Murata Manufacturing Co. Ltd. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2013 and parent company earnings results for the year ended March 31, 2013. For the year, on consolidated basis, net sales were JPY 681,021 million against JPY 584,662 million a year ago. Operating income was JPY 58,636 million against JPY 44,973 million a year ago. Income before income taxes was JPY 59,534 million against JPY 50,931 million a year ago. The primary factors for the profit increase were the increase in capacity utilization, comprehensive cost reductions and the yen depreciation while there were negative factors from price declines and increased fixed costs by expanding the production capacity and cost of acquired business. Net income was JPY 42,386 million or JPY 200.81 per basic share against JPY 30,807 million or JPY 144.35 per basic share a year ago. Return on equity was 5.1% against 3.8% a year ago. Net cash provided by operating activities was JPY 88,537 million against JPY 57,589 million a year ago. Cash outflows from capital expenditures were JPY 77,662 million compared to JPY 68,445 million for the same period a year ago. For the quarter, on consolidated basis, net sales were JPY 174,148 million against JPY 140,084 million a year ago. Operating income was JPY 14,210 million against JPY 2,778 million a year ago. Income before income taxes was JPY 13,457 million against JPY 3,982 million a year ago. Net income was JPY 10,981 million against net loss of JPY 620 million a year ago. For the year, on parent company basis, net sales were JPY 535,155 million against JPY 495,744 million a year ago. Operating income was JPY 10,344 million against JPY 3,212 million a year ago. Income before income taxes was JPY 31,195 million against JPY 17,921 million a year ago. Net income was JPY 30,601 million or JPY 144.98 per basic share against JPY 17,155 million or JPY 80.39 per basic share a year ago. Return on equity was 7.8% against 4.3% a year ago. Capital expenditures were JPY 14,284 million compared to JPY 13,357 million for the same period a year ago. The company provided earnings and dividend guidance for the six months ending September 30, 2013 and for the year ending March 31, 2014. For the six months ending September 30, 2013, the company expects to pay cash dividend per share of JPY 60.00 compared to JPY 50.00 paid for the same period a year ago. For the year ending March 31, 2014, the company expects to pay cash dividend per share of JPY 60.00 compared to JPY 50.00 paid for the same period a year ago. For the six months ending September 30, 2013, the company expects net sales of JPY 380,000 million, operating income of JPY 48,000 million, income before income taxes of JPY 50,000 million and net income of JPY 33,000 million or JPY 156.34 per basic share. Capital expenditure is expected to be JPY 46,000 million and depreciation and amortization to be JPY 37,000 million. For the year ending March 31, 2014, the company expects net sales of JPY 780,000 million, operating income of JPY 100,000 million, income before income taxes of JPY 105,000 million and net income of JPY 70,000 million or JPY 331.63 per basic share. Depreciation and amortization is expected to be JPY 79,000 million. The company is planning JPY 77,000 million of capital expenditures for the year ending March 31, 2014 mainly in use for investments in boosting production capacity for new products and high-growth products, in streamlining production processes, and in research and development.

Murata Manufacturing Co. Ltd., 2013 Earnings Call, Apr 30, 2013

Murata Manufacturing Co. Ltd. announced that they will report fiscal year 2013 results on Apr 30, 2013