Murata Manufacturing Co., Ltd. Business Report FY ended Mar. 2013

Business Highlights

Financial Overview

(in millions of JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 Rate of
Change (%)
Main factor
Sales 681,021 584,662 16.5 -Sales increased 16.5% year-on-year to 681,021 million yen, the highest recorded sales volume for the Company. This resulted from the added sales generated by the power-amp business, which it acquired from Renesas Electronics, and by sales generated by VTI Technologies Oy (currently Murata Electronics Oy). Favorable currency translation also played a factor in the rise in sales.
Operating income 58,636 44,973 30.4 -Operating income significantly increased 30.4% year-on-year to 58,636 million yen. This was due to profit achieved from a high-level operating rate, cost-cutting initiatives, and currency rates that were heading toward a lower yen valuation. However, performance was partly impacted by higher fixed costs incurred with making corporate acquisitions and by falling product selling prices.
Net income 42,386 30,807 37.6 -
Automotive Electronics
Sales 102,000 85,400 19.4

-Sales of laminated ceramic capacitors, onboard Bluetooth modules, and power supplies increased tremendously.

-Sales of MEMS sensors of VTI Technologies, which the Company acquired, also contributed to higher business performance.

Launched sales of MEMS sensors produced by the former VTI Technologies

- The Company announced that it will put onto the market accelerometers, gyroscopes and inclinometers for automatic engine stop-start systems, which are manufactured by Murata Electronics Oy (formerly VTI Technologies), its subsidiary in Finland. Accelerometers are high accuracy versions of the SCA8X0 and SCA21X0 sensor series, and capable of detecting the vehicle's running and standing positions. Also, they can be used with the Anti-lock Brake System (ABS) or as a standalone system. Inclinometers can make a high precision measurement of vehicle inclination by an electronically controlled driving system. They are used for making high-precision measurements to maintain the vehicle position by using the brakes when the engine is restarted. The internal mechanical damping inside the Company's sensors contributes to improving accuracy by preventing pickup of external signals that can cause errors to the inclination measurement. SCC1300 series gyro-combo sensors can be used not only for the automatic stop-start system in combination with accelerometers, but also for the Electronic Stability Control system. (From an article in the Nikkan Jidosha Shimbun on Jun. 15, 2012) 


-The Company received  "Supplier of the Year Award" of 2012 from Lear Corporation. The Company supplies passive electronics components to Lear. (From a press release on February 27, 2013)


- The Company announced that its U.S.-based subsidiary, Murata Electronics North America, Inc. (MEA), has closed the deal to acquire RF Monolithics, Inc. (RFM). RFM, based in Texas, the U.S., develops and sells wireless applications for medical, in-vehicle and industrial equipment, and for the energy-related market as well as high-frequency devices based on SAW technology. (From a press release on July 3, 2012)

Outlook for FY ending Mar. 31, 2014

(in millions of JPY)
  FY ended Mar. 31, 2014
FY ended Mar. 31, 2013
(Actual Results)
Rate of Change
Sales 780,000 681,000 14.5
Operating income 100,000 58,600 70.6
Net income 70,000 42,400 65.1
* Sales for Automotive electronics is forecasted +10% Y on Y.

>>>Financial Forecast for the Next Fiscal Year (Sales, Operating Income, etc.)


R&D Expenditure

(in millions of JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Components 21,100 19,915  19,856
Modules 12,379 8,984  8,507
Others 4 47  21
Headquarters 15,283 12,032  11,394
Overall 48,766 40,978  39,778


Products Development

Metal terminal monolithic ceramic capacitors
- The Company announced that it has started to mass-produce two new metal terminal monolithic ceramic capacitors that achieve high ripple-current resistance and high effective capacitance: the KC3 series for automotive use; and the KR3 series for general applications. The KC3 series capacitors, which comply with the automotive electronic components standard known as AEC-Q200, are suitable for use in engines, engine control units, drivetrain control systems, and safety devices. Commercial production of these capacitors has been carried out at Izumo Murata Manufacturing Co., Ltd. in Shimane Prefecture since September 2012. (From an article in the Nikkan Jidosha Shimbun on Nov. 22, 2012)      

