Murata Manufacturing corrects Q2 results, revises full-year forecasts upward

Murata Manufacturing announced on November 5, 2025, a correction to its previously released financial results briefing material for the second quarter of the fiscal year ending March 2026. The correction impacts pages P18 and P34 of the "financial results briefing material for the second quarter of the fiscal year ending March 2026." On P18, the ROIC basis for FY2025 projected financial results has been updated from "pre-tax basis" to "post-tax basis." For P34, the breakdown of operating profit changes from Q1 to Q2 FY2025 has been revised, with the price decline estimate changing from ▲3.0bn yen to ▲12.0bn yen, and other factors adjusted from +2.6bn yen to +11.6bn yen.

This correction comes after the company significantly upgraded its full-year financial forecasts for FY2025. The revised revenue forecast now stands at 1,740.0bn yen, an increase of 100.0bn yen from the April forecast, driven by strong demand in communication and computer sectors and the yen's depreciation. Operating profit is projected to reach 280.0bn yen, a substantial 60.0bn yen increase from the earlier projection, primarily due to higher production output and the yen's weakness.

The company anticipates continued robust demand for components, especially for AI data centers, and an upward trend in xEV ratio and high-performance components. Inventories decreased in Q2 due to seasonality and front-loaded demand, with Murata planning to maintain high operation rates to build up inventory for future demand. The assumed exchange rate for the second half of FY2025 is 145.00 yen/USD, contributing to the revised outlook.