Murata (6981) - Module Recovery Expected But Roadblocks Exist
- Murata is currently struggling in both piezo and communications modules, with piezo hurt by overstocking of SAW in China, and modules hurt by a failure to win RF module business in North America
- The bull case has Murata’s investment in IHP SAW and MetroCirc aiding recovery in module business as front end moves to 4x4 MIMO
- Roadblocks do exist, including development of tunable SAW
- There is also concern that Murata has less time than thought to turn around the module business, if discrete SAW market already disappearing
Murata Manufacturing is mainly engaged in the development, manufacture and sale of electronic components and modules in Japan, North America and certain other Asian and European countries. Co.'s products are sold mainly to electronics companies for use as components in telecommunication, computer, audio, video, automotive electronics and other electronic products. Co. is engaged in the development, manufacture and sale of electronic parts and related products, including components for capacitors and piezoelectric products, as well as modules products; the provision of welfare services, personnel services, education and training services, as well as the leasing and management of real estate.
Founded in 2009, Pelham Smithers Associates (PSA) provides market intelligence on Asian technology, focusing in particular on Japan. The industries covered by our team of specialists are: consumer electronics, telecomms, pharmaceuticals, internet, electronic parts and materials, automotive technology, retail and capital goods.
PSA produces both company and sector reports. The focus of PSA’s research is to identify winners and losers as new technologies impact the top and bottom lines of corporations. Critical to our research is the clear explanation of how these new technologies work and how they impact companies and industries.
The founding partners have worked closely together for twenty years and the team has more than doubled in size since 2012.
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