{"slug":"murata","name":"Murata","name_en":"Murata Manufacturing","ticker":"6981.T","updated_at":"2026-07-12T04:18:58.915+00:00","canonical":"https://valuechain.wiki/murata","same_as":["https://finance.yahoo.com/quote/6981.T"],"citable":"밸류체인 그래프 기준 Murata의 직접 연결 기업은 3곳(관계 기준 공급 0·매출 3)이고, 사슬을 2차까지 넓히면 38곳에 닿는다. 링크의 근거 출처는 6건이며 그중 1차공시가 2건이다 (valuechain.wiki, 2026-07-12 기준).","citable_en":"Per the valuechain.wiki graph, Murata Manufacturing is directly linked to 3 companies (0 supply, 3 revenue relationships) and reaches 38 companies within two hops; the links are backed by 6 dated sources, 2 of them primary filings (as of 2026-07-12).","kicker":"MLCC(적층세라믹콘덴서) 세계 1위","kicker_en":"World No.1 in MLCC (multilayer ceramic capacitors)","lead":"세계 MLCC 시장 점유율 약 40%로 1위이며 AI 서버용 고사양 MLCC에서는 약 45%다. FY2025 매출은 1조8,309억엔으로 사상 최고, 영업이익은 2,818억엔이다. 서버 수요로 콘덴서 매출이 12.6% 늘며 실적을 이끌었다. AI 서버 한 대는 일반 서버보다 MLCC를 훨씬 많이 써 수요가 급증했고, 삼성전기와 경쟁한다. 애플 등 스마트폰과 데이터센터에 공급한다.","lead_en":"The world's No.1 MLCC maker with about 40% global share, and roughly 45% in high-end AI-server MLCC. FY2025 revenue reached a record 1,830.9 billion yen with operating profit of 281.8 billion yen. Capacitor revenue rose 12.6% on server demand and led results. AI servers use far more MLCCs than standard servers, driving demand, and Murata competes with Samsung Electro-Mechanics. It supplies smartphones such as Apple and data centers.","segments":{"fy":2025,"parts":[{"desc":"핵심 축 — 세계 1위(~40%). AI 서버(GB300 1대 ~3만개)·스마트폰·자동차용 MLCC. FY2025 콘덴서 +12.6%가 실적 견인.","name":"콘덴서(MLCC)","share":"매출 9,364억엔(+12.6%), 세계 1위 ~40%"},{"desc":"고주파·전원 부품 — 스마트폰·통신 수요에 연동하는 인덕터·EMI 필터.","name":"인덕터·EMI 필터"},{"desc":"SAW/RF 모듈·전지 등 — 통신 생태계와 기기 수요에 노출.","name":"통신·모듈·전지"}],"total":"FY2025 매출 1조8,309억엔(사상 최고), 영업이익 2,818억엔","concentration":"데이터센터·AI 서버·스마트폰·자동차. 삼성전기와 경쟁."},"segments_en":{"fy":2025,"parts":[{"desc":"The core axis — world No.1 (~40%). 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비중이 높아 원가 방어력이 크지만 삼성전기와의 점유 경쟁이 변수다. 관전 포인트는 AI 서버 MLCC 성장률(30% CAGR 상향)과 증설 소화다.","analysis_en":"Murata's thesis is 'the earnings leverage of an MLCC oligopoly lifted by AI servers.' As the world No.1 with ~40% MLCC share (~45% in high-end AI-server MLCC), an AI server uses far more MLCCs than a standard one (~30,000 per GB300), so FY2025 capacitor revenue +12.6% led record results (revenue JPY 1,830.9B). On the steady demand of smartphones (Apple and others) and automotive, data centers stack on as a new growth axis, and FY2026 capex of JPY 250B (an extra JPY 80B for datacenter MLCC) is that bet. Heavy in-house materials give strong cost defense, but the share contest with Samsung Electro-Mechanics is a variable. What to watch is AI-server MLCC growth (a raised 30% CAGR) and the absorption of new capacity.","analysis_asof":"2026-07-10"},"edges":[{"direction":"cost","counterparty":"MLCC 증설·설비 투자","counterparty_slug":null,"confidence":"high","metric":{"type":"amount","unit":"JPY_bn","basis":"설비투자(추가 MLCC +800억엔)","value":250,"period":"FY2026","basis_en":"capex, +80B additional MLCC"},"note":"데이터센터 수요 대응 MLCC 증설. FY2026 설비투자 2,500억엔, 데이터센터용 콘덴서에 약 800억엔 추가 투자(FY2026 약 400억엔 반영), FY2027 MLCC 추가 증설 예정.","note_en":"MLCC capacity expansion for data-center demand. FY2026 capex 