Financial & ESG Information

Regarding net sales for the period under review, whereas sales of multilayer resin substrates increased for smartphones, and lithium-ion secondary batteries increased for power tools in addition to currency fluctuations (the yen depreciated by 23.10 yen year on year), sales of MLCCs decreased for computers and smartphones, and SAW filters and high-frequency modules declined for smartphones. As a result, net sales for the period under review decreased by 6.9% year-on-year to 1,687 billion yen.
Looking at profits, operating income was 298 billion yen, down 29.8% year on year, income before taxes came to 315 billion yen, down 27.2% year on year, and net income attributable to Murata Corporation posted 254 billion yen, down 19.2% year on year. This was due to a decrease in the operation rate and an increase in fixed costs, despite profit-increasing factors such as a weaker yen and cost reduction.

Total assets at March 31, 2023, increased by 64 billion yen from the end of the previous fiscal year to 2,873 billion yen due to an increase in inventories, despite a decrease in trade accounts receivable and cash. Liabilities decreased 75 billion yen to 470 billion yen from the end of the previous fiscal year due to a decrease in accrued income taxes payable and trade accounts payable. Equity increased by 139 billion yen from the end of the previous fiscal year to 2,402 billion yen, mainly due to an increase in retained earnings. The ratio of shareholders’ equity to total assets increased by 3.0 points from the end of the previous fiscal year to 83.6% at March 31, 2023.
For the period under review, ROIC (pre-tax basis) decreased 8.0 points year on year to 14.6% due to a significant fall in operating income while invested capital such as inventories and fixed assets increased.