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Companies

Murata to invest nearly $1bn in electric-car parts

Japanese manufacturer looks to diversify as smartphone demand peaks

The electronics maker plans to transform itself as a supplier of parts for electric vehicles.   © Reuters

OSAKA -- Murata Manufacturing plans to invest as much as 100 billion yen ($933 million) through fiscal 2019 to boost capacity for electronic components used in electric vehicles, seeking a fresh growth driver as the smartphone market plateaus.

The Japanese company will spend between 50 billion and 100 billion yen to expand ceramic capacitor production facilities in the western Japanese prefecture of Shimane and outside the Philippine capital of Manila. It aims to increase capacity by 20% with a focus on parts for electric vehicles. This would represent one of Murata's largest-ever investments in capacitors.

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