Murata Manufacturing Co., Ltd. · TSE:6981
Murata Manufacturing — Q1 FY2026 Earnings Presentation
40 slides from Murata Manufacturing's earnings presentation, Jul 31, 2026
Slide 1: Earnings Release Conference First Quarter of FY2026
Earnings Release Conference First Quarter of FY2026 (April 1, 2026 to June 30, 2026) July 31, 2026 Murata Manufacturing Co., Ltd.
Slide 2: Earnings Highlights for Q1 FY2026 (1/2)
Earnings Highlights for Q1 FY2026 (1/2) Financial Results of First Quarter of FY2026 Revenue 502.3 billion yen • Revenue reached an all-time high in the first quarter. Revenue increased 20.7% year-on-year and was up 12.6% on a constant currency basis. • Although revenue from lithium-ion secondary ba
Slide 3: Earnings Highlights for Q1 FY2026 (2/2)
Earnings Highlights for Q1 FY2026 (2/2) Projected Financial Results for FY2026 (July) Revenue 2.11 trillion yen • Revenue is expected to reach a record high, up 4.8% on a constant currency basis, and the full-year revenue forecast has been revised upward by 7.7% (+150.0 billion yen) from the April f
Slide 4: First Quarter of FY2026 Financial Results Summary and Business Overview
First Quarter of FY2026 Financial Results Summary and Business Overview From April 1, 2026 to June 30, 2026 Consolidated Basis
Slide 5: Financial Results Overview
Financial Results Overview FY2026 1st Quarter(YoY) • Revenue increased overall, as growth in components across a wide range of applications, mainly data centers and mobility, together with the positive impact of the weaker yen, more than offset the decrease in lithium-ion secondary batteries due to
Slide 6: Quarterly Financial Results
Quarterly Financial Results (B JPY) Operating profit Profit before tax Profit attributable to owners of parent Revenue (B JPY) 120.0 600.0 Revenue Operating profit･Profit before tax･Profit attributable 100.0 500.0 80.0 400.0 60.0 300.0 40.0 200.0 20.0 100.0 0.0 0.0 FY24 FY25 FY26 1Q 2Q 3Q 4Q 1Q 2Q 3
Slide 7: Quarterly Revenue, Order and Backlog
Quarterly Revenue, Order and Backlog • Quarterly orders reached a record high in the first quarter. With data center-related demand remaining strong and orders increasing across a wide range of applications, total orders increased both year on year and quarter on quarter. • Given both the increase i
Slide 8: Revenue by Operating Segments
Revenue by Operating Segments FY2025 FY2025 FY2026 Y on Y Change Q on Q Change 1st Quarter 4th Quarter 1st Quarter (B JPY) (%) (B JPY) (%) (B JPY) (%) (B JPY) (%) (B JPY) (%) Capacitors 217.3 52.2 242.4 52.6 282.5 56.2 +65.2 +30.0 +40.1 +16.5 Inductors and EMI filters 52.5 12.6 56.2 12.2 64.3 12.8 +
Slide 9: Overview by Segment – Components
Overview by Segment – Components [FY26 1st Quarter vs FY25 1st Quarter] YoY Revenue Operating profit ↑＋27.5% ↑＋59.5％ ○ Multilayer ceramic capacitor (MLCC） (B JPY) Capacitors Revenue increased, driven mainly by Revenue 349.3 ＋３０．０％ demand from data center and mobility applications Revenue Revenue ○ E
Slide 10: Overview by Segment – Devices and modules
Overview by Segment – Devices and modules [FY26 1st Quarter vs FY25 1st Quarter] YoY Revenue Operating profit High-Frequency ▲ High-frequency modules： ↑ ＋6.2% ↓ー Device and Decreased for smartphones and PCs (B JPY) Revenue Communications Revenue 151.4 Module 〇 Multilayer resin substrates： 142.6 ＋５．０
Slide 11: Revenue by Application
Revenue by Application FY2025 FY2025 FY2026 Y on Y Change Q on Q Change 1st Quarter 4th Quarter 1st Quarter (B JPY) (%) (B JPY) (%) (B JPY) (%) (B JPY) (%) (B JPY) (%) Communication 137.6 33.1 152.7 33.2 156.4 31.1 +18.9 +13.7 +3.7 +2.4 Mobility 113.3 27.2 118.1 25.6 131.6 26.2 +18.2 +16.1 +13.4 +11
Slide 12: Breakdown of Operating Profit Changes
Breakdown of Operating Profit Changes [FY25 1st Quarter to FY26 1st Quarter] (B JPY) FY26 1Q JPY/US$: 144.60 YEN (FY25 1Q) → 159.49 YEN(FY26 1Q) Operating profit 98.5 Sensitivity: 4.5 BJPY per 1 JPY/US$ change per year. Production output: 427.0 BJPY (FY25 1Q) → 519.0 BJPY (FY26 1Q) 90.0 *The product
Slide 13: Current Inventory Situation
