TOKYO — (BUSINESS WIRE) — August 9, 2016 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the three months ended June 30, 2016.
Summary of Consolidated Financial Results
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Three months ended
June 30, 2016 |
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| Billion Yen | % of Net Sales | ||||||
| Net sales | 152.0 | 100.0 | |||||
| Sales from semiconductors | 147.5 | ||||||
| Sales from others | 4.4 | ||||||
| Operating income | 18.6 | 12.2 | |||||
| Ordinary income | 16.3 | 10.7 | |||||
| Net income attributable to shareholders of parent company | 10.0 | 6.6 | |||||
| Capital expenditures | 19.0 | ||||||
| Depreciation and others | 14.5 | ||||||
| R&D expenses | 24.4 | ||||||
| Yen | |||||||
| Exchange rate (USD) | 111 | ||||||
| Exchange rate (Euro) | 124 | ||||||
| As of June 30, 2016 | |||||||
| Billion Yen | |||||||
| Total assets | 823.2 | ||||||
| Net assets | 375.5 | ||||||
| Equity Capital | 373.5 | ||||||
| Equity ratio (%) | 45.4% | ||||||
| Interest-bearing debt | 237.9 | ||||||
| Note 1: | All figures are rounded to the nearest 100 million yen. | ||
| Note 2: | Consolidated financial results for the three months ended June 30, 2016 have been reviewed by the auditors. | ||
| Note 3: |
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 April 1, 2016, to December 31, 2016. |
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| Note 4: |
Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment) and intangible assets. |
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| Note 5: |
Depreciation and others includes depreciation and amortization of intangible assets and amortization of long-term prepaid expenses in quarterly consolidated statements of cash flows. |
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Consolidated Financial Results for the First Quarter Ended June 30, 2016 |
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| English translation from the original Japanese-language document | |||
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August 10, 2016 |
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| Company name |
: Renesas Electronics Corporation |
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| Stock exchanges on which the shares are listed | : Tokyo Stock Exchange, First Section | ||
| Code number |
: 6723 |
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| URL | |||
| Representative |
: Bunsei Kure, Representative Director,
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| Contact person |
: Yoichi Kobayashi, Department Manager
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| Filing date of Shihanki Hokokusho (scheduled) | : August 10, 2016 | ||
| (Amounts are rounded to the nearest million yen) | |||
1. Consolidated financial results for the three months ended June 30, 2016
1.1 Consolidated financial results (% of change from corresponding period of the previous year)
| Net sales |
Operating
|
Ordinary
|
Net income
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| Million yen | % | Million yen | % | Million yen | % | Million yen | % | ||||||||||||||
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Three months ended June 30, 2016 |
151,976 |
(15.2) |
18,555 |
(42.7) |
16,257 |
(51.3) |
9,978 |
(66.6) |
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Three months ended June 30, 2015 |
179,302 |
(14.3) |
32,363 |
19.9 |
33,367 |
31.7 |
29,872 |
40.9 |
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| Reference: | Comprehensive income for the three months ended June 30, 2016: (6,236) million yen (--%) | ||
| Comprehensive income for the three months ended June 30, 2015: 32,844 million yen (54.2%) | |||
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Net income per
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Net income per
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| Yen | Yen | ||||||
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Three months ended June 30, 2016 |
5.99 |
--- |
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Three months ended June 30, 2015 |
17.92 |
--- |
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1.2 Consolidated financial position
| Total assets | Net assets | Equity ratio | ||||||||
| Million yen | Million yen | % | ||||||||
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June 30, 2016 |
823,177 |
375,495 |
45.4 |
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March 31, 2016 |
849,376 |
381,739 |
44.7 |
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| Reference: | Equity as of June 30, 2016: | 373,469 million yen | |||||
| Equity as of March 31, 2016: | 379,479 million yen | ||||||
2. Cash dividends
| Cash dividends per share | ||||||||||||||||
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At the end of
|
At the end of
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At the end of
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At the end of
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Total | ||||||||||||
| Yen | Yen | Yen | Yen | Yen | ||||||||||||
| Year ended March 31, 2016 | --- | 0.00 | --- | 0.00 | 0.00 | |||||||||||
| Year ending December 31, 2016 | --- | |||||||||||||||
| Year ending December 31, 2016 (forecast) | 0.00 | --- | --- | --- | ||||||||||||
| Note: | Change in forecast of cash dividends since the most recently announced forecast: Yes | ||
| For details, please refer to Appendix 1.4., “Forecasts of Cash Dividends” on page 5. | |||
3. Forecast of consolidated results for the six months ending September 30, 2016 (% of change from corresponding period of the previous year)
| Net sales | Operating income | Ordinary income |
Net income
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Net
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Million yen |
% | Million yen | % | Million yen | % | Million yen | % | yen | ||||||||||||||||
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Six months ending September 30, 2016 |
301.000 | (16.6) | 26.000 | (58.8) | 23.000 | (65.7) | 11.500 | (80.0) | 6.90 | |||||||||||||||
| Note: | Change in forecast of consolidated results since the most recently announced forecast: Yes | ||
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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 April 1, 2016, to December 31, 2016. |
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4. Others
| 4.1 | Changes in significant subsidiaries for the three months ended June 30, 2016 | |||
| (Changes in specified subsidiaries resulting in changes in scope of consolidation): Yes | ||||
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(Note) For details, please refer to page 6. |
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| 4.2 | Adoption of special accounting policies for quarterly financial statements: Yes | |||
| (Note) For details, please refer to page 6 | ||||
| 4.3 | Changes in Accounting Policies, Changes in Accounting Estimates and Corrections of Prior Period Errors | |||
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1. Changes in accounting policies with revision of accounting standard: No |
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2. Changes in accounting policies except for 4.3.1: No |
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| 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) | ||||
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As of June 30, 2016: |
1,667,124,490 shares |
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As of March 31, 2016: |
1,667,124,490 shares |
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| 2. Number of treasury stock | ||||
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As of June 30, 2016: |
2,581 shares |
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As of March 31, 2016: |
2,581 shares |
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| 3. Average number of shares issued and outstanding | ||||
| For the three months ended June 30, 2016: |
1,667,121,909 shares |
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| For the three months ended June 30, 2015: | 1,667,121,942 shares | |||
(Note) Information regarding the implementation of quarterly review procedures
Although these quarterly financial results are not subject to quarterly review procedures based upon the Financial Instruments and Exchange Act., the review procedures for the quarterly financial report are completed at the time of issuance of this report.
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Cautionary Statement |
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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. |
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The Group will hold a quarter conference for institutional investors and analysts on August 10, 2016. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day. |
Forward-Looking Statements
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics Corporation 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—securely and safely. The number one global supplier of microcontrollers, and a leader in Analog & Power and SoC products, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics (HE), Office Automation (OA) and Information Communication Technology (ICT) applications to help shape a limitless future. Learn more at renesas.com.
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Renesas Electronics Corporation
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(Media)
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Uehara, +81 3-6773-3002 (Investors)
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