Japanese MLCC giant Murata Manufacturing announces financial results for fiscal year 2023

Murata Manufacturing, a Japanese MLCC giant, reported in its financial report for fiscal year 2023 (April 2023 to March 2024) that despite the increase in demand for smartphones and automotive applications, the combined revenue decreased by 2.8% year-on-year to 1640.2 billion yen due to the decrease in PC and industrial demand. In addition, due to the decline in capacity utilization, the decline in product prices, and the provision of 49.5 billion yen in impairment losses for the cylindrical lithium-ion battery business, the combined operating profit decreased by 27.8% to 215.4 billion yen, and the combined net profit decreased by 25.9% to 180.8 billion yen.