Current Inventory Situation • Inventories as of the end of June 2026 increased 18.5 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 13.4 billion yen. Capacitor inventories decreased slightly, reflecting st
Slide 14: Cash Flows
Cash Flows FY2025 FY2026 Y on Y Change 1st Quarter 1st Quarter (B JPY) (B JPY) (B JPY) Cash flows from operating activities 40.0 42.2 +2.2 Cash flows from investing activities (33.6) (75.1) (41.5) Cash flows from financing activities (96.0) (67.6) +28.5 Effect of exchange rate changes (16.0) 4.2 +20
Slide 15: Projected Financial Results for FY2026
Projected Financial Results for FY2026 From April 2026 to March 2027
Slide 16: Projections of Demand
Projections of Demand • Smartphones：Reflecting supply constraints for memory semiconductors, mid- and low-end models, mainly for IDHs, are expected to decrease by 50 million units year on year. The impact on high-end models was limited. • Vehicles ：Although the share of xEVs is expected to rise, pro
Slide 17: Projected Financial Results for FY2026
Projected Financial Results for FY2026 • The full-year projections for both revenue and profits reached record highs. ＊The assumed exchange rate has been revised to 155 yen /USD from the second quarter of FY2026. • Revenue is projected to exceed the April forecast, mainly due to stronger demand for
Slide 18: Premises of projected financial results
Premises of projected financial results Opportunities and Risks not factored into Assumptions for projected financial results projected financial results • Significant growth in demand for data-center- • Significant growth in demand for data-center-related components, related components but with a m
Slide 19: Projected Revenue by Operating Segments
Projected Revenue by Operating Segments FY2026 FY2025 Projections YonY Change Actual 1st Half 2nd Half (July) (B JPY) (B JPY) (B JPY) (B JPY) (B JPY) (%) Capacitors 936.4 569.6 587.9 1,157.5 +221.1 +23.6 Inductors and EMI filters 223.3 128.9 125.9 254.8 +31.5 +14.1 Components 1,159.7 698.5 713.8 1,4
Slide 20: Projected Revenue by Operating segments [FY2025 to FY2026]
Projected Revenue by Operating segments [FY2025 to FY2026] ○ Multilayer ceramic capacitor（MLCC） Capacitors Revenue is expected to increase in multilayer ceramic capacitors, ＋２３．６％ driven by strong demand for components for data center applications. ○ EMI suppression filters Inductors and EMI filters
Slide 21: Projected Sales by Operating segment
Projected Sales by Operating segment FY2026 FY2025 Projections YonY Change Actual 1st Half 2nd Half (July) (B JPY) (B JPY) (B JPY) (B JPY) (B JPY) (%) Communication 653.0 337.3 326.6 664.0 +11.0 +1.7 Mobility 474.5 259.5 255.7 515.2 +40.7 +8.6 Computers 310.4 222.5 279.5 502.0 +191.6 +61.7 Revenue b
Slide 22: Projected Revenue by Application [FY2025 to FY2026]
Projected Revenue by Application [FY2025 to FY2026] Communications ○ Revenue is expected to increase in capacitors for automotive ＋１．７％ applications. Mobility ○ Revenue is expected to increase in capacitors and sensors ＋８．６％ for automotive applications. Computers ○ Revenue is expected to increase in
Slide 23: Breakdown of Operating Profit Changes
Breakdown of Operating Profit Changes [FY2026 Full-Year Projection (April) vs FY2026 Full-Year Projection (July)] FY2026 Operating profit (B JPY) (Projection FY2026 July 2026) Operating profit JPY/US$: 150.00YEN (FY26 projection April 2026) → 155.00YEN(FY26 430.0 (Projection projection July 2026) Ap
Slide 24: Breakdown of Operating Profit Changes
Breakdown of Operating Profit Changes [FY2025 Results vs FY2026 Full-Year projection (July)] FY2026 Operating (B JPY) profit JPY/US$:150.78 YEN (FY25) → 155.00 YEN (FY26 projection July 2026) (Projection July 2026) 450.0 Sensitivity:4.5 BJPY per 1 JPY/US$ change per year. 430.0 Production output:1,8
Slide 25: Projected Financial Results
Projected Financial Results FY2025 FY2026 Result Projections Depreciation and amortization 178.2 B JPY 182.0 B JPY R & D expenses 158.9 B JPY 174.0 B JPY Capital expenditures 247.8 B JPY 255.0 B JPY Average exchange rate 150.78 JPY/USD 156.12 JPY/USD 25
Slide 26: Quarterly Financial Results
