Murata Manufacturing's quarterly net profit dropped 25.1% to ¥49.7 billion, hit by falling product prices and a stronger yen, but beat analysts' ¥41 billion estimate. Quarterly revenue fell 1.3% to ¥416.2 billion; operating profit dropped 7.2% to ¥61.6 billion.
The Components division stood out with 7.2% revenue growth to ¥269.8 billion: MLCC-based capacitors rose 6.9% to ¥217.3 billion; inductors/EMI filters gained 8.7% to ¥52.5 billion. The Modules division struggled, with revenue plunging 14.7% to ¥142.6 billion—high-frequency/communication modules (-17.4%), energy/power components (-16.1%), and functional components (-1.6%).
Total orders reached ¥431.1 billion (+0.3% YoY), with capacitor orders up 5.1% to ¥224 billion, driven by AI server demand. The BB ratio hit 1.04, staying above 1 for 3 straight quarters—a 5-quarter high.
AI server parts demand remains solid, but smartphone high-frequency modules slipped. Murata kept full-year forecasts: revenue seen down 5.9% to ¥1.64 trillion; operating profit and net profit to drop 21.3% and 24.3% respectively.
Murata's results face headwinds, but AI server demand offers support. ICgoodFind tracks its next moves.
