TOKYO, Japan, February 10, 2021― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial results for the year ended December 31, 2020 (January 1, 2020 to December 31, 2020), which it disclosed on February 10, 2021, and the financial results in the previous period (January 1, 2019 to December 31, 2019).
The forecasts for the above period are not disclosed in financial accounting figures (IFRS basis). Therefore, the differences are shown as the actual figures.
1. Difference between consolidated financial results for the year ended December 31, 2020 and the year ended December 31, 2019
In millions of yen
| Revenue | Operating Profit | Profit before tax from continuing operations | Profit | Profit attributable to owners of parent | |
|---|---|---|---|---|---|
| Year ended December 31, 2019 | 718,243 | 6,263 | -325 | -6,228 | -6,317 |
| Year ended December 31, 2020 | 715,673 | 65,142 | 65,216 | 45,726 | 45,626 |
| Difference | -2,570 | 58,879 | 65,541 | 51,954 | 51,943 |
| Difference (%) | -0.4% | 940.1% | - | - | - |
2. Background to the difference
The operating profit, profit before tax from continuing operations, profit, and profit attributable to owners of the parent of the financial results for the year ended December 31, 2020 significantly exceeded the results from the previous period owing to the improvement mainly around selling, general and administrative expenses in addition to an increase in gross profit from the highly profitable Industrial, Infrastructure, IoT business sales growth.
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.