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Murata's April-December net profit falls despite strong sales

Electronic parts manufacturer retains full-year guidance

TOKYO -- Murata Manufacturing suffered a 5% drop in group net profit to 120.4 billion yen ($1.11 billion) in the nine months through December due to a cost blowout stemming from mass production of a cutting-edge smartphone component.

Sales climbed 19% to 1.03 trillion yen, the Japanese company reported Tuesday. Sales of capacitors, including mainstay multilayer ceramic capacitors, rose 22% to 335.9 billion yen thanks to demand from electrified vehicles and new smartphone models.

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