Electronic Components Sector — MLCC eXchange: August 2026 trade data; MoM decline due to Obon holidays, but growth trend unchanged, ASP continues to rise

Japan Customs released August 2026 trade statistics at 09:30 JST on September 29. MLCC export value declined MoM overall in August, but this appears to reflect a pullback from strong growth through July and the impact of summer holidays; YoY growth remained in the double digits, and we believe the uptrend in export value is unchanged. For IT applications, although there was a MoM decline in August, strong YoY growth continued overall and the underlying trend remains solid. Exports to Taiwan in particular continued to show strong growth of 44% YoY, with export levels in July and August reaching unprecedented highs and ASP also continuing to rise, confirming strong demand in AI applications. Meanwhile, exports to Europe and the US, which have a high weighting for automotive applications, remained broadly flat overall, with Europe showing a somewhat weak trend. We think progress in price negotiations by overseas MLCC manufacturers increases the likelihood that Japanese MLCC manufacturers