Murata Manufacturing Co (MRAAF) has released an update.
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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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