Murata Manufacturing Co., Ltd. · TSE:6981

Murata Manufacturing — Q2 FY2026 Earnings Presentation

49 slides from Murata Manufacturing's earnings presentation, Oct 30, 2026

  1. Slide 1: Earnings Release Conference Second Quarter of FY2026

    Earnings Release Conference Second Quarter of FY2026 (April 1, 2026 to September 30, 2026) October 30, 2026 Murata Manufacturing Co., Ltd.

  2. Slide 2: Second Quarter of FY2026 Earnings Highlights and Topics

    Second Quarter of FY2026 Earnings Highlights and Topics President CEO Norio Nakajima

  3. Slide 3: Earnings Highlights for Q2 FY2026 (1/2)

    Earnings Highlights for Q2 FY2026 (1/2) Financial Results of First Half of FY2026 Revenue 1.0908 trillion yen • First-half revenue reached a record high, increasing 20.8% year on year and 14.2% on a constant currency basis. • Revenue increased across a wide range of applications, including data cent

  4. Slide 4: Earnings Highlights for Q2 FY2026 (2/2)

    Earnings Highlights for Q2 FY2026 (2/2) Projected Financial Results for FY2026 (October) Revenue 2.26 trillion yen • Revenue is projected to reach a record high, with the forecast revised upward by 7.1%, or 150 billion yen, from the July projection. • Revenue is expected to increase across a wide ra

  5. Slide 5: Future Production Capacity Expansion for Multilayer Ceramic Capacitors

    Topics of This Earnings Release Conference Future Production Capacity Expansion for Multilayer Ceramic Capacitors 5

  6. Slide 6: Business Opportunities and Essential Technologies

    Business Opportunities from Core Fields Driven by AI Evolution LLM AGI ASI AI Evolution （Large Language Models） AI Agents （Artificial General Intelligence ） （Artificial Superintelligence） Business Opportunities and Essential Technologies Edge Devices Smart Glasses Smart Rings 6G Bioelectronics High-

  7. Slide 7: Growth of the Capacitor Business and Expansion of the Global Production Base

    Growth of the Capacitor Business and Expansion of the Global Production Base Invest Approx. 1 trillion yen over Five Years (FY2026–FY2030), with MLCC Sales Expected to more than double Compared with FY2025 MLCC Building Investments: Completed Projects Since FY2020 and Future Plans MLCC Sales Growth

  8. Slide 8: Investment Execution and Capital Allocation

    Investment Execution and Capital Allocation Overview of This Investment ・The investment will ramp up in FY2028 and beyond ・Investment will be funded, in principle, through operating cash flows, with external financing used as needed to meet temporary funding requirements. ・Capital Allocation under M

  9. Slide 9: Second Quarter of FY2026 Financial Results Summary and Business Overview

    Second Quarter of FY2026 Financial Results Summary and Business Overview From April 1, 2026 to September 30, 2026 Consolidated Basis

  10. Slide 10: Financial Results Overview

    Financial Results Overview 1st Half of FY2026 (YoY) • Both revenue and operating profit reached record highs in the second quarter and the first half. • Revenue increased overall, as growth mainly in the component business across a wide range of applications, including data centers and mobility, tog

  11. Slide 11: Quarterly Revenue, Order and Backlog

    Quarterly Revenue, Order and Backlog • Total orders for the Company reached a record high, driven by increased demand mainly for data center-related and communication applications, despite a decline in the valuation of foreign- currency-denominated backlogs due to the yen's appreciation. • Given the

  12. Slide 12: Revenue by Operating Segments

    Revenue by Operating Segments FY2025 FY2026 Y on Y Change Q on Q Change 1st Half 1st Quarter 2nd Quarter 1st Half (B JPY) (%) (B JPY) (B JPY) (B JPY) (%) (B JPY) (%) (B JPY) (%) Capacitors 454.9 50.4 282.5 323.1 605.6 55.5 +150.7 +33.1 +40.6 +14.4 Inductors and EMI filters 110.7 12.3 64.3 70.7 134.9

  13. Slide 13: Overview by Segment – Components

    Overview by Segment – Components [FY2026 1st Half vs FY25 1st Half] YoY Revenue Operating profit ↑+29.7% ↑+62.1% 〇MLCCs： Capacitors (B JPY) Revenue +３３.１% Revenue increased for servers, distributors, 745.1 and mobility. Revenue Revenue 574,2 Inductors and 〇Inductors： EMI filters 〇EMI Suppression Fil