250.0B yen, with about 80B additional investment for data-center capacitors (about 40B booked in FY2026), and further MLCC investment planned for FY2027.","sources":[{"stance":"confirms","publisher":"Investing.com","publisher_en":"Investing.com","kind":"news","lang":"en","published_at":"2026-05-01","url":"https://www.investing.com/news/company-news/murata-raises-mlcc-growth-forecast-for-ai-servers-to-30-cagr-93CH-4385436","title":"무라타, AI 서버용 MLCC 성장전망 30% CAGR로 상향","title_en":"Murata raises MLCC growth forecast for AI servers to 30% CAGR","excerpt":"AI 서버 수요 급증으로 무라타가 MLCC 증설 투자를 확대.","excerpt_en":"Surging AI-server demand is pushing Murata to expand MLCC capacity investment."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata Manufacturing","kind":"filing","lang":"en","published_at":"2026-04-30","url":"https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2026/0430b/25q4-e-speach.ashx?la=en&cvid=20260430024820000000","title":"FY2025 결산설명회 자료 (무라타 공식 IR)","title_en":"FY2025 Earnings Release Conference","excerpt":"설비투자 2,500억엔. \"capital expenditures increased to meet robust demand for capacitors used in data centers. (Includes approx. 40 billion out of approx. 80 billion in additional production investment.)\" \"additional investments in MLCCs will be made for FY2027.\"","excerpt_en":"Capital expenditures 250.0 billion yen. \"capital expenditures increased to meet robust demand for capacitors used in data centers. (Includes approx. 40 billion out of approx. 80 billion in additional production investment.)\" \"In response to growing data center demand, additional investments in MLCCs will be made for FY2027.\""}]},{"direction":"revenue","counterparty":"Apple","counterparty_slug":"apple","confidence":"high","metric":{"type":"share","unit":"%","basis":"세계 MLCC 점유율(1위)","value":40,"period":"2025","basis_en":"global MLCC share (No.1)"},"note":"애플 기기에 MLCC 공급. 무라타는 세계 MLCC 점유율 약 40%로 1위.","note_en":"Supplies MLCCs to Apple devices. Murata is the No.1 MLCC maker with about 40% global share.","sources":[{"stance":"confirms","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2026-05-26","url":"https://www.finance-scope.com/article/view/scp202605260005","title":"AI가 삼킨 MLCC…삼성전기·무라타 풀가동","title_en":"AI-driven MLCC demand, Samsung Electro-Mechanics and Murata at full utilization","excerpt":"무라타는 애플 등 스마트폰과 AI 서버에 고사양 MLCC를 공급하는 세계 1위(점유율 약 40%).","excerpt_en":"Murata is the world's No.1 MLCC supplier (about 40% share) to smartphones such as Apple and to AI servers."},{"stance":"confirms","publisher":"디일렉","publisher_en":"THELEC","kind":"news","lang":"ko","published_at":"2025-11-01","url":"https://www.thelec.kr/news/articleView.html?idxno=29456","title":"무라타 MLCC와 삼성전기 경쟁 구도","title_en":"Murata MLCC vs Samsung Electro-Mechanics","excerpt":"무라타 MLCC 수주잔고 상승.","excerpt_en":"Murata MLCC backlog rising."},{"stance":"confirms","publisher":"무라타 / EDINET","publisher_en":"Murata / EDINET","kind":"filing","lang":"ja","published_at":"2025-06-27","url":"https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100VZKQ.pdf","title":"무라타 유가증권보고서 (EDINET)","title_en":"Murata Annual Securities Report (EDINET)","excerpt":"유가증권보고서: 콘덴서(MLCC)가 주력 사업이며 스마트폰·차량·서버 등에 공급.","excerpt_en":"Annual Securities Report: capacitors (MLCC) are the core business, supplied to smartphones, vehicles and servers."