TOKYO, Japan, May 9, 2012 — Renesas Electronics Corporation (TSE: 6723) today announced the recording of special income in the year ended March 31, 2012.
1. Outline of the special income from gain on transfer of business
As announced in the press releases, “Murata Manufacturing and Renesas Electronics Sign Basic Agreement to Transfer High-Power Amplifier Business to Murata Manufacturing” dated July 29, 2011, and “Renesas Electronics Reaches a Definitive Agreement to Transfer its High-Power Amplifier Business to Murata Manufacturing” dated October 31, 2011, Renesas Electronics transferred its high-power amplifier (HPA) business and the business operation of its manufacturing site, the Nagano Device Division of Renesas Eastern Japan Semiconductor, Inc., a wholly-owned subsidiary of Renesas Electronics, to Murata Manufacturing Co., Ltd. during the year ended March 31, 2012. As a result, Renesas Group recorded gain on transfer of business of 4,861 million yen as special income for the year ended March 31, 2012.
2. Impact on Renesas' financial results
Refer to Renesas Group's financial results for the year ended March 31, 2012 issued today on May 9, 2012 for the impact of the special income on the Group's financial results.
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. We caution you in advance that actual results may differ materially from such forward-looking statements due to several important factors including, but not limited to, general economic conditions in our markets, which are primarily Japan, North America, Asia, and Europe; demand for, and competitive pricing pressure on, products and services in the marketplace; ability to continue to win acceptance of products and services in these highly competitive markets; and fluctuations in currency exchange rates, particularly between the yen and the U.S. dollar. Among other factors, downturn of the world economy; deteriorating financial conditions in world markets, or deterioration in domestic and overseas stock markets, may cause actual results to differ from the projected results forecast.
About Renesas Electronics Corporation
Renesas Electronics Corporation (TSE: 6723) delivers trusted embedded design innovation with complete semiconductor solutions that enable billions of connected, intelligent devices to enhance the way people work and live. A global leader in microcontrollers, analog, power and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.