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Presentation materials for financial results6981Murata Manufacturing Co.,Ltd.Electric Appliances & Precision Instruments

Materials for the briefing on financial results for the second quarter of the fiscal year ending March 2027

In the first half of fiscal 2026, revenue and operating profit reached record highs, driven by growing demand from data centers and mobility applications, as well as the weaker yen. The full-year forecasts were also revised upward by ¥150 billion for revenue and ¥90 billion for operating profit, and the company outlined plans to invest approximately ¥1 trillion from 2026 to 2030, primarily in MLCCs.

Worth reading
74In focus
0–100. This measures how worthwhile something is to read, not how good or bad the company is.
Direction
Improvement
Direction inferred from the company’s description.
Scale
1500
¥100 million (upward revision to the full-year revenue forecast versus the July forecast)
Wording
Conditional
How definitive the wording is.

Contents of this document

Presentation materials for financial resultsSecond quarter of the fiscal year ending March 2027 (first half of fiscal 2026)12 items taken from the company’s own explanation
Financial Results Figures (The key points of this material are explained below)
Net Sales¥10,908 100 million+20.8%
Operating profit¥2,459 100 million+48.9%
Ordinary income¥2,484 100 million +42.1%profit before tax
Net income¥1,862 100 million +40.6%profit for the year attributable to owners of the parent
Operating profit margin22.5 %
Results for the three months of the current quarter
Revenue
¥5,885 100 million
Operating profit
¥1,475 100 million
Pretax profit
¥1,392 100 million
Profit for the period attributable to owners of the parent
¥1,048 100 million
Full-year earnings forecast
Revenue
¥22,600 100 million
Operating profit
¥5,200 100 million
Pretax profit
¥5,320 100 million
Profit for the period attributable to owners of the parent
¥3,960 100 million
Capital expenditures
¥2,700 100 million
What the company explained in this material
Self-assessment against the planThe company's self-assessment against its own plan.
Expected to exceed the July earnings forecast
Breakdown of Factors Affecting the ChangeReasons cited by the Company for the change in the figures.
  • Operating leverage gains¥1,080 100 million
  • Rationalization effects¥170 100 million
  • Foreign Exchange Fluctuations¥300 100 million
  • Other (product mix differences, etc.)¥20 100 million
  • Selling-price reductions¥-280 100 million
  • Increase in Depreciation Expense¥-72 100 million
  • Increase in semi-variable and fixed costs¥-410 100 million
Assumptions Underlying the Business OutlookThe assumptions used by the company in preparing its forecast.
  • Exchange rate from the third quarter onward155 JPY/USD
  • Full-year exchange rate157.19 JPY/USD
  • Fiscal 2026 smartphone unit volumes11.6 100 million units
  • Fiscal 2026 automobile production volume9,140 10,000 units
  • Fiscal 2026 PC unit volumes3.5 100 million units
  • Fiscal 2026 production value¥22,780 100 million
New initiatives
  • Expansion of the global production base centered on MLCCs
    Investment amount¥10,000 100 million (five years from 2026 to 2030)
  • Development of a production system comprising 3 domestic facilities and 2 overseas sites
    Building Investment¥3,500 100 million
    Capital expenditures¥6,500 100 million
  • Increase in the fiscal 2026 capital investment plan
    Amount¥2,700 100 million
Key KPIsA metric the company considers important as a management benchmark.
  • Bill-to-book ratio1.28 times
    Year on year against the same period last year1.00 year-on-year
  • Production value¥11,080 100 million
    Year on year against the same period last year¥909 billion year-on-year
  • Revenue from data center-related products¥1,649 100 million
    Year-on-year (%)101.8
  • Orders receivedRecord high
Segment results
  • Capacitors
    Revenue¥6,056 100 million
    Year-on-year (%)33.1
  • Inductors and EMI filters
    Revenue¥1,349 100 million
    Year-on-year (%)21.8
  • High-frequency and communications
    Revenue¥1,985 100 million
    Year-on-year (%)-2.1
  • Energy and power
    Revenue¥787 100 million
    Year-on-year (%)5.1
  • Functional devices
    Revenue¥637 100 million
    Year-on-year (%)22.1
  • Components
    Revenue¥7,451 100 million
    Operating profit¥1,577 100 million
  • Devices and Modules
    Revenue¥3,409 100 million
    Operating profit¥-48 100 million
Medium-term management plan targets
Plan nameMedium-Term Policy 2027
Capital expenditures
¥6,800 100 million
Strategic Investment
¥2,200 100 million
Shareholder Benefits
¥4,000 100 million
Actuals / Forecasts
Capital expenditures
¥5,178 100 million
Strategic Investment
¥598 100 million
Shareholder Benefits
¥2,446 100 million
Financial targets
ROIC (after tax)
Full-Year Forecast (July)13.9 %
Full-Year Forecast (October)16.6 %
DOE
Target5% as a medium-term guideline
Orders received and order backlog
Orders receivedRecord high
Capital expenditures
¥2,700 100 million
Annual Dividend
Unchanged from the previously announced amount (per-share amount and interim period-end breakdown: Not disclosed)
Acquisition of treasury shares
¥1,500 100 million
PeriodFY2026 forecast
Contents of this document
ItemDetails
Document typePresentation materials for financial results
Fiscal Period CoveredSecond quarter of the fiscal year ending March 2027 (first half of fiscal 2026)
Net Sales¥10,908 100 million (YoY +20.8%)
Operating profit¥2,459 100 million (YoY +48.9%)
