Murata warns global technology buildout may lose steam despite raising profit outlook

Murata Manufacturing, the Japanese components giant that supplies critical parts to virtually every major tech company on the planet, just did something unusual: it raised its profit forecast and issued a warning in the same breath. The company now expects operating profit of ¥380 billion for FY2027, a 34.8% jump from the prior year. Its factories are running at roughly 95% capacity. And yet, President Norio Nakajima is telling investors the current pace of global technology infrastructure spending simply cannot hold. The numbers look great, the vibes do not Here’s the thing about Murata. The company controls approximately 40% of the global market for multilayer ceramic capacitors, or MLCCs. These are tiny components that go into everything from smartphones to AI servers. If you’re building data centers at scale, you need Murata’s products. A lot of them. For the fiscal year ending April 2026, Murata posted operating profit of ¥281.8 billion, a modest 0.8% year-over-year increase. Revenue hit ¥1.83 trillion, up 5.0% from the previous year. But the forward guidance is where things get interesting. That ¥380 billion operating profit target for FY2027 reflects surging demand from AI s...