Monolithic ceramic capacitor with a resin external electrode
- The Company announced that it has developed and started to mass-produce a monolithic ceramic capacitor with a resin external electrode designed to withstand automotive applications up to 150 degrees Celsius. It is the world's first capacitor with a resin external electrode that features X8L attributes. The X8L characteristics provide a capacitance variation of +15/-40 percent in the temperature range between -55 degrees Celsius and +150 degrees Celsius. This capacitor is available in a 3225 package and has a capacitance value of 10μF (rated voltage: 25V), providing the industry's greatest capacitance value among 3225 size products. The technology is suitable for ECUs, transmission control units and sensors that operate in high temperature environment and require a fail-safe function. (From an article in the Nikkan Jidosha Shimbun on Oct. 17, 2012)

Monolithic ceramic capacitors withstanding 150 decrees Celsius
- The Company announced that it has started to mass-produce its 1005 and 1608 size chip monolithic ceramic capacitors with X8R characteristics that can withstand temperature as high as 150 degrees Celsius. The new compact capacitors for automobiles achieve the industry' largest capacity among products of similar sizes. Production has been conducted at Izumo Murata Manufacturing in Shimane Prefecture since July 2012. As use of electric components in vehicles increases, electronic parts are more often placed near the engine and transmission, which requires capacitors with a high level of heat resistance. An increase in use of electronic parts also requires mounting space for each component to be reduced. By using a new material, the Company developed new capacitors with X8R characteristics to achieve high heat resistance. The Company's new capacitors also have Ag/Pd external electrodes, which can be mounted with conductive adhesive, resulting in eliminating solder cracks from temperature changes. (From an article in the Nikkan Jidosha Shimbun on Sep. 13, 2012)

Chip monolithic capacitors with small size and large capacitance
- The Company has reduced the size and increased the capacity of its GCM series of chip monolithic capacitors for automotive applications. By developing new materials, the Company reduced the size from the 3225 size (3.2mm x 2.5mm) mainly used thus far to the 3216 size (3.2mm x 1.6mm), while at the same time expanding the capacitance from 2.2µF to 4.7µF (rated voltage 50 V type) and from 4.7µF to 10µF (rated voltage 25 V type). Aluminum electrolytic capacitors and tantalum capacitors have been used in automotive power supply circuits thus far, but these can now be replaced with GCM series products. These components are manufactured by Izumo Murata Manufacturing Co., Ltd. in Shimane Prefecture. The rated voltage 25 V type has been mass-produced since April 2012, and mass-production of the rated voltage 50 V type began in May 2012. (From a press release on June 28, 2012)

Investment Activities

Capital Expenditure

(in millions of JPY)
  FY ended Mar. 31, 2013 FY ended Mar. 31, 2012 FY ended Mar. 31, 2011
Overall 77,662 68,445 56,752

-The Company invested 55,770 million yen mainly to increase, upgrade, and rationalize its and its subsidiaries' production facilities and equipment; 7,337 million yen to upgrade and increase R&D facilities; and 5,135 million yen to acquire land and buildings.

-Capital expenditure for FY ending Mar. 31, 2014 is foreseen to be 77,000 million yen.

Planned Capital Investments

(As of Mar. 31, 2013)
Location Targets of investments Planned
amount of investment
(million yen)
From To
Kanazawa Murata Manufacturing Co., Ltd.
Ishikawa Pref.
Facilities for manufacturing components 10,000 Apr. 2013 Mar. 2014
Fukui Murata Manufacturing Co., Ltd. Fukui Pref.
Facilities for manufacturing components 9,000 Apr. 2013 Mar. 2014
Okayama Murata Manufacturing Co., Ltd. Okayama Pref.
Facilities for manufacturing components and modules 7,000 Apr. 2013 Mar. 2014
Izumo Murata
Shimane Pref.
Facilities for manufacturing components 6,000 Apr. 2013 Mar. 2014
Wuxi Murata Electronics Co.,Ltd. Wuxi
Facilities for manufacturing components 6,000 Apr. 2013 Mar. 2014