TOKYO, Japan, January 28, 2015 — Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today revised its consolidated financial forecasts for the nine months ended December 31, 2014 (the period from April 1, 2014 to December 31, 2014), which it disclosed on October 29, 2014.
1. Revised forecasts for the nine months ended December 31, 2014
(April 1, 2014 to December 31, 2014)
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 29, 2014) | 595,900 | 63,500 | 60,100 | 46,100 | 27.65 |
| Revised forecasts (As of January 28, 2015) | 608,000 | 80,000 | 82,000 | 73,000 | 43.79 |
| Increase (decrease) | 12,100 | 16,500 | 21,900 | 26,900 | – |
| Percent change | 2.0 | 26.0 | 36.4 | 58.4 | – |
| Reference: Results for the nine months ended December 31, 2013 | 632,508 | 50,667 | 43,244 | 10,171 | 12.11 |
Background to the revision of forecasts
Renesas announced the following revisions to its consolidated forecasts for the nine months ended December 31, 2014:
Net sales were in line with the Group's expectation and are expected to reach a total of 608.0 billion yen, 12.1 billion yen up (2.0% increase) from the previous forecast (announced on October 29, 2014).
Owing to cost reductions from structural reforms; a decrease in selling, general and administrative expenses; and improved product mix, etc., in addition to the impact of the yen depreciation, operating income, ordinary income and net income will all be above the Group's expectation.
The consolidated financial forecasts for the nine months ended December 31, 2014 are based on the rate of 105 yen per USD and 140 yen per Euro.
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.