KYOTO -- Japanese electronic components supplier Murata Manufacturing on Thursday cut its group net profit forecast for fiscal 2022 to 226 billion yen ($1.76 billion), down 28% on the year, citing a sharp decline in demand for smartphones and computers.
The 71 billion yen downgrade was its second for the fiscal year ending March 31. Sales are now expected to fall 7% to 1.68 trillion yen, and operating profit to drop 30% to 295 billion yen, both down from its last estimates in October.
