MurataMurata Manufacturing Co., Ltd.6981東証プライム電気機器FY ending Mar 2025, consolidated, IFRS

Murata revenue and profit

Out of every ¥100 of sales, about ¥16 is left as operating profit. Revenue changed +6.3% from the prior year.

Five-year trend

Revenue¥1.74T
FY ending Mar 2021: ¥1.63T¥1.63TFY ending Mar 2022: ¥1.81T¥1.81TFY ending Mar 2023: ¥1.69T¥1.69TFY ending Mar 2024: ¥1.64T¥1.64TFY ending Mar 2025: ¥1.74T¥1.74TFY21FY22FY23FY24FY25
Operating income¥279.7B
FY ending Mar 2023: ¥298.2B¥298.2BFY ending Mar 2025: ¥279.7B¥279.7BFY21FY22FY23FY24FY25
Operating margin16.0%
FY ending Mar 2023: 17.7%17.7%FY ending Mar 2025: 16.0%16.0%FY21FY22FY23FY24FY25

What drives ROE

Net margin × asset turnover = ROA; ROA × financial leverage = ROE

Net margin13.4%
Asset turnover0.57×
ROA7.7%
ROA7.7%
Financial leverage1.18×
ROE9.1%

Denominators: average assets and ending equity. Derived from reported values; ROE is shown only for positive profit and equity.

Net margin13.4%
2022: 17.3%17.3%2023: 14.5%14.5%2024: 11.0%11.0%2025: 13.4%13.4%2122232425
Asset turnover0.57×
2022: 0.69×0.69×2023: 0.60×0.60×2024: 0.56×0.56×2025: 0.57×0.57×2122232425
ROA7.7%
2021: 9.6%9.6%2022: 11.9%11.9%2023: 8.6%8.6%2024: 6.1%6.1%2025: 7.7%7.7%2122232425
Financial leverage1.18×
2022: 1.18×1.18×2023: 1.23×1.23×2024: 1.20×1.20×2025: 1.18×1.18×2122232425
ROE9.1%
2022: 14.0%14.0%2023: 10.6%10.6%2024: 7.4%7.4%2025: 9.1%9.1%2122232425
PeriodNet marginAsset turnoverROAFinancial leverageROE
2021——×9.6%—×—
202217.3%0.69×11.9%1.18×14.0%
202314.5%0.60×8.6%1.23×10.6%
202411.0%0.56×6.1%1.20×7.4%
202513.4%0.57×7.7%1.18×9.1%

Financial leverage can raise ROE; a higher value alone does not describe a company's overall condition.

Asset intensity and goodwill

Annual trends in tangible-asset ratios and goodwill balance.

PPE ÷ revenue67.9%
2022: 59.8%59.8%2023: 68.0%68.0%2025: 67.9%67.9%22232425
PPE ÷ total assets39.1%
2022: 38.7%38.7%2023: 40.1%40.1%2025: 39.1%39.1%22232425
Goodwill ÷ parent equity5.3%
2022: 5.1%5.1%2023: 5.2%5.2%2025: 5.3%5.3%22232425
Goodwill balance¥135.7B
2022: ¥114.7B¥114.7B2023: ¥123.2B¥123.2B2025: ¥135.7B¥135.7B22232425

Ratios are derived from reported values. Goodwill is shown only when separately reported; it is not inferred from combined intangible assets. Definition

Investment and working-capital efficiency

Track R&D investment and how long operating capital remains tied up before sales turn into cash.

R&D spending¥149.3B
2022: ¥111.3B¥111.3B2023: ¥124.7B¥124.7B2025: ¥149.3B¥149.3B22232425
R&D / revenue8.6%
2022: 6.1%6.1%2023: 7.4%7.4%2025: 8.6%8.6%22232425

R&D is shown only for years with machine-readable disclosure. Days are estimates using year-end receivables, inventory and payables divided by annual revenue or cost of sales; financial companies are excluded.

Income statement (JPY millions)

ItemFY ending Mar 2021FY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025
Revenue1,630,1931,812,5211,686,7961,640,1581,743,352
Cost of revenue——1,013,262—1,025,650
Gross profit——673,534—717,702
SG&A——255,837—277,681
Operating income——298,231—279,702
Pretax income316,417432,702302,683239,404304,404
Income tax——59,035—71,431
Net income attributable to owners237,057314,124243,946180,838233,818
Operating margin——17.7%—16.0%

Balance sheet (reported items)

Year-end figures from filings. Unreported items are omitted. Interest-bearing debt excludes lease liabilities.

Assets

Cash 21%
Property, plant and equipment 39%
4%
Other assets 36%

Funding

Other liabilities 15%
Equity 85%

Each bar totals 100% of assets; other is the residual.

ItemFY ending Mar 2021FY ending Mar 2022FY ending Mar 2023FY ending Mar 2024FY ending Mar 2025
Cash and equivalents¥407.7B¥512.1B¥469.4B¥622B¥625.1B
Total assets¥2.46T¥2.8T¥2.86T¥3.04T¥3.03T
Net assets—¥2.24T¥2.36T¥2.56T¥2.58T
Share capital—¥69.4B¥69.4B—¥69.4B
Property, plant and equipment—¥1.08T¥1.15T—¥1.18T
Goodwill—¥114.7B¥123.2B—¥135.7B
Current assets—¥1.44T¥1.41T—¥1.5T
Total liabilities—¥564.1B¥498.4B—¥448.2B
Equity attributable to owners of parent—¥2.24T¥2.36T—¥2.58T
Retained earnings—¥2.1T¥2.25T—¥2.4T
Treasury stock—-¥53.5B-¥133.5B—-¥135.2B

Sources

Show source documents (6)
  • EDINET (FSA Japan)

    有価証券報告書-第90期(2025/04/01-2026/03/31)

    ID S100YHPY2026-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第89期(2024/04/01-2025/03/31)

    ID S100W2ZR2025-06-24Open
  • EDINET (FSA Japan)

    有価証券報告書-第88期(2023/04/01-2024/03/31)

    ID S100TSIJ2024-06-27Open
  • EDINET (FSA Japan)

    有価証券報告書-第87期(2022/04/01-2023/03/31)

    ID S100R7732023-06-29Open
  • EDINET (FSA Japan)

    訂正有価証券報告書-第86期(令和3年4月1日-令和4年3月31日)

    ID S100P5NP2022-09-09Open
  • EDINET (FSA Japan)

    有価証券報告書-第85期(令和2年4月1日-令和3年3月31日)

    ID S100LPV92021-06-29Open

Extracted from XBRL: 44 / Derived from other figures: 1

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