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://corporate.murata.com/en-global/ir","title":"무라타 IR","title_en":"Murata Investor Relations","excerpt":"애플 기기에 MLCC 공급(세계 1위).","excerpt_en":"MLCCs to Apple devices (No.1)."}]},{"direction":"revenue","counterparty":"AI 서버·데이터센터 (MLCC)","counterparty_slug":null,"confidence":"high","metric":{"type":"growth","unit":"%","basis":"콘덴서 매출 YoY(서버 견인)","value":12.6,"period":"FY2025","basis_en":"capacitor revenue YoY, server-led"},"note":"데이터센터·AI 서버용 MLCC가 FY2025 콘덴서 매출 +12.6%를 견인. 애널리스트는 AI 서버 MLCC 성장을 30% CAGR로 상향(GB300 서버 1대당 약 3만개, 베이스보드당 1.5만→2만개).","note_en":"Data-center and AI-server MLCCs drove capacitor revenue +12.6% in FY2025. Analysts raised AI-server MLCC growth to 30% CAGR (about 30,000 MLCCs per GB300 server; 15k to 20k per baseboard).","sources":[{"stance":"confirms","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2026-05-26","url":"https://www.finance-scope.com/article/view/scp202605260005","title":"AI가 삼킨 MLCC…삼성전기·무라타 풀가동","title_en":"AI-driven MLCC demand, Samsung Electro-Mechanics and Murata at full utilization","excerpt":"AI 서버용 MLCC 시장에서 무라타와 삼성전기 합산 점유율 약 90%, 무라타 MLCC 영업이익률 30% 초과. 양사 풀가동.","excerpt_en":"In AI-server MLCC, Murata and Samsung Electro-Mechanics together hold about 90% share; Murata's MLCC operating margin exceeds 30%. Both run at full utilization."},{"stance":"confirms","publisher":"Investing.com","publisher_en":"Investing.com","kind":"news","lang":"en","published_at":"2026-05-01","url":"https://www.investing.com/news/company-news/murata-raises-mlcc-growth-forecast-for-ai-servers-to-30-cagr-93CH-4385436","title":"무라타, AI 서버용 MLCC 성장전망 30% CAGR로 상향","title_en":"Murata raises MLCC growth forecast for AI servers to 30% CAGR","excerpt":"무라타가 AI 서버용 MLCC 성장 전망을 30% CAGR로 상향. 엔비디아 GB300 서버 1대에 약 3만개 탑재(스마트폰의 약 30배).","excerpt_en":"Murata raised its AI-server MLCC growth forecast to 30% CAGR; an NVIDIA GB300 server uses about 30,000 MLCCs, roughly 30x a smartphone."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata Manufacturing","kind":"filing","lang":"en","published_at":"2026-04-30","url":"https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2026/0430b/25q4-e-speach.ashx?la=en&cvid=20260430024820000000","title":"FY2025 결산설명회 자료 (무라타 공식 IR)","title_en":"FY2025 Earnings Release Conference","excerpt":"\"매출 사상 최고. 서버 중심 광범위한 응용처의 콘덴서 매출이 증가하여 전체 매출 증가.\" FY2025 매출 1조8,309억엔, 영업이익 2,818억엔. 콘덴서 831.8→936.4억엔(+12.6%). \"MLCC Increased for servers, smartphones and distributors.\"","excerpt_en":"\"Revenue reached a record high. Revenue from capacitors across a wide range of applications, mainly servers, increased... resulting in overall revenue was increased.\" (FY2025 Revenue 1,830.9B yen; Operating profit 281.8B yen) Capacitors 831.8 to 936.4B yen (+12.6%). \"Multilayer ceramic capacitor (MLCC) Increased for servers, smartphones and distributors.