Murata Plans Higher MLCC Capacity as AI Server Demand Seen Strong Through 2028

Masayoshi Minamikata, deputy president of Murata Manufacturing, said in an interview with Nikkei reported on Sept. 14, 2026, that demand for MLCCs used in AI servers is expected to remain strong at least through 2028. Murata is conducting a 'bold' review of capacity expansion plans over the next three to five years, he said.

Minamikata said the number of MLCCs mounted on each AI server continues to rise, with demand growing not only for small, high-capacity products but also for high-heat-resistance types, pushing products toward higher added value. Over the medium to long term, demand is expected to broaden from AI data centers to edge AI devices, including physical AI applications such as AI-controlled robots.

Industry data cited in the report show that AI servers use roughly 8 to 12 times more MLCCs than conventional general-purpose servers. Lead times for high-value-added MLCCs have stretched from 8-10 weeks to more than 20-26 weeks. Murata's consolidated orders in the first quarter of its fiscal year 2026 (April-June) rose 56.3% year on year to 673.9 billion yen, with capacitor orders up 85.5% to 415.5 billion yen.

Under current plans, Murata intends to invest about 80 billion yen in MLCC production equipment over the two years through fiscal 2027 and raise MLCC capacity by more than 20% in fiscal 2027. Minamikata said the company is studying expansion plans that include new buildings and larger plants at existing domestic and overseas sites, though no final decisions have been made.

On pricing, he said Murata maintains its policy of not changing prices in response to supply-demand fluctuations, to avoid attracting new entrants through short-term price moves. However, he added that if competitors make major price adjustments, it could affect the company's planned product mix and production layout.