TOKYO, Japan, October 30, 2013 — Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today announced its difference between consolidated financial forecasts, which it disclosed on August 2, 2013, and actual results, which it disclosed today, for the six months ended September 30, 2013 (the period from April 1, 2013 to September 30, 2013).
1. Difference between consolidated forecasts and actual results for the six months ended September 30, 2013
(April 1, 2013 to September 30, 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 August 2, 2013) | 408,000 | 14,000 | 8,500 | (40,000) | (95.90) |
| Actual results | 416,866 | 20,688 | 13,910 | (12,810) | (30.22) |
| Increase (decrease) | 8,866 | 6,688 | 5,410 | 27,190 | 65.68 |
| Percent change | 2.2% | 47.8% | 63.6% | – | – |
| Reference: Results for the six months ended September 30, 2012 | 409,384 | (23,310) | (24,443) | (115,081) | (275.89) |
Background to the difference
Renesas announced the following financial results for the six months ended September 30, 2013: net sales were 416.9 billion yen, 8.9 billion yen up from the previous forecast (announced on August 2, 2013); semiconductor sales were 397.3 billion yen, 7.3 billion yen up from the previous forecast.
Operating income (loss) and ordinary income (loss) were better than the company's estimates and quarterly net loss decreased, mainly owing to semiconductor sales being slightly over the company's expectation and its efforts on promoting drastic cost-containment measures and reduction of part of the costs that were expected to be recorded as special loss, etc.
Details will be explained in Renesas' announcement of financial results for the second quarter ended September 30, 2013 on October 30, 2013.
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.