  14. Slide 14: Overview by Segment – Devices and Modules

    Overview by Segment – Devices and Modules [FY26 1st Half vs FY25 1st Half] YoY Revenue Operating profit High-Frequency ▲High-frequency modules： ↑＋3.4% ↓ ー ■■ Device and Decreased for smartphones and PCs. (B JPY) Communications Module ▲Multilayer resin substrates, SAW Revenue （２．１％） Filters： Decrease

  15. Slide 15: Revenue by Application

    Revenue by Application FY2025 FY2026 Y on Y Change Q on Q Change 1st Half 1st Quarter 2nd Quarter 1st Half (B JPY) (%) (B JPY) (B JPY) (B JPY) (%) (B JPY) (%) (B JPY) (%) Communication 328.5 36.4 156.4 190.4 346.8 31.8 +18.3 +5.6 +34.0 +21.7 Mobility 234.5 26.0 131.6 137.2 268.8 24.6 +34.2 +14.6 +5.

  16. Slide 16: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY25 1st Half to FY26 1st Half] (B JPY) JPY/US$: 146.04 YEN (FY25 1H) → 159.37 YEN(FY26 1H) Sensitivity: 4.5 BJPY per 1 JPY/US$ change per year. FY26 1H Operating 270.0 Production output: 909.0 BJPY (FY25 1H) → 1108.0 BJPY (FY26 1H) profit *The production outpu

  17. Slide 17: Current Inventory Situation

    Current Inventory Situation • Inventories as of the end of September 2026 decreased 4.9 billion yen from the end of the previous quarter. Excluding the impact of yen appreciation at the end of the quarter, there was an increase of 1.5 billion yen. 17

  18. Slide 18: Cash Flows

    Cash Flows FY2025 FY2026 Y on Y Change 1st Half 1st Half (B JPY) (B JPY) (B JPY) Cash flows from operating activities 167.7 215.5 +47.7 Cash flows from investing activities (65.5) (112.5) (47.1) Cash flows from financing activities (138.6) (146.7) (8.1) Effect of exchange rate changes (6.5) (9.4) (2

  19. Slide 19: Projected Financial Results for FY2026

    Projected Financial Results for FY2026 From April 2026 to March 2027

  20. Slide 20: Projections of Demand

    Projections of Demand Smartphones ：Unit sales are expected to decrease by 80 million units year on year, mainly in mid-range and low- end models, while the impact on high-end models is expected to be limited. Vehicles ：The forecast was revised upward by approximately 1.04 million units, mainly for I

  21. Slide 21: Projected Financial Results for FY2026

    Projected Financial Results for FY2026 • Full-year revenue and operating profit are projected to reach record highs. • Revenue is projected to exceed the July forecast, mainly due to increased demand for data-center-related components, particularly for AI servers. • Operating profit is projected to

  22. Slide 22: Recognition of Business Environment

    Recognition of Business Environment Premises of projected financial results as of July Premises of projected financial results as of October • Demand for data-center-related components is expected to • Demand for data-center-related components be higher than previously forecast. remains strong. • De

  23. Slide 23: Projected Revenue by Operating Segments

    Projected Revenue by Operating Segments FY2026 FY2026 Change Change Projections Projections Projections (July) vs (July) 1st Half 2nd Half (October) 1st Half vs 2nd Half (October) Projections (October) (B JPY) (B JPY) (B JPY) (B JPY) (B JPY) (%) (B JPY) (%) Capacitors 1,157.5 605.6 670.6 1,276.2 +11

  24. Slide 24: Projected Revenue by Operating Segments

    Projected Revenue by Operating Segments [FY2026 Full-Year Projection (July) vs FY2026 Full-Year Projection (October)] ○ Multilayer ceramic capacitor（MLCC） Capacitors Revenue is expected to increase in multilayer ceramic capacitors, ＋１０．３％ driven by strong demand for components for data center applic

  25. Slide 25: Projected Revenue by Application

    Projected Revenue by Application FY2026 FY2026 Change Change Projections Projections Projections (July) vs (July) 1st Half 2nd Half (October) 1st Half vs 2nd Half (October) Projections (October) (B JPY) (B JPY) (B JPY) (B JPY) (B JPY) (%) (B JPY) (%) Communication 664.0 346.8 327.3 674.1 +10.1 +1.5

  26. Slide 26: Projected Revenue by Application

    Projected Revenue by Application [FY2026 Full-Year Projection (July) vs FY2026 Full-Year Projection (October)] Communications ○ Revenue is expected to increase in capacitors for ＋１．5％ smartphone and base station applications. Mobility ○ Revenue is expected to increase in capacitors and EMI filters ＋

