Murata Manufacturing Co (MRAAF) has released an update.
Murata Manufacturing Co., Ltd. reported financial results for the full year ending March 31, 2024, with revenues slightly exceeding forecasts due to strong MLCC sales and a weaker yen, while profits significantly underperformed due to a downturn in the cylindrical lithium-ion battery segment. Investments for future production increases could not offset the impact of a demand slump and inventory adjustments post-COVID, leading to a substantial impairment loss.
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