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Murata Manufacturing (6981) investor relations material
Murata Manufacturing Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for the first half of FY2025 reached 902.8 billion yen, up 2.2% year-on-year, driven by strong demand in AI servers, data centers, automotive, and capacitors for servers and distributors, offsetting declines in high-frequency modules for smartphones; excluding FX effects, revenue rose 5.5%.
Operating profit increased 4.4% year-on-year to 165.1 billion yen, with a 13.8% rise excluding FX effects, supported by higher capacity utilization, cost reductions, and higher operation rates.
Profit attributable to owners of parent rose 1.6% year-on-year to 132.4 billion yen.
Comprehensive income surged 59.7% year-on-year to 148.6 billion yen, reflecting improved other comprehensive income, especially from exchange differences.
The full-year forecast was revised upward, with revenue projected at 1,740.0 billion yen and operating profit at 280.0 billion yen, reflecting yen depreciation and robust demand.
Financial highlights
First half operating profit margin improved to 18.3% from 17.9% year-on-year.
Gross profit for the period was 380.9 billion yen, with a gross margin of 42.2%.
Basic earnings per share increased to 71.77 yen from 69.45 year-on-year.
Free cash flow for the first half was 102.3 billion yen, down 16.5 billion yen year-on-year due to a smaller reduction in inventories.
Cash and cash equivalents at period end were 582.4 billion yen, up 10.7 billion yen from the previous year.
Outlook and guidance
Full-year revenue and profit guidance raised due to easing recession concerns, yen depreciation, and robust demand for electronic components in AI servers, mobility, and smartphones; a reactionary decline in the second half is expected after front-loaded demand in smartphones.
FY2025 revenue projected at 1,740.0 billion yen and operating profit at 280.0 billion yen.
Annual dividend planned at 60 yen per share, up from 57 yen in FY2024.
Assumed exchange rate for the second half is 145 yen per US dollar.
Profit attributable to owners of parent for the full year forecast at 220.0 billion yen.
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