the second quarter. Industrial Power Supplies grew slightly in revenue. Operating income. Raw materials cost for the Rechargeable Batteries started rising further from the second quarter, and its impact is still with us. We made further efforts to improve the efficiency of fixed costs, resulted in the improved profitability starting from the second quarter.
Industrial Power Supplies, thanks to the increased sales, resulted in the growth both in revenue and profit. Next, I will go into details of JPY 14.1 billion of the operating income. With the growth in sales of Passive components, profit expanded. With the sensor business becoming profitable, profit expanded. With the recovered profit of HDD heads, though we had some impact from the rising cost of materials, we had an increase in profit as much as JPY 12.6 billion. Impact from the sales price discounts remained rather small. Rationalization, cost down efforts, as well as the impact of JPY 8.6 billion coming from the structural reform we executed in the fourth quarter in the previous year, in the previous fiscal year, our profit has been raised up.
This year actually now increased JPY 12.5 billion. Major factors for that, first, in the third quarter previous year, we had in the sales of the suspension business almost JPY 2.4 billion. Also the Rechargeable royalty and cost being JPY 5.1 billion. With the COVID-19 going on, there has been you know, price increase in the distribution cost. Well, of course, the Japanese yen becoming cheaper, actually up JPY 5.3 billion. All in all, it is going to be a JPY 14.1 billion improvement in our profit. Lastly, I will explain our focus for the full year and consolidated performance.
As I said this in the outset, with the actuals and up until the third quarter, and in light of the orders that we have received in the latest quarter, we revised upward our last numbers we announced back in November the 1st. We made this revision again. Full year net sales is now JPY 1.85 trillion. Operating income, JPY 160 billion. Income before income taxes, now JPY 168 billion. Net income is now JPY 113 billion. As for net sales, demand for the Passive components, particularly now for Auto and Industrial equipments. Also now for the Rechargeable Batteries, demand for smartphones turned out to be much stronger than we had expected. These are the reasons why we wanted to actually now make the upward revision.
As for the operating income, we expect to grow the profit thanks to the increased sales. We are also expecting to have one-time cost of JPY 9 billion for the consolidation of locations, as well as the sale and disposition of assets. That is being expected in the fourth quarter. We expect to have one-time cost of tax around JPY 17 billion. That is expected in the fourth quarter. With this in place, we are happy now to announce that we made these revisions. As for the year-end dividend and CapEx and depreciation, amortization, and R&D costs, there's been no change since the last time announcement. This concludes my explanation. Thank you indeed for your kind attention.