TOKYO — (BUSINESS WIRE) — May 11, 2017 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the three months ended March 31, 2017.
Summary of Consolidated Financial Results
| Three-month period ended | ||||||
| March 31, 2017 | ||||||
| Billion Yen | % of Net Sales | |||||
| Net sales | 177.6 | 100.0 | ||||
| Sales from semiconductors | 172.5 | |||||
| Sales from others | 5.1 | |||||
| Operating income | 25.5 | 14.3 | ||||
| Ordinary income | 24.5 | 13.8 | ||||
| Net income attributable to shareholders of parent company | 20.0 | 11.2 | ||||
| Capital expenditures | 31.2 | |||||
| Depreciation and others | 20.1 | |||||
| R&D expenses | 27.1 | |||||
| Yen | ||||||
| Exchange rate (USD) | 114 | |||||
| Exchange rate (EUR) | 121 | |||||
| As of March 31, 2017 | ||||||
| Billion Yen | ||||||
| Total assets | 966.8 | |||||
| Net assets | 432.8 | |||||
| Equity Capital | 430.5 | |||||
| Equity ratio (%) | 44.5% | |||||
| Interest-bearing debt | 252.7 | |||||
| Note 1: | All figures are rounded to the nearest 100 million yen. | |
| Note 2: | Consolidated financial results for the three months ended March 31, 2017 have been reviewed by the auditors. | |
| Note 3: | Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment) and intangible assets. | |
| Note 4: | Depreciation and others includes depreciation and amortization of intangible assets, amortization of long-term prepaid expenses and amortization of good will in quarterly consolidated statements of cash flows. | |
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Consolidated Financial Results for the First Quarter Ended March 31, 2017 |
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| English translation from the original Japanese-language document | |||||
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May 12, 2017 |
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| Company name |
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Renesas Electronics Corporation |
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| Stock exchanges on which the shares are listed |
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Tokyo Stock Exchange, First Section |
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| Code number |
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6723 |
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| URL |
: |
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| Representative |
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Bunsei Kure, Representative Director, |
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| President and CEO | |||||
| Contact person |
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Yoichi Kobayashi, Senior Manager |
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| Corporate Communications Dept. | |||||
| Tel. +81 (0)3-6773-3002 | |||||
| Filing date of Shihanki Hokokusho (scheduled) |
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May 12, 2017 |
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| (Amounts are rounded to the nearest million yen) | |||||
1. Consolidated financial results for the three-month period ended March 31, 2017
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1.1 Consolidated financial results |
(% of change from corresponding period of the previous year) |
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| Net sales |
Operating income |
Ordinary income |
Net income attributable to shareholders of parent company |
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| Million yen | % | Million yen | % | Million yen | % | Million yen | % | |||||||||
| Three-month period ended March 31, 2017 | 177,646 | --- | 25,481 | --- | 24,520 | --- | 19,975 | --- | ||||||||
| Three-month period ended June 30, 2016 | 151,976 | (15.2) | 18,555 | (42.7) | 16,257 | (51.3) | 9,978 | (66.6) | ||||||||
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Reference: |
Comprehensive income for the three months ended March 31, 2017: 10,351 million yen (--%) |
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Comprehensive income for the three months ended June 30, 2016: (6,236) million yen (--%) |
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Net income per share basic |
Net income per share diluted |
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| Yen | Yen | |||||
| Three-month period ended March 31, 