\""}]},{"direction":"revenue","counterparty":"스마트폰 OEM (MLCC)","counterparty_slug":null,"confidence":"high","metric":null,"note":"고사양 스마트폰용 MLCC 공급. FY2025 MLCC가 서버·스마트폰·대리점향으로 증가, 차세대 하이엔드 스마트폰 점유율 확대.","note_en":"Supplies MLCCs for high-end smartphones. In FY2025 MLCCs increased for servers, smartphones and distributors, with share gains in next-generation high-end models.","sources":[{"stance":"confirms","publisher":"무라타","publisher_en":"Murata Manufacturing","kind":"filing","lang":"en","published_at":"2026-04-30","url":"https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2026/0430b/25q4-e-speach.ashx?la=en&cvid=20260430024820000000","title":"FY2025 결산설명회 자료 (무라타 공식 IR)","title_en":"FY2025 Earnings Release Conference","excerpt":"\"MLCC Increased for servers, smartphones and distributors.\" 과제1 평가: 차년도 하이엔드 스마트폰 점유율 확대.","excerpt_en":"\"Multilayer ceramic capacitor (MLCC) Increased for servers, smartphones and distributors.\" Challenge 1: gaining share in high-end smartphone models for the next fiscal year."},{"stance":"confirms","publisher":"디일렉","publisher_en":"THELEC","kind":"news","lang":"ko","published_at":"2025-11-01","url":"https://www.thelec.kr/news/articleView.html?idxno=29456","title":"무라타 MLCC와 삼성전기 경쟁 구도","title_en":"Murata MLCC vs Samsung Electro-Mechanics","excerpt":"무라타는 애플 등 하이엔드 스마트폰용 초소형 고용량 MLCC 공급에서 삼성전기와 경쟁.","excerpt_en":"Murata competes with Samsung Electro-Mechanics in ultra-small, high-capacity MLCCs for high-end smartphones such as Apple."}]},{"direction":"revenue","counterparty":"NVIDIA","counterparty_slug":"nvidia","confidence":"mid","metric":{"type":"count","unit":"MLCC/server","basis":"서버 1대당 탑재량","value":30000,"period":"GB300","basis_en":"per GB300 server"},"note":"엔비디아 AI 서버 보드에 MLCC 공급. GB300 서버 1대에 약 3만개 탑재(애널리스트 추정).","note_en":"Supplies MLCCs for NVIDIA AI-server boards; about 30,000 MLCCs per GB300 server (analyst estimate).","sources":[{"stance":"confirms","publisher":"Investing.com","publisher_en":"Investing.com","kind":"news","lang":"en","published_at":"2026-05-01","url":"https://www.investing.com/news/company-news/murata-raises-mlcc-growth-forecast-for-ai-servers-to-30-cagr-93CH-4385436","title":"무라타, AI 서버용 MLCC 성장전망 30% CAGR로 상향","title_en":"Murata raises MLCC growth forecast for AI servers to 30% CAGR","excerpt":"엔비디아 GB300 서버 1대에 약 3만개 MLCC 탑재. AI 서버 수요가 무라타 MLCC 성장 견인.","excerpt_en":"An NVIDIA GB300 server uses about 30,000 MLCCs; AI-server demand drives Murata's MLCC growth."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata Manufacturing","kind":"filing","lang":"en","published_at":"2026-04-30","url":"https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2026/0430b/25q4-e-speach.ashx?la=en&cvid=20260430024820000000","title":"FY2025 결산설명회 자료 (무라타 공식 IR)","title_en":"FY2025 Earnings Release Conference","excerpt":"과제3: AI 서버 전원용 수요 확보 — 하이퍼스케일러향 2차 모듈 수주 확보. FY2026 컴퓨터용 매출 +44.5% 전망(데이터센터 견인).","excerpt_en":"Challenge 3: acquiring demand for AI server power supplies; secured orders for secondary modules for hyperscalers. FY2026 Computers revenue expected +44.5%, driven by data centers."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://corporate.murata.com/en-global/ir","title":"무라타 IR","title_en":"Murata Investor Relations","excerpt":"AI 서버 보드에 MLCC 공급.","excerpt_en":"MLCCs for AI server boards."