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    6981   JP3914400001

MURATA MANUFACTURING CO., LTD

(6981)
  Report
Delayed Japan Exchange  -  08:52 2022-12-07 pm EST
7199.00 JPY   -2.04%
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Murata Manufacturing : First Quarter of FY2022

07/28/2022 | 02:18am EST

Earnings Release Conference First Quarter of FY2022

(April 1, 2022 to June 30, 2022)

July 28, 2022

Murata Manufacturing Co., Ltd.

1 Copyright © Murata Manufacturing Co., Ltd. All rights reserved.

Topics

  • Net sales remained almost unchanged year on year. While sales of multilayer ceramic capacitors increased for mobility partly due to a boost from the depreciation of the yen, sales of SAW filters and high-frequency modules decreased for smartphones. Net sales ended in line with the assumption of the April forecast.
  • Operating income decreased year on year. Operating income fell mainly due to a loss in productivity from lower capacity utilization, an increase in fixed costs and surges in material prices despite a profit-increasing effect resulting from the depreciation of the yen.
  • The Company has not revised the projected financial results for the year ending March 31, 2023, which were announced on April 28, 2022.

Copyright © Murata Manufacturing Co., Ltd. All rights reserved.

2

First Quarter of FY2022

From April 1, 2022 to June 30, 2022 Consolidated Basis

3 Copyright © Murata Manufacturing Co., Ltd. All rights reserved.

Financial Results

Quarterly Financial Results

(B JPY)

Operating income

Income before income taxes

(B JPY)

Net income attributable to Murata Corporation

Sales

140.0

600.0

INCOME

120.0

500.0

SALES

100.0

400.0

80.0

300.0

60.0

200.0

40.0

20.0

100.0

0.0

0.0

FY19

FY20

FY21

FY22

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

2Q

3Q

4Q

1Q

Copyright © Murata Manufacturing Co., Ltd. All rights reserved.

4

Financial Results

Financial Results Overview

FY2021

FY2021

FY2022

Y on Y Change

Q on Q Change

1st Quarter

4th Quarter

1st Quarter

(B JPY)

(%)

(B JPY)

(%)

(B JPY)

(%)

(B JPY)

(%)

(B JPY)

(%)

Net sales

439.6

100.0

433.1

100.0

436.7

100.0

(2.9)

(0.7)

+3.6

+0.8

Operating income

105.1

23.9

88.0

20.3

88.6

20.3

(16.5)

(15.7)

+0.6

+0.7

Income before income

103.7

23.6

89.8

20.7

101.2

23.2

(2.5)

(2.4)

+11.4

+12.7

taxes

Net income attributable

77.2

17.6

63.7

14.7

75.2

17.2

(2.0)

(2.6)

+11.5

+18.1

to Murata Corporation

Average exchange rates

109.49

116.21

129.57

yen/US dollar

  • Net sales remained almost unchanged year on year. While sales of multilayer ceramic capacitors increased for mobility partly due to a boost from the depreciation of the yen, sales of SAW filters and high-frequency modules decreased for smartphones.
  • Operating income decreased year on year. Operating income fell mainly due to a loss in productivity from lower capacity utilization, an increase in fixed costs and surges in material prices despite a profit-increasing effect resulting from the depreciation of the yen.
  • The reason why income before income taxes grew significantly compared with the last quarter is an increase in foreign exchange gains caused by the depreciation of the yen.

Note: 1 yen appreciation or depreciation against the U.S. dollar for FY2022 is estimated to have an annualized impact of 11.0 billion yen on net sales, and 6.0 billion yen on operating income.

Copyright © Murata Manufacturing Co., Ltd. All rights reserved.

5

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Disclaimer

Murata Manufacturing Co. Ltd. published this content on 28 July 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 July 2022 06:17:04 UTC.


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Financials
Sales 2023 1 859 B 13 591 M 13 591 M
Net income 2023 309 B 2 261 M 2 261 M
Net cash 2023 529 B 3 870 M 3 870 M
P/E ratio 2023 15,1x
Yield 2023 2,04%
Capitalization 4 628 B 33 841 M 33 841 M
EV / Sales 2023 2,21x
EV / Sales 2024 2,01x
Nbr of Employees 76 711
Free-Float 92,0%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 7 349,00 JPY
Average target price 9 217,65 JPY
Spread / Average Target 25,4%
EPS Revisions
Managers and Directors
Norio Nakajima President & Representative Director
Masanori Minamide Manager-Finance, Accounting & Planning Group
Tsuneo Murata Chairman
Hiroshi Iwatsubo Director & Managing Executive Officer
Nagato Omori Head-Technology Development & Business Planning
Sector and Competitors