Murata walked forward and worked well on the inside to take a 5-3 lead after the first round.
The Brazilian was struggling to break the defence of Murata, who tucked up tightly.
Falcao adapted his tactics in the second round and began to keep his opponent at range. His plan was working as he had cut the deficit to one as they entered the final round.
The Japanese fighter picked up two points when the referee gave Falcao a public warning, and that ultimately cost him the contest. He produced a strong finish but went on to drop a 14-13 verdict.