A ferrite is a type of ceramic compound composed of iron oxide (Fe₂O₃) combined chemically with one or more additional metallic elements. They are both electrically nonconductive and ferrimagnetic, meaning they can be magnetized or attracted to a magnet. Ferrites can be divided into two families based on their magnetic coercivity, their resistance to being demagnetized. Hard ferrites have high coercivity; Hence they are difficult to demagnetize. They are used to make magnets, for devices such as refrigerator magnets, loudspeakers and small electric motors. Soft ferrites have low coercivity. They are used in the electronics industry to make ferrite cores for inductors and transformers, and in various microwave components. Yogoro Kato and Takeshi Takei of the Tokyo Institute of Technology invented this material in 1930.