Murata Revenues Up 13.6%; Capacitor Sales Up 14.4% in June Quarter; Predicts Strong September

Murata Manufacturing Limited, the world’s largest capacitor manufacturer, recorded revenues of 154 billion yen in the June 2010 quarter. This represents a quarter-to-quarter growth rate of 13.6% compared to the March 2010 quarter, which recorded 135 billion yen in revenues for the company. Capacitor sales (Mostly MLCC), grew 14.4% in the quarter to 55 billion yen. Sales in Murata’s capacitor group were up 44% compared to the June quarter of 2009. Murata reported that sales of capacitors were up in every market segment the company serves compared to last year, and that there was increased demand for high capacitance MLCC in the June quarter. However, the company noted that sales of application specific capacitors declined in the quarter do to price erosion in the computer industry- even though sales volumes increased. Murata reported a 21% increase in sequential sales from the communications segment in the June quarter, as well as an 17% increase in demand from the computer segment, and a 9% increase in demand from the audio/video segment. Demand from the home appliance segment showed a 5% increase in revenue for the quarter, and sales to the automotive segment showed only a 2% sequential increase (however, sales to the automotive segment are up 55% compared to the same quarter in 2009). With respect to individual product lines driving capacitor demand in the June quarter, Murata noted increased quarter-to-quarter sales to the flat panel television set market, the personal computer market and the handset market as driving demand.

In terms of the outlook for the September 2010 quarter, Murata predicted that capacitor revenues will grow 10% overall to about 60 billion yen (Reference 1). This growth rate will be twice that of the other divisions of the Murata business so overall company revenue growth for the quarter is forecasted to be 5%. Murata anticipates large orders from the consumer audio and video imaging segment and the wireless handset business in the September quarter, as well as increased growth in the computer business. The company expects quarter-to-quarter sales in the automotive segment and the home appliance segment to remain unchanged. Component sales are expected to increase by 10% to consumer audio and video imaging segment in the September quarter, a 7% increase in the wireless handset business, and a 5% increase in sales to the computer segment in the September 2010 quarter.

Additional Resources: Conductive Polymer Capacitors: World Markets: Technologies & Opportunities: 2010-2015 ISBN # 1-893-211-88-6 (2010).
(2) Ceramic Capacitors: World Markets, Technologies & Opportunities: 2009-2014 ISBN # 1-893211-25-8 (December 2009)