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    6981   JP3914400001

MURATA MANUFACTURING CO., LTD

(6981)
  Report
Delayed Japan Exchange  -  02:00 2022-08-08 am EDT
7777.00 JPY   -0.66%
08/05NOTICE REGARDING STATUS OF PURCHASE OF THE COMPANY'S OWN SHARES (PDF : 84.0kb)
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07/28MURATA MANUFACTURING : First Quarter of FY2022
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07/28MURATA MANUFACTURING : First Quarter of FY2022
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Murata Manufacturing : Consolidated Financial Statements and Auditor's Report (For the year ended March 31, 2022)

06/29/2022 | 03:47am EDT

Consolidated Financial Statements

and Auditor's Report

Year Ended March 31, 2022

I n d e x

Financial Data

01

Financial Data

Section

02

Productions, Orders, Backlogs, and Sales by Product

03

Capital Expenditures

04

Consolidated Balance Sheets

06

Consolidated Statements of Income

06

Consolidated Statements of Comprehensive Income

07

Consolidated Statements of Shareholders' Equity

08

Consolidated Statements of Cash Flows

09

Notes to Consolidated Financial Statements

43

Independent Auditor's Report

Internal Control

48

Internal Control Section

Section

49

Management's Report on Internal Control

50

Independent Auditor's Report

Financial Data

Murata Manufacturing Co., Ltd. and Subsidiaries Years ended March 31, 2018-2022

Net sales

(Billions of yen)

2,000

1,500

1,000

500

0

'18 '19 '20 '21 '22

Basic earnings attributable

to Murata Corporation

per share*1

(Yen)

500

400

300

200

100

0

'18 '19 '20 '21 '22

Net income attributable to Murata Corporation

350

(Billions of yen)

300

250

200

150

100

50

0

'18 '19 '20 '21 '22

Shareholders' equity

(Billions of yen)

2,500

2,000

1,500

1,000

500

0

'18 '19 '20 '21 '22

Net income attributable to Murata Corporation / Net sales

20

(%)

15

10

5

0

'18 '19 '20 '21 '22

Net income attributable to

Murata Corporation

/ Shareholders' equity

(%)

20

15

10

5

0

'18 '19 '20 '21 '22

Total assets

(Billions of yen)

3,000

2,500

2,000

1,500

1,000

500

0

'18 '19 '20 '21 '22

Income before income taxes / Total assets (%)

20

15

10

5

0

'18 '19 '20 '21 '22

*1 Based on the average number of common shares outstanding. The Company executed a three-for-one common stock split, effective April 1, 2019. Basic earnings attributable to Murata Corporation per share were calculated as if the relevant stock split was executed at the beginning of the previous consolidated fiscal year ended March 31, 2018. There are no potential dilutive securities.

Shareholders' equity

Capital expenditures

Cash dividends

Total return*4

per share*2 (Yen)

(Billions of yen)

per share*3 (Yen)

(Billions of yen)

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

0

'18 '19 '20 '21 '22

350

300

250

200

150

100

50

0

'18 '19 '20 '21 '22

140

120

100

80

60

40

20

0

'18 '19 '20 '21 '22

100

80

60

40

20

0

'18 '19 '20 '21 '22

*2 Based on the number of common shares outstanding at term-end. The Company executed a three-for-one common stock split, effective April 1, 2019. Shareholders' equity per share was calculated as if the relevant stock split was executed at the beginning of the previous consolidated fiscal year ended March 31, 2018.

*3 The Company executed a three-for-one common stock split, effective April 1, 2019. Cash dividends per share for the years ended March 31, 2018 and 2019 were calculated as if the relevant stock split was executed at the beginning of the previous consolidated fiscal year ended March 31, 2018.

*4 Total of dividend payments and share buyback.

01

Productions, Orders, Backlogs, and Sales by Product

Murata Manufacturing Co., Ltd. and Subsidiaries

Year ended March 31, 2022

Millions of yen

Component

Ratio against

Thousands of

ratio

the previous year

U.S. dollars

2022

Productions by Product

%

%

Capacitors ......................................................

¥

857,046

44.7

36.7

$

7,024,967

Piezoelectric Components ..............................

147,420

7.7

18.0

1,208,361

Other Components .........................................

495,569

25.8

27.8

4,062,041

Components Total ..........................................

1,500,035

78.2

31.6

12,295,369

Modules .................................................

417,538

21.8

(15.4)

3,422,442

Total ................................................................

¥

1,917,573

100.0

17.4

$

15,717,811

*1 Figures in the tables for each product are based on sales price to customers.

*2 Capacitor's productions for this year increased drastically compared to the previous year. This is because of the increased sales of multilayer ceramic capacitors (MLCCs) for car electronics and personal computers (PCs).

*3 The tables by product indicate productions, orders, backlogs, and sales of electronic components and related products.

Millions of yen

Component

Ratio against

Thousands of

ratio

the previous year

U.S. dollars

2022

Orders by Product

%

%

Capacitors ........................................................

¥ 823,478

43.4

16.5

$ 6,749,820

Piezoelectric Components ...............................

120,215

6.3

(20.8)

985,369

Other Components ...........................................

479,544

25.3

5.7

3,930,688

Components Total .............................................

1,423,237

75.0

8.4

11,665,877

Modules ....................................................

