TOKYO, Japan, February 6, 2014 — Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today announced its difference between consolidated financial forecasts, which it disclosed on October 30, 2013, and actual results, which it disclosed today, for the nine months ended December 31, 2013 (the period from April 1, 2013 to December 31, 2013).
1. Difference between consolidated forecasts and actual results for the nine months ended December 31, 2013
(April 1, 2013 to December 31, 2013)
In millions of yen
| Net Sales | Operating Income (loss) | Ordinary Income (Loss) | Net Income (Loss) | Net Income (Loss) per Share (Yen) | |
|---|---|---|---|---|---|
| Previous forecasts (As of October 30, 2013) | 613,900 | 36,700 | 26,900 | 11,200 | 13.34 |
| Actual results | 632,508 | 50,667 | 43,244 | 10,171 | 12.11 |
| Increase (decrease) | 18,608 | 13,967 | 16,344 | (1,029) | (1.23) |
| Percent change | 3.0% | 38.1% | 60.8% | (9.2%) | (9.2%) |
| Reference: Results for the nine months ended December 31, 2012 | 600,398 | (31,240) | (35,535) | (161,722) | (387.71) |
Background to the difference
Renesas announced the following financial results for the nine months ended December 31, 2013: net sales were 632.5 billion yen, 18.6 billion yen up from the previous forecast (announced on October 30, 2013); semiconductor sales were 605.0 billion yen, 17.7 billion yen up from the previous forecast.
Operating income (loss) and ordinary income (loss) were better than the company's estimates, mainly owing to net sales being largely over the company's expectation and its efforts on promoting cost-containment measures.
Quarterly net income (loss) was below the company's estimate, mainly owing to recording of additional special losses, including an impairment loss on fixed assets in accordance with the transfer of semiconductor manufacturing facility and related equipment of the company's consolidated subsidiary, which was announced on February 6, 2014, in the news release “Notice Concerning the Recording of Special Income and Losses”.
Details will be explained in Renesas' announcement of financial results for the third quarter ended December 31, 2013 on February 6, 2014.
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.