}]},{"direction":"revenue","counterparty":"자동차·산업 기기 (Mobility)","counterparty_slug":null,"confidence":"mid","metric":{"type":"share","unit":"%","basis":"차량급 MLCC 점유율","value":45,"period":"2025","basis_en":"automotive-grade MLCC share"},"note":"차량용 콘덴서·센서 공급. FY2025 모빌리티 매출 4,745억엔(+4.8%), 무라타는 차량급 MLCC 점유율 약 40~50%.","note_en":"Supplies automotive capacitors and sensors. FY2025 Mobility revenue 474.5B yen (+4.8%); Murata holds about 40-50% of automotive-grade MLCC.","sources":[{"stance":"confirms","publisher":"무라타","publisher_en":"Murata Manufacturing","kind":"filing","lang":"en","published_at":"2026-04-30","url":"https://corporate.murata.com/-/media/corporate/about/newsroom/news/irnews/irnews/2026/0430b/25q4-e-speach.ashx?la=en&cvid=20260430024820000000","title":"FY2025 결산설명회 자료 (무라타 공식 IR)","title_en":"FY2025 Earnings Release Conference","excerpt":"모빌리티 매출 452.8→474.5억엔(+4.8%). \"Revenue is expected to increase in capacitors and sensors for automotive applications.\"","excerpt_en":"Mobility revenue 452.8 to 474.5B yen (+4.8%). \"Revenue is expected to increase in capacitors and sensors for automotive applications.\""},{"stance":"confirms","publisher":"디일렉","publisher_en":"THELEC","kind":"news","lang":"ko","published_at":"2025-11-01","url":"https://www.thelec.kr/news/articleView.html?idxno=29456","title":"무라타 MLCC와 삼성전기 경쟁 구도","title_en":"Murata MLCC vs Samsung Electro-Mechanics","excerpt":"무라타는 차량급 MLCC에서 약 40~50% 점유율로 시장을 주도한다.","excerpt_en":"Murata leads automotive-grade MLCC with roughly 40-50% share."}]},{"direction":"revenue","counterparty":"Foxconn","counterparty_slug":"foxconn","confidence":"mid","metric":null,"note":"AI 서버·기기 조립(EMS)에 MLCC 공급.","note_en":"Supplies MLCCs into Foxconn's AI-server and device assembly (EMS).","sources":[{"stance":"confirms","publisher":"파이낸스스코프","publisher_en":"Finance Scope","kind":"news","lang":"ko","published_at":"2026-05-26","url":"https://www.finance-scope.com/article/view/scp202605260005","title":"AI가 삼킨 MLCC…삼성전기·무라타 풀가동","title_en":"AI-driven MLCC demand, Samsung Electro-Mechanics and Murata at full utilization","excerpt":"무라타 MLCC는 폭스콘 등 EMS의 AI 서버·기기 조립에 투입된다.","excerpt_en":"Murata MLCCs feed into AI-server and device assembly at EMS firms such as Foxconn."},{"stance":"confirms","publisher":"무라타","publisher_en":"Murata","kind":"ir","lang":"en","published_at":"2025-05-01","url":"https://corporate.murata.com/en-global/ir","title":"무라타 IR","title_en":"Murata Investor Relations","excerpt":"서버·기기 조립에 MLCC 공급.","excerpt_en":"MLCCs for server/device assembly."}]},{"direction":"cost","counterparty":"세라믹 원료·니켈 전극 소재","counterparty_slug":null,"confidence":"low","metric":{"qualifier":"confirmed_no_disclosed_value"},"note":"유전체 세라믹 분말(티탄산바륨)·니켈 내부전극·희토류 첨가제. 무라타는 소재 내재화 비중이 높아 구체 금액 비공개.","note_en":"Dielectric ceramic powder (barium titanate), nickel inner electrodes and rare-earth additives. Murata is highly vertically integrated in materials; amounts undisclosed.","sources":[{"stance":"mentions","publisher":"무라타 / EDINET","publisher_en":"Murata / EDINET","kind":"filing","lang":"ja","published_at":"2025-06-27","url":"https://disclosure2dl.edinet-fsa.go.jp/searchdocument/pdf/S100VZKQ.pdf","title":"무라타 유가증권보고서 (EDINET)","title_en":"Murata Annual Securities Report (EDINET)","excerpt":"유가증권보고서: 원재료로 세라믹 분말·금속 재료를 사용하며 일부는 자사 내재화. 구체 매입액 비공개.","excerpt_en":"Annual Securities Report: raw materials include ceramic powders and metals, partly produced in-house; specific procurement amounts undisclosed."}]}]}