473,889

25.0

(6.9)

3,884,336

Total ...................................................................

¥1,897,126

100.0

4.1

$15,550,213

* Figures in the tables for each product are based on sales price to customers.

Millions of yen

Component

Ratio against

Thousands of

ratio

the previous year

U.S. dollars

2022

Backlogs by Product

%

%

Capacitors ........................................................

¥ 227,942

43.7

20.1

$ 1,868,377

Piezoelectric Components ...............................

24,859

4.8

(42.2)

203,762

Other Components ..........................................

146,225

28.0

15.0

1,198,566

Components Total .............................................

399,026

76.5

10.9

3,270,705

Modules ....................................................

122,798

23.5

64.9

1,006,541

Total ...................................................................

¥ 521,824

100.0

20.1

$ 4,277,246

*1 Figures in the tables for each product are based on sales price to customers.

*2 Piezoelectric Component's backlogs for this year decreased drastically compared to the previous year. This is because of the decreased backlogs of SAW filters for smartphones.

*3 Module's backlogs for this year increased drastically compared to the previous year. This is because of the increased backlogs of connectivity modules for IoT market and the increased backlogs of power supplies modules.

Millions of yen

Component

Ratio against

Thousands of

ratio

the previous year

U.S. dollars

2022

Sales by Product

%

%

Capacitors ........................................................

¥

785,254

43.4

25.3

$

6,436,508

Piezoelectric Components ...............................

138,357

7.7

7.0

1,134,074

Other Components ..........................................

460,443

25.4

18.8

3,774,123

Components Total .............................................

1,384,054

76.5

21.0

11,344,705

Modules ....................................................

425,562

23.5

(12.1)

3,488,213

Total ...................................................................

¥

1,809,616

100.0

11.2

$

14,832,918

02

Capital Expenditures

Murata Manufacturing Co., Ltd. and Subsidiaries

Year ended March 31, 2022

  1. Capital expenditures for the fiscal year ended March 31, 2022 amounted to ¥152,786 million ($1,252,344 thousand).
    Major capital expenditures included the expansion and rationalization of production facilities, acquisition of land and buildings and expansion of R&D facilities.
  2. Major property, plant and equipment on a net book value basis at March 31, 2022 was as follows:

Millions of yen

Land

Buildings

Machinery

Construction

Total

and equipment

in progress

Parent Company

Plant, Office and other

Head Office in Kyoto ................................................

¥

4,541

¥ 3,742

¥ 6,149

¥

86

¥14,520

Nagaoka Plant in Kyoto ...........................................

29

4,858

210

531

5,630

Yokaichi Plant in Shiga ............................................

575

20,736

11,773

1,733

34,819

Yasu Division in Shiga .............................................

7,515

33,083

18,979

3,606

63,184

Yokohama Technical Center in Kanagawa ..............

1,797

2,312

733

10

4,853

Minato MIRAI Innovation Center in Kanagawa ......

10,526

33,278

3,248

103

47,156

Other ........................................................................

7,693

569

45

8,308

Millions of yen

Land

Buildings

Machinery

Construction

Total

and equipment

in progress

Domestic Subsidiaries

Company Name

Fukui Murata Manufacturing Co., Ltd. ..........

¥4,422

¥54,971

¥55,188

¥9,803

¥124,384

Izumo Murata Manufacturing Co., Ltd. ...............

3,760

47,104

36,567

4,152

91,583

Okayama Murata Manufacturing Co., Ltd. .............

857

41,148

25,828

3,978

71,811

Kanazawa Murata Manufacturing Co., Ltd. ............

2,650

29,618

22,548

3,083

57,899

Toyama Murata Manufacturing Co., Ltd. ...............

2,102

14,877

13,613

1,481

32,073

Komoro Murata Manufacturing Co., Ltd. ..................

773

4,492

9,934

566

15,765

Millions of yen

Land

Buildings

Machinery

Construction

Total

and equipment

in progress

Foreign Subsidiaries

Company Name

Wuxi Murata Electronics Co., Ltd. ...........................

¥

¥34,268

¥74,114

¥

8,719

¥117,101

Murata Energy Device Wuxi Co., Ltd. ......................

20,148

26,015

497

46,660

Murata Electronics Singapore (Pte.) Ltd. .................

4,018

9,928

28,340

3,463

45,749

Philippine Manufacturing Co. of Murata, Inc. ...........

1

9,307

18,058

12,861

40,227

Murata Electronics (Thailand), Ltd. ..........................

5,329

9,611

12,846

6,715

34,501

Shenzhen Murata Technology Co., Ltd. ..................

13,398

17,751

97

31,246

03

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Murata Manufacturing Co. Ltd. published this content on 29 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 29 June 2022 07:46:07 UTC.


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Net income 2023 329 B 2 430 M 2 430 M
Net cash 2023 545 B 4 027 M 4 027 M
P/E ratio 2023 14,7x
Yield 2023 1,89%
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Free-Float 92,8%
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Last Close Price 7 777,00 JPY
Average target price 9 911,11 JPY
Spread / Average Target 27,4%
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Masanori Minamide Manager-Finance, Accounting & Planning Group
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Hiroshi Iwatsubo Director & Managing Executive Officer
Nagato Omori Head-Technology Development & Business Planning
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