Murata’s Shares Jump After Giving Upbeat Forecast for AI Demand

Murata Manufacturing Co.‘s shares jumped after the component maker reported stronger-than-expected quarterly earnings and gave an upbeat forecast on the back of the AI investment boom.

The Kyoto-based company said net income in the three months through March was ¥76.57 billion ($477 million), beating the average analyst estimate of ¥60 billion. It also announced a buyback of up to ¥150 billion. Shares rose as much as 8.8% in Tokyo after the results.