Murata Manufacturing Co., Ltd.TSE: 6981

Second Quarter of FY2026

· Issued by Murata Manufacturing Co., Ltd.

Summary by 6ix AI

Murata Manufacturing Co., Ltd., an electronic parts maker, reported revenue of 1,090,764 million yen for the six months ended September 30, 2026, up 20.8% year on year. It says capacitor revenue rose, mainly for data centers, as did EMI (electromagnetic interference) filters for data centers and mobility and power supply modules for data centers, partly helped by a weaker yen.

Key details

  • For the six months ended September 30, 2026, operating profit was 245,907 million yen, up 48.9%, and profit attributable to owners of parent was 186,152 million yen, up 40.6%. Basic earnings per share (profit per share) were 102.43 yen, compared with 71.77 yen a year earlier.
  • Murata says profits rose on a higher operation rate from increased production output and a weaker yen. It says this was despite higher fixed costs and lower product selling prices.
  • Capacitor revenue rose 33.1% to 605,583 million yen. Revenue from high-frequency devices and communications modules fell 2.1% to 198,474 million yen, as revenue of multilayer resin substrates decreased for smartphones and revenue of high-frequency modules decreased for smartphones and PCs.
  • The second-quarter dividend is 35.00 yen per share, with payments scheduled to begin November 30, 2026.
  • Murata revised its forecast during the period. For the year ending March 31, 2027, it now expects revenue of 2,260,000 million yen, operating profit of 520,000 million yen, profit attributable to owners of parent of 396,000 million yen and basic earnings per share of 218.80 yen.

What’s still pending

  • The full-year forecast is based on estimates using currently available information, and actual results may differ.
  • The year-end dividend for the year ending March 31, 2027 is a forecast of 35.00 yen per share, for a forecast annual total of 70.00 yen.
  • These semi-annual results are exempt from review by certified public accountants or an audit firm.

6ix AI wrote this summary from the release below and checked it against the release.

Date: October 30, 2026

Consolidated Financial Results

for the Six Months Ended September 30, 2026 (Under IFRS)

Company Name : Murata Manufacturing Co., Ltd. Stock Exchange Listings:

Listing Code : 6981 Tokyo Stock Exchange (URL https://corporate.murata.com/en-global/)

Phone : 81-75-955-6525

Scheduled date to commence dividend payments : November 30, 2026

(Amounts are rounded to the nearest million yen)

  1. Consolidated financial results for the six months ended September 30, 2026

    1. Operating results (Percentage represents year-on-year changes.)

      Revenue

      Operating profit

      Profit before tax

      Profit attributable to

      owners of parent

      Comprehensive income

      Six months ended

      Millions of yen

      %

      Millions of yen

      %

      Millions of yen

      %

      Millions of yen

      %

      Millions of yen

      %

      September 30, 2026

      1,090,764

      20.8

      245,907

      48.9

      248,415

      42.1

      186,152

      40.6

      179,598

      20.8

      September 30, 2025

      902,778

      2.2

      165,136

      4.4

      174,782

      6.6

      132,379

      1.6

      148,614

      59.7

      Basic earnings

      per share

      Diluted earnings

      per share

      Six months ended

      Yen

      Yen

      September 30, 2026

      102.43

      102.40

      September 30, 2025

      71.77

      71.77

    2. Financial position

    Total assets

    Total equity

    Equity attributable to owners of parent

    Ratio of equity

    attributable to owners of parent

    Equity attributable to owners of parent

    per share

    As of

    Millions of yen

    Millions of yen

    Millions of yen

    %

    Yen

    September 30, 2026

    3,249,248

    2,758,083

    2,759,139

    84.9

    1,524.46

    March 31, 2026

    3,199,099

    2,717,810

    2,718,743

    85.0

    1,493.58

  2. Cash dividends

    Annual dividends per share

    First quarter

    Second quarter

    Third quarter

    Year-end

    Total

    Yen

    Yen

    Yen

    Yen

    Yen

    Year ended March 31, 2026

    -

    30.00

    -

    35.00

    65.00

    Year ending March 31, 2027

    -

    35.00

    Year ending

    March 31, 2027 (Forecast)

    -

    35.00

    70.00

    * Revisions to the forecast of cash dividends most recently announced: None

  3. Forecast of consolidated financial results for the year ending March 31, 2027

    (Percentage represents year-on-year changes.)

    Revenue

    Operating profit

    Profit before tax

    Profit attributable to

    owners of parent

    Basic earnings

    per share

    Year ending March 31, 2027

    Millions of yen

    2,260,000

    %

    23.4

    Millions of yen

    520,000

    %

    84.5

    Millions of yen

    532,000

    %

    72.4

    Millions of yen

    396,000

    %

    69.3

    Yen

    218.80

    • Percentage represents year-on-year changes.

    • Forecast of financial results has been revised during the six months ended September 30, 2026.

    • The number of shares issued that forms the basis for the calculation of basic earnings per share is calculated with the number of issued shares (excluding treasury shares) as of September 30, 2026.