  27. Slide 27: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY2026 Full-Year Projection (July) vs FY2026 Full-Year Projection (October)] JPY/US$: 156.12 YEN (FY26 projection July 2026) → 157.19 YEN(FY26 projection October 2026) (B JPY) Sensitivity: 4.5 B JPY per 1 JPY/US$ change per year. FY2026 Production output: 2,130

  28. Slide 28: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY2026 1st Half Results vs FY2026 2nd Half Projection (October)] JPY/US$: 159.37YEN (FY26 1H) → 157.19 YEN(FY26 2H projection October 2026) (B JPY) Sensitivity: 4.5 B JPY per 1 JPY/US$ change per year. 350.0 Production output: 1,108.0 B JPY (FY26 1H) → 1,170.0B

  29. Slide 29: Premises of Projected Financial Results

    Premises of Projected Financial Results FY2026 1st Half FY2026 2nd Half FY2026 Results Projections Projections Depreciation and amortization 91.6 B JPY 94.4 B JPY 186.0 B JPY R & D expenses 88.1 B JPY 89.9 B JPY 178.0 B JPY Capital expenditures 86.5 B JPY 183.5 B JPY 270.0 B JPY Average exchange rat

  30. Slide 30: Quarterly Financial Results

    Quarterly Financial Results (B JPY) Operating profit Profit before tax Profit attributable to owners of parent Revenue (B JPY) 160.0 700.0 Operating profit･Profit before tax･Profit attributable Revenue 140.0 588.5 595.2 574.0 600.0 120.0 502.3 486.6 500.0 467.5 460.6 100.0 416.2 400.0 80.0 300.0 60.

  31. Slide 31: Investor Relations Announcement

    Investor Relations Announcement Announcement of the Release of Announcement of Murata value report 2026 （Integrated Report） Murata IR Day 2026 – Business Briefing Date and Time： Monday, November 30, 2026, 2:00–3:30 p.m. (JST) Release Date of English Version：October 28, 2026 Event Format: Online (via

  32. Slide 32: Forward-looking statements notice

    This report contains forward-looking statements concerning Murata Manufacturing Co., Ltd. and its group companies' projections, plans, policies, strategies, schedules, and decisions. These forward looking statements are not historical facts; rather, they represent the assumptions of the Murata Group

  33. Slide 33: Thank you

    INNOVATOR IN ELECTRONICS Thank you (© Murata Manufacturing Co.,Ltd, Allright reserved

  34. Slide 34: Appendix

    INNOVATOR IN ELECTRONICS Appendix (© Murata Manufacturing Co.,Ltd, Allright reserved

  35. Slide 35: Consolidated Statement of Financial Position

    Consolidated Statement of Financial Position (B JPY) Change from Change from Mar.2026 Sep.2026 Mar.2026 Sep.2026 Mar.2026 Mar.2026 Cash and cash Bonds and 653.7 600.6 (53.1) 3.3 2.6 (0.6) equivalents borrowings Trade receivables 328.2 392.3 +64.1 Trade payables 79.8 82.9 +3.1 Other current liabiliti

  36. Slide 36: Revenue by Operating Segments [FY26 1st Half vs FY25 1st Half]

    Revenue by Operating Segments [FY26 1st Half vs FY25 1st Half] Capacitors ○ Multilayer ceramic capacitor（MLCC）: ＋３３．１％ Increased for data centers, distributors, and mobility. ○ Inductors： Inductors and Increased for data centers, distributors, and mobility. EMI filters ＋２１．８％ ○ EMI suppression filte

  37. Slide 37: Revenue by Operating Segments [FY26 1st Quarter vs FY26 2nd Quarter]

    Revenue by Operating Segments [FY26 1st Quarter vs FY26 2nd Quarter] Capacitors ○ Multilayer ceramic capacitor（MLCC）: ＋１４．４％ Increased for data centers, distributors, and smartphones. ○ Inductors： Inductors and Increased for mobility and PCs. EMI filters ○ EMI suppression filters： ＋１０．０％ Increased f

  38. Slide 38: Revenue by Application [FY26 1st Half vs FY25 1st Half]

    Revenue by Application [FY26 1st Half vs FY25 1st Half] Communication ＋５．６％ ○ Revenue of capacitors increased for smartphones and base stations. Mobility ○ Revenue of capacitors, EMI filters, and inductors increased for automotive ＋１４．６％ applications. Computers ○ Revenue of capacitors, power modules

