TOKYO, Japan, August 10, 2016― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial forecasts, which it disclosed on June 7, 2016, and the actual results, which it disclosed today, for the three months ended June 30, 2016 (the period from April 1, 2016 to June 30, 2016).
1. Difference between consolidated forecasts and actual results for the three months ended June 30, 2016
(April 1, 2016 to June 30, 2016)
In millions of yen
| Net Sales | Operating Income | Ordinary Income | Net Income Attributable to Shareholders of Parent Company |
Net Income per Share (Yen) | |
|---|---|---|---|---|---|
| Previous forecasts(As of June 7, 2016) | 145,000 | 10,000 | 8,000 | 1,000 | 0.60 |
| Actual results | 151,976 | 18,555 | 16,257 | 9,978 | 5.99 |
| Increase (decrease) | 6,976 | 8,555 | 8,257 | 8,978 | 5.39 |
| Percent change | 4.8% | 85.6% | 103.2% | 897.8% | 897.8% |
| Reference: Results for the three months ended June 30, 2015 | 179,302 | 32,363 | 33,367 | 29,872 | 17.92 |
Background to the difference
Renesas announced the following financial results for the three months ended June 30, 2016: net sales were 152.0 billion yen, 7.0 billion yen up from the previous forecast (announced on June 7, 2016); semiconductor sales were 147.5 billion yen, 6.5 billion yen up from the previous forecast due to production volume being over the Group’s initial plan; operating income, ordinary income and net income attributable to shareholders of parent company were all better than the company's estimates, mainly owing to the cost-containment efforts, in addition to the better-than-expected semiconductor sales.
Details that explain Renesas' announcement of financial results for the three months ended June 30, 2016 are disclosed in the Renesas press release: "Renesas Electronics Reports Financial Results for the First Quarter Ended June 30, 2016" issued on August 10, 2016.
(Note) At the 14th Ordinary General Shareholders’ Meeting held on June 28, 2016, a partial amendment to the Articles of Incorporation was approved and Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end will change from March 31 to December 31 starting from the fiscal year 2016. The current fiscal year (fiscal year ending December 31, 2016) in which the transition to the new accounting period is to take place, will comprise the financial results for the nine months from April1, 2016 to December 31, 2016.
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.