Quarterly Financial Results (B JPY) Operating profit Profit before tax Profit attributable to owners of parent Revenue (B JPY) 120.0 600.0 Operating profit･Profit before tax･Profit attributable 537.7 Revenue 529.0 541.0 502.3 486.6 100.0 500.0 467.5 460.6 411.9 416.2 80.0 400.0 60.0 300.0 40.0 200.0
Slide 27: Forward-looking statements
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 Grou
Slide 28: Thank you
INNOVATOR IN ELECTRONICS Thank you (© Murata Manufacturing Co.,Ltd, Allright reserved
Slide 29: Appendixes
INNOVATOR IN ELECTRONICS Appendixes (© Murata Manufacturing Co.,Ltd, Allright reserved
Slide 30: Consolidated Statement of Financial Position
Consolidated Statement of Financial Position Change from Change from Mar.2026 Jun.2026 Mar.2026 Jun.2026 Jun.2026 Jun.2026 Cash and cash Bonds and 653.7 557.5 (96.2) 3.3 2.6 (0.6) equivalents borrowings Trade receivables 328.2 348.2 +20.0 Trade payables 79.8 80.7 +0.9 Other current liabilities･ Inve
Slide 31: Revenue by Operating segments [FY26 1st Quarter vs FY25 4th Quarter]
Revenue by Operating segments [FY26 1st Quarter vs FY25 4th Quarter] Capacitors ○ MLCCs： ＋１６．５％ Revenue increased mainly in data center, mobility, and distributor channels. ○ EMI suppression filters： Inductors and Revenue increased, mainly for mobility and data center applications. EMI filters ＋１４．３
Slide 32: Revenue by Application [FY26 1st Quarter vs FY25 1st Quarter]
Revenue by Application [FY26 1st Quarter vs FY25 1st Quarter] ▲ Revenue decreased in high-frequency modules for smartphones Communication applications. ＋１３．７％ ○ Revenue increased for capacitors and multilayer resin substrates for smartphone applications. Mobility ○ Revenue increased in capacitors, E
Slide 33: Revenue by Application [FY26 1st Quarter vs FY25 4th Quarter]
Revenue by Application [FY26 1st Quarter vs FY25 4th Quarter] ▲ Revenue of multilayer resin substrates decreased for smartphones. Communication ＋２．４％ ○ Revenue increased in capacitors for smartphone and base station applications. Mobility ○ Revenue increased in capacitors, EMI suppression filters an
Slide 34: Revenue by Application and Main Applications
Revenue by Application and Main Applications • Date Center-related revenue is included mainly in revenue for computers. Revenue by Application Main Applications Smartphone Communication Wearable Appliance Base Station Automobile Mobility Motor Cycle PCs（including Tablet PCs）、Computers Peripherals Da
Slide 35: Breakdown of Operating Profit Changes
Breakdown of Operating Profit Changes [FY2025 Q4 vs FY2026 Q1] FY2026 Q1 Operating profit (B JPY) 98.5 JPY/US$: 156.87YEN (FY25 Q4)→ 159.49YEN (FY26 Q1) FY2025 Q4 Sensitivity:4.5 BJPY per 1 JPY/US$ change per year. Operating profit Production output: 477.0 BJPY (FY25 Q4) → 519.0 BJPY (FY26 Q1) 80.0
Slide 36: 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% 81.8% 250.0 8% 80% 80% 150.0 70% 7% 70% 200.0 100.0 60% 6% 60% 150.0 4.5% 4.6% 50% 5% 50% 80.0 80.0 40% 4% 40% 100.0 30% 3% 30% 118.6 126.
Slide 37: Quarterly Financial Data_Financial Results
Quarterly Financial Data_Financial Results (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q Revenue 416.2 486.6 467.5 460.6 502.3 Operating profit 61.6 103.5 37.9 78.8 98.5 Profit before tax 62.3 112.5 49.5 84.4 109.2 Profit attributable to owners of parent 49.7 82.7 25.0 76.6 81.4 Capital expenditures 34.7 40.
Slide 38: Quarterly Financial Data_Revenue
Quarterly Financial Data _Revenue (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q Capacitors 217.3 237.6 239.1 242.4 282.5 Inductors and EMI filters 52.5 58.3 56.4 56.2 64.3 Revenue by Operating segments Components 269.8 295.8 295.5 298.6 346.8 High-Frequency Device and Communications Module 82.1 120.6 102.2 8
Slide 39: Quarterly Financial Data _ Segment Information
Quarterly Financial Data _ Segment Information (B JPY) FY2025 FY2026 1Q 2Q 3Q 4Q 1Q Revenue 274.0 300.2 300.0 301.0 349.3 Components Operating profit 71.2 86.5 76.4 81.1 113.6 Operating profit rate 26.0% 28.8% 25.5% 26.9% 32.5% Revenue 142.6 187.1 168.2 158.0 151.4 Devices and Operating profit (8.0)
Slide 40: Innovator in Electronics
INNOVATOR IN ELECTRONICS
Murata Manufacturing — Q1 FY2026 Earnings Presentation on 6ix