  39. Slide 39: Revenue by Application [FY26 1st Quarter vs FY26 2nd Quarter]

    Revenue by Application [FY26 1st Quarter vs FY26 2nd Quarter] Communication ○ Revenue of multilayer resin substrates, high-frequency modules, and ＋２１．７％ capacitors increased for smartphones. Mobility ○ Revenue of capacitors, EMI filters, and inductors increased for automotive ＋４．３％ applications. Com

  40. Slide 40: Revenue by Application and Main Applications

    Revenue by Application and Main Applications • Data center-related revenue is included in revenue for computers. Revenue by Application Main Applications Smartphone Communication Wearable Appliance Base Station Automobile Mobility Motorcycle PCs (including Tablet PCs), Computer Peripherals Data Cent

  41. Slide 41: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY26 1st Quarter vs FY26 2nd Quarter] (B JPY) JPY/US$: 159.49YEN (FY26 Q1)→ 159.25 YEN (FY26 Q2) Sensitivity:4.5 B JPY per 1 JPY/US$ change per year. 180.0 Production output: 519.0 B JPY (FY26 Q1) → 589.0 B JPY (FY26 Q2) *The production output incorporates the

  42. Slide 42: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY26 1st Half Projection (July) to FY26 1st Half Results] (B JPY) JPY/US$: 157.25 YEN (FY26 1H Projection July 2026) → 159.37 YEN(FY26 1H) Sensitivity: 4.5 B JPY per 1 JPY/US$ change per year. Production output: 1,051.0 B JPY (FY26 1H Projection July 2026) FY26

  43. Slide 43: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY25 Results to FY26 Projection (October)] FY26 (B JPY) JPY/US$: 150.78 YEN (FY25) → 157.19YEN(FY26 projection October 2026) Operating Sensitivity: 4.5 B JPY per 1 JPY/US$ change per year. profit Production output: 1,845.0 B JPY (FY25) → 2,278.0B JPY (FY26 proj

  44. Slide 44: Breakdown of Operating Profit Changes

    Breakdown of Operating Profit Changes [FY26 2nd Half Projection (July) to FY26 2nd Half Projection (October)] FY26 2H (B JPY) Operating JPY/US$: 155.00 YEN (FY26 2H projection July 2026) → 155.00YEN (FY26 2H profit 300.0 projection October 2026) (Projection Sensitivity: 4.5 B JPY per 1 JPY/US$ chang

  45. Slide 45: Return to Shareholders

    Return to Shareholders Total DOE payout (B JPY) ratio Annual dividends Stock Repurchase 300.0 Total payout ratio Dividend on equity(DOE) 10% 100% 100% 9% 90% 90% 150.0 250.0 8% 80% 80% 69.8% 7% 70% 70% 200.0 100.0 6% 60% 60% 150.0 80.0 80.0 4.5% 4.5% 5% 50% 50% 4% 40% 40% 100.0 3% 30% 30% 118.6 126.

  46. Slide 46: Quarterly Financial Data_Financial Results

    Quarterly Financial Data_Financial Results (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q 2Q Revenue 416.2 486.6 467.5 460.6 502.3 588.5 Operating profit 61.6 103.5 37.9 78.8 98.5 147.5 Profit before tax 62.3 112.5 49.5 84.4 109.2 139.2 Profit attributable to owners of parent 49.7 82.7 25.0 76.6 81.4 104.8 Ca

  47. Slide 47: Quarterly Financial Data _Revenue

    Quarterly Financial Data _Revenue (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q 2Q Capacitors 217.3 237.6 239.1 242.4 282.5 323.1 Inductors and EMI filters 52.5 58.3 56.4 56.2 64.3 70.7 Revenue by Operating segments Components 269.8 295.8 295.5 298.6 346.8 393.7 High-Frequency Device and 82.1 120.6 102.2 89.

  48. Slide 48: Quarterly Financial Data _ Segment Information

    Quarterly Financial Data _ Segment Information (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q 2Q Revenue 269.8 295.8 295.5 298.6 346.8 393.7 Components Operating profit 71.2 86.5 76.4 81.1 113.6 142.0 Operating profit rate 26.0% 28.8% 25.5% 26.9% 32.5% 35.9% Revenue 142.6 187.1 168.2 158.0 151.4 189.4 Devices

  49. Slide 49: Innovator in Electronics

    INNOVATOR IN ELECTRONICS

Murata Manufacturing — Q2 FY2026 Earnings Presentation on 6ix