Murata Manufacturing’s second-quarter operating profit rose 42% year on year, driven by strong multilayer ceramic capacitor sales. The company raised its full-year operating profit forecast by 21% and announced plans to invest JPY 1 trillion between 2026 and 2030 to meet growing medium-term demand.
Murata will benefit from the increasing demand for passive components per phone, as a result of advancing telecommunications technology. In particular, the diffusion of LTE and LTE-Advanced networks will be the driver.
The average pricing of smartphones has been gradually decreasing since 2012, and the profitability of handset makers is declining as a result. Consequently, price-cutting pressure on components will strengthen.
Metric | 6981 | 6976 | KYOAY |
|---|---|---|---|
Price/Earnings (Normalized) | 32.98 | 50.00 | 27.70 |
Price/Book Value | 3.43 | 2.47 | 1.20 |
Price/Sales | 4.71 | 2.56 | 1.89 |
Price/Cash Flow | 18.77 | 12.89 | 16.11 |
Metric | 6981 | 6976 | KYOAY |
|---|---|---|---|
Quick Ratio | 3.16 | 1.77 | 1.73 |
Current Ratio | 4.96 | 3.06 | 2.86 |
Interest Coverage | 41.48 | 11.73 | 8.73 |
Metric | 6981 | 6976 | KYOAY |
|---|---|---|---|
Return on Assets (Normalized) | 10.40% | — | 3.00% |
Return on Equity (Normalized) | 12.21% | — | 4.17% |
Return on Invested Capital (Normalized) | 11.42% | — | 2.63% |
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