MLCC Utilization to Pick Up Toward the End of 2024 for Passive Components Suppliers

Kyocera is a Japanese conglomerate that manufactures an array of ceramic components and electronic devices. The company has repeatedly made bolt-on acquisitions to prop up tepid organic growth, but with approximately 300 subsidiaries and three major reporting segments, we think Kyocera has been unable to realize meaningful synergies from them. With its hand in so many different businesses, many of which are unrelated to its core business, the firm has been unable to focus its resources on its most profitable segments.