Ordinary income¥2,484 100 million (profit before tax) (YoY +42.1%)
Net income¥1,862 100 million (profit for the year attributable to owners of the parent) (YoY +40.6%)
Operating profit margin22.5 %
Results for the three months of the current quarterRevenue ¥5,885 100 million / Operating profit ¥1,475 100 million / Pretax profit ¥1,392 100 million / Profit for the period attributable to owners of the parent ¥1,048 100 million
Full-year earnings forecastRevenue ¥22,600 100 million / Operating profit ¥5,200 100 million / Pretax profit ¥5,320 100 million / Profit for the period attributable to owners of the parent ¥3,960 100 million / Capital expenditures ¥2,700 100 million
Self-assessment against the planExpected to exceed the July earnings forecast
Segment resultsSegment Capacitors / Revenue ¥6,056 100 million / Year-on-year (%) 33.1, Segment Inductors and EMI filters / Revenue ¥1,349 100 million / Year-on-year (%) 21.8, Segment High-frequency and communications / Revenue ¥1,985 100 million / Year-on-year (%) -2.1, Segment Energy and power / Revenue ¥787 100 million / Year-on-year (%) 5.1, Segment Functional devices / Revenue ¥637 100 million / Year-on-year (%) 22.1, Segment Components / Revenue ¥7,451 100 million / Operating profit ¥1,577 100 million, Segment Devices and Modules / Revenue ¥3,409 100 million / Operating profit ¥-48 100 million
Breakdown of Factors Affecting the ChangeFactors Operating leverage gains / Amount ¥1,080 100 million, Factors Rationalization effects / Amount ¥170 100 million, Factors Foreign Exchange Fluctuations / Amount ¥300 100 million, Factors Other (product mix differences, etc.) / Amount ¥20 100 million, Factors Selling-price reductions / Amount ¥-280 100 million, Factors Increase in Depreciation Expense / Amount ¥-72 100 million, Factors Increase in semi-variable and fixed costs / Amount ¥-410 100 million
Key KPIsIndicator name Bill-to-book ratio / Value 1.28 times / Year on year against the same period last year 1.00 year-on-year, Indicator name Production value / Value ¥11,080 100 million / Year on year against the same period last year ¥909 billion year-on-year, Indicator name Revenue from data center-related products / Value ¥1,649 100 million / Year-on-year (%) ¥101.8 100 million, Indicator name Orders received / Value Record high / Year on year against the same period last year Not disclosed
Assumptions Underlying the Business OutlookItem Exchange rate from the third quarter onward / Value 155 JPY/USD, Item Full-year exchange rate / Value 157.19 JPY/USD, Item Fiscal 2026 smartphone unit volumes / Value 11.6 100 million units, Item Fiscal 2026 automobile production volume / Value 9,140 10,000 units, Item Fiscal 2026 PC unit volumes / Value 3.5 100 million units, Item Fiscal 2026 production value / Value ¥22,780 100 million
Medium-term management plan targetsPlan name Medium-Term Policy 2027 / Capital expenditures ¥6,800 100 million / Strategic Investment ¥2,200 100 million / Shareholder Benefits ¥4,000 100 million / Actuals / Forecasts Capital expenditures ¥5,178 100 million / Strategic Investment ¥598 100 million / Shareholder Benefits ¥2,446 100 million
Financial targetsROIC (after tax) Full-Year Forecast (July) 13.9 % / Full-Year Forecast (October) 16.6 % / DOE Target 5% as a medium-term guideline
Annual DividendUnchanged from the previously announced amount (per-share amount and interim period-end breakdown: Not disclosed)
Acquisition of treasury sharesAmount ¥1,500 100 million / Period FY2026 forecast
Capital expenditures¥2,700 100 million
Orders received and order backlogOrders received Record high / Order backlog Not disclosed
New initiativesMeasures Expansion of the global production base centered on MLCCs / Investment amount ¥10,000 100 million (five years from 2026 to 2030), Measures Development of a production system comprising 3 domestic facilities and 2 overseas sites / Building Investment ¥3,500 100 million / Capital expenditures ¥6,500 100 million, Measures Increase in the fiscal 2026 capital investment plan / Amount ¥2,700 100 million
Items this document does not state (10)
Gross Profit MarginSelling, general and administrative expensesProgress against full-year forecastUnit price and quantity metricsNumber of stores and locationsNumber of employeesRisk amount incorporated into the outlookPayout ratioMarket Size / ShareKey points of the Q&A

These are items the company does not state in this document. We do not leave them blank, nor fill them in from other sources or by inference.

The reasons the company gives

The company's own explanation, not something inferred from the numbers.

The main factors were increased demand for components, particularly those related to data centers, operating leverage from higher production volumes, and the weaker yen. Although factors reducing profit included higher fixed costs and declines in product prices, the company explained that the factors increasing profit were expected to outweigh them.

How to read this page

This is not the documentKomori reads the disclosure the company filed and writes this summary. Figures are as stated by the company and are not audited.
Weight is not a verdictIt measures how much this changes what the company had already told the market. It is not a view on the shares.
Corrections happenIf the company reissues this disclosure, the page is rebuilt from the corrected version and the revision number moves up.
Materials for the briefing on financial results for the second quarter of the fiscal year ending March 2027 | Murata Manufacturing Co.,Ltd. (6981) timely disclosure | Komori