Moderator: It is time to commence the financial results briefing for Q1 of FY2023 of Murata Manufacturing Co., Ltd.
Thank you very much for taking time out of your busy schedule to join us today.
First, I would like to introduce today's speakers. Norio Nakajima, President, Representative Director.
Nakashima: Thank you.
Moderator: Masanori Minamide, Executive Vice President (Board Member), General Manager, Corporate Unit.
Minamide: Thank you.
Moderator: Nagato Omori, Executive Vice President, General Manager, Ceramic Capacitor Business Unit.
Omori: Thank you.
Moderator: In addition, IR members are also present.
Today's briefing will begin with an explanation of our financial results, followed by a question-and-answer session at around 15:40.
The materials are available in the IR Library of Investor Relations on our website. The Company also discloses the presentation materials in a timely manner, which can be viewed on the TSE's timely disclosure service.
Page numbers of the presentation materials will be specified during the presentation of the financial results, so please refer to them if you are joining us by phone.
Now, Minamide will give you an overview of the financial results.
Minamide: I will now explain the financial results. Thank you very much for your continued support and cooperation in our IR activities. I would like to take this opportunity to express our sincere gratitude.
p. 2
Please see page two. This is the topic for Q1.
Compared to the same period last year, revenue were down 15.8% and operating profit was down 44.8%.
Revenue declined because not only did revenue of capacitors decrease in a broad range of applications, mainly for computers and base stations, but sales of connectivity modules and RF modules also fell for smartphones. In terms of profits, a productivity loss and declines in product selling prices were the main profit decreasing factors.
The yen has weakened more than expected against the latest sales forecast. Although the results were slightly higher than expected due to the impact of weaker yen, the actual demand for parts is slightly lower than expected, and therefore, we have left the full-year forecast for FY2023 unchanged from the announced figures, including the dividend.
p. 3
Please see page three. As I have previously announced, we have voluntarily adopted the International Financial Reporting Standards (IFRS) from 2023. Accordingly, the results for FY2022 shown in this document have been reclassified from US GAAP to IFRS.
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Murata Manufacturing Co. Ltd. published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 07 August 2023 07:18:08 UTC.
Murata Manufacturing Co., Ltd. is one of the world leaders in design, production and marketing of innovative electronic components for the telecommunications and automobile sectors, etc. Net sales break down by family of products as follows:
- electronic components (74.4%): capacitors, piezoelectric components, etc.;
- modules (22.4%);
- other (3.2%).
Sales break down geographically as follows: Japan (9.2%), China (54.8%), Asia (15.6%), America (11.4%) and Europe (9%).
MURATA MANUFACTURING CO., LTD 
