MLCC Demand for auto and 5G/Internet of Things Investments Exceed our Forecast; FVE up to JPY 2,400
We will raise Taiyo Yuden’s fair value estimate to JPY 2,400 from JPY 2,100, as we have revised our revenue forecast. We believe that demand for multi-layer ceramic capacitors, or MLCC, will be much stronger than our original numbers, underpinned by the auto digitalization and 5G/Internet of Things base station investments. The top two suppliers of auto MLCC are TDK and Murata Manufacturing, but as these companies are not able to fulfill demand especially from the auto industry, Taiyo Yuden will...TAIYO YUDEN is a manufacturer mainly engaged in the electronic component business. Co. is involved in the manufacture and sale of electronic parts such as ceramic condensers, inductors, ferrite-applied components, ferrite cores, high frequency dielectric components, circuits modules, energy devices and composite ceramic applied components, among others. Co. is also engaged in the temporary staffing services, as well as consultation services for environmental measurement.
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