Morgan Stanley raises MLCC forecast on Japan output data

Investing.com -- Morgan Stanley has raised its forecast for multilayer ceramic capacitors following June production statistics from Japan's Ministry of Economy, Trade and Industry.

Japan's MLCC output value in June reached ¥70.1 billion, down 0.1% year-over-year but up 19.8% month-over-month. When converted to U.S. dollars, the production value totaled $431.70 million, representing an 11.1% decline from $485.64 million a year earlier and a 16.8% increase from $369.68 million in May.

The average selling price for MLCCs stood at ¥0.61 in June, down 21.8% year-over-year and 5.3% month-over-month. In dollar terms, the ASP reached 0.376 cents, down 30.4% from 0.540 cents a year ago and 7.6% lower than May's 0.407 cents.

Trade statistics from Japan's Ministry of Finance showed June MLCC export value at ¥72.0 billion, up 31.5% year-over-year and 10.7% month-over-month. Export volume reached 89.0 billion units, rising 6.5% annually and 6.1% monthly. In dollar terms, export value of $443.39 million increased 17.1% from $378.51 million a year earlier and 7.9% from $410.75 million in May.

Combined April-June MLCC sales for the five major suppliers totaled $3.799 billion, up 18.6% from $3.203 billion in the same period last year and 14.3% higher than the January-March quarter's $3.325 billion. Murata Manufacturing held a 46.7% market share among the five companies, followed by SEMCO at 26.6%, Taiyo Yuden at 11.4%, TDK at 8.3%, and Yageo at 7.1%.

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