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Renesas Electronics Reports Financial Results for the Second Quarter Ended September 30, 2014

TOKYO — (BUSINESS WIRE) — October 28, 2014 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the six months ended September 30, 2014.

Summary of Consolidated Financial Results

         
  Three months ended   Six months ended

 

  September 30, 2014   September 30, 2014
Billion Yen   % of Net Sales Billion Yen   % of Net Sales
Net sales 207.7 100.0 416.9 100.0

Sales from semiconductors

199.6 400.8
Sales from others 8.1 16.1
Operating income (loss) 23.5 11.3 50.5 12.1
Ordinary income (loss) 23.8 11.4 49.1 11.8
Net income (loss)   13.9   6.7   35.1   8.4
Capital expenditures 6.7 15.0
Depreciation and others 17.6 34.0

R&D expenses

  26.3       53.0    
Yen
Exchange rate (USD) 102 102
Exchange rate (Euro)   138       139    
     
    As of September 30, 2014
Billion Yen
Total assets 836.8
Net assets 248.6
Equity Capital 233.6
Equity ratio (%) 27.9
Interest-bearing debt   268.9
Note 1:   All figures are rounded to the nearest 100 million yen.
Note 2: Consolidated financial results for the six months ended September 30, 2014 have not been reviewed by the auditors. The figures are subject to change based on subsequent events or the auditors’ review. Renesas Electronics Corporation will promptly notify the correction by issuing a press release.
Note 3: Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment).
Note 4: Depreciation and others includes depreciation and amortization of intangible assets and amortization of long-term prepaid expenses in quarterly consolidated statements of cash flows.
 

Consolidated Financial Results for the Second Quarter Ended September 30, 2014

English translation from the original Japanese-language document
 

October 29, 2014

 
Company name  

: Renesas Electronics Corporation

Stock exchanges on which the shares are listed : Tokyo Stock Exchange, First Section
Code number : 6723
URL

: http://www.renesas.com

Representative : Hisao Sakuta, Representative Director,
Chairman and CEO
Contact person : Taizo Endo, Senior Expert
Corporate Communications Dept, CEO
Office
Tel. +81 (0)3-6756-5552
Filing date of Shihanki Hokokusho (scheduled) : November 5, 2014
 
(Amounts are rounded to the nearest million yen)
 

1. Consolidated financial results for the six months ended September 30, 2014

1.1 Consolidated financial results

(% of change from corresponding period of the previous year)

    Net sales  

Operating income
(loss)

 

Ordinary income
(loss)

 

Net income
(loss)

    Million yen %   Million yen %   Million yen %   Million yen %
 
Six months ended September 30, 2014 416,928 0.0 50,526 144.2 49,094 252.9 35,118 ---
 
Six months ended September 30, 2013   416,866 1.8   20,688 ---   13,910 ---   (12,810) ---

Reference:

Comprehensive income for the six months ended September 30, 2014:

46,661 million yen (---%)

Comprehensive income for the six months ended September 30, 2013:

(6,137 million yen) (---%)

 
         
  Net income (loss)   Net income (loss)
    per share basic   per share diluted
Yen Yen
 
Six months ended September 30, 2014 21.07 ---
 
Six months ended September 30, 2013   (30.22)   ---
 

1.2 Consolidated financial position

             
    Total assets   Net assets   Equity ratio
  Million yen   Million yen   %
 
September 30, 2014 836,752 248,591 27.9
 
March 31, 2014   786,002   227,314   27.3

Reference:

Equity as of September 30, 2014:

233,592 million yen

Equity as of March 31, 2014:

214,601 million yen

 

Note: Equity is equal to “Net assets” excluding “Share subscription rights” and “Minority interests”

 

2. Cash dividends

     
    Cash dividends per share
  At the end of   At the end of   At the end of   At the end of   Total
    first quarter   second quarter   third quarter   year    
Yen Yen Yen Yen Yen
Year ended March 31, 2014 --- 0.00 --- 0.00 0.00
Year ending March 31, 2015   ---   0.00            
Year ending March 31, 2015 --- --- ---
(forecast)                    

Note: Change in forecast of cash dividends since the most recently announced forecast: No

 

3. Forecast of consolidated results for the nine months ending December 31, 2014

(% of change from corresponding period of the previous year)

    Net sales  

Operating
income (loss)

 

Ordinary income
(loss)

 

Net income
(loss)

 

Net
income
(loss) per
share

  Million yen   %   Million yen   %   Million yen   %   Million yen   %   yen
Nine months ending December 30, 2014   595,900   (5.8)   63,500   25.3   60,100   39.0   46,100   353.2   27.65

Note:

Change in forecast of consolidated results since the most recently announced forecast: Yes

Renesas Electronics Group reports its consolidated forecasts on a quarterly basis as substitute for a yearly forecast. For details, please refer to Appendix 1.3., “Consolidated Forecasts” on page 6.

 

4. Others

4.1 Changes in significant subsidiaries for the six months ended September 30, 2014

(Changes in specified subsidiaries resulting in changes in scope of consolidation): No

4.2 Adoption of special accounting policies for quarterly financial statements: Yes

(Note) For details, please refer to page 7.

4.3 Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors

1. Changes in accounting policies with revision of accounting standard: Yes

(Note) For details, please refer to page 7.

2. Changes in accounting policies except for 4.3.1: No

3. Changes in accounting estimates: No

4. Corrections of prior period errors: No

4.4 Number of shares issued and outstanding (common stock)

1. Number of shares issued and outstanding (including treasury stock)

As of September 30, 2014: 1,667,124,490 shares

As of March 31, 2014: 1,667,124,490 shares

2. Number of treasury stock

As of September 30, 2014: 2,548 shares

As of March 31, 2014: 2,548 shares

3. Average number of shares issued and outstanding

For the six months ended September 30, 2014: 1,667,121,942 shares

For the six months ended September 30, 2013: 423,952,543 shares

(Note) Information regarding the implementation of quarterly review procedures

These quarterly financial results are not subject to quarterly review procedures based upon the Financial Instruments and Exchange Act. These are under the review procedures for the quarterly financial report at the time of issuance of this report.

 

Cautionary Statement

The statements with respect to the financial outlook of Renesas Electronics Corporation (hereafter “the Company”) and its consolidated subsidiaries (hereafter “the Group”) 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 changes in several important factors.
The Group will hold a quarterly earnings conference for institutional investors and analysts on October 29, 2014. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE: 6723), the world’s number one supplier of microcontrollers, is a premiere supplier of advanced semiconductor solutions including microcontrollers, SoC solutions and a broad-range of analog and power devices. Business operations began as Renesas Electronics Corporation in April 2010 through the integration of NEC Electronics Corporation (TSE:6723) and Renesas Technology Corp., with operations spanning research, development, design and manufacturing for a wide range of applications. Headquartered in Japan, Renesas Electronics Corporation has subsidiaries in approximately 20 countries worldwide. More information can be found at www.renesas.com.


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Renesas Electronics Corporation
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