  4. Notes

  1. Changes in significant subsidiaries during the period (changes in specific subsidiaries that caused change in scope of consolidation): None

  2. Changes in accounting policies and changes in accounting estimates

    1. Changes in accounting policies required by IFRS: None

    2. Changes in accounting policies due to other reasons: None

    3. Changes in accounting estimates: None

  3. Number of issued shares

    1. Total number of shares at the end of the period (including treasury shares)

      As of September 30, 2026

      1,963,001,843 shares

      As of March 31, 2026

      1,963,001,843 shares

    2. Number of treasury shares at the end of the period

      As of September 30, 2026

      153,092,489 shares

      As of March 31, 2026

      142,709,692 shares

    3. Average number of shares during the period

Six months ended September 30, 2026

1,816,638,676 shares

Six months ended September 30, 2025

1,843,825,318 shares

*Semi-annual financial results reports are exempt from review conducted by certified public accountants or an audit firm.

*Notes to the forecast of financial results

The above forecasts were prepared based on estimates using information currently available.

Actual results may differ from the forecast. For assumptions and other information regarding the forecast, refer to “Business Results and Financial Position”.

Business Results and Financial Position (from April 1, 2026 through September 30, 2026)

1. Business Results

During the period, despite downside risks to the economy including rising prices of raw materials and energy due to the prolongation of the situation in the Middle East and growing inflationary pressures, the global economic environment remained generally solid on the back of expanding AI-related demand.

In the electronics market, where Murata Manufacturing Co., Ltd., and its subsidiaries (hereinafter, the “Companies”) operate, demand for parts remained firm, supported by increased investment in data centers as well as the advancement of AD/ADAS and the rising share of xEVs in the automotive market.

Under these circumstances, during the period, revenue from capacitors increased across a wide range of applications, mainly data centers, and revenue from EMI filters for data centers and mobility as well as power supply modules for data centers increased. As a result, revenue increased by 20.8% year on year to

1,090,764 million yen, partly due to the impact of foreign currency fluctuations (depreciation of the yen by 13.33 yen year on year).

Looking at profits, operating profit was 245,907 million yen, up 48.9% year on year; profit before tax was 248,415 million yen, up 42.1% year on year; and profit attributable to owners of parent came to 186,152 million yen, up 40.6% year on year. This was due to profit-increasing factors such as gains from a higher operation rate resulting from an increase in production output and the impact of a weaker yen, despite profit-decreasing factors such as an increase in fixed costs and a fall in product selling prices.

Millions of yen

Six months ended September 30, 2025

Six months ended September 30, 2026

Change

Revenue

902,778

%*

100.0

1,090,764

%*

100.0

187,986

%

20.8

Operating profit

165,136

18.3

245,907

22.5

80,771

48.9

Profit before tax

174,782

19.4

248,415

22.8

73,633

42.1

Profit attributable to owners of parent

132,379

14.7

186,152

17.1

53,773

40.6

Average exchange rate (Yen/U.S. dollar)

146.04

-

159.37

-

13.33

-

*Component ratio as a percentage of revenue

Revenue by Operating Segments

Revenue by Operating Segments during the period was as follows:

Millions of yen

Six months ended September 30, 2025

Six months ended September 30, 2026

Change

%*

%*

%

Capacitors

454,902

50.4

605,583

55.5

150,681

33.1

Inductors and EMI Filters

110,746

12.3

134,926

12.4

24,180

21.8

Components

565,648

62.7

740,509

67.9

174,861

30.9

High-Frequency Device and Communications Module

202,681

22.4

198,474

18.2

(4,207)

(2.1)

Battery and Power supply

74,896

8.3

78,685

7.2

3,789

5.1

Functional Device

52,188

5.8

63,702

5.8

11,514

22.1

Devices and Modules

329,765

36.5

340,861

31.2

11,096

3.4

Others

7,365

0.8

9,394

0.9

2,029

27.5

Revenue

902,778

100.0

1,090,764

100.0

187,986

20.8

*Component ratio as a percentage of revenue

Revenue of Components during the period increased by 30.9% year on year to 740,509 million yen.

〔Capacitors〕

The Capacitors category includes MLCCs.

During the period, revenue of MLCCs increased across a wide range of applications, mainly for data centers, distributors and mobility.

As a result, overall revenue increased by 33.1% year on year to 605,583 million yen.

〔Inductors and EMI filters〕

The Inductors and EMI filters category includes inductors and EMI suppression filters.

During the period, revenue of EMI suppression filters and inductors increased for mobility and data centers.

As a result, overall revenue increased by 21.8% year on year to 134,926 million yen.

Revenue of Devices and Modules during the period increased by 3.4% year on year to 340,861 million yen.

〔High-Frequency Device and Communications Module〕

The High-Frequency Device and Communications Module category includes multilayer resin substrates, high-frequency modules, connectivity modules, and SAW filters.

During the period, revenue of multilayer resin substrates decreased for smartphones, and revenue of high-frequency modules decreased for smartphones and PCs.

As a result, overall revenue decreased by 2.1% year on year to 198,474 million yen.

〔Battery and Power supply〕

The Battery and Power supply category includes lithium-ion secondary batteries and power supply modules.

During the period, revenue of lithium-ion secondary batteries increased for data centers but decreased for power tools. Revenue also decreased due in part to the transfer of the micro primary battery business. In contrast, revenue of power supply modules increased for data centers.

As a result, overall revenue increased by 5.1% year on year to 78,685 million yen.

〔Functional Device〕

The Functional Device category includes sensors and timing devices (resonators).

During the period, revenue of sensors increased for mobility and smartphones. In addition, revenue of actuators increased for computers.

As a result, overall revenue increased by 22.1% year on year to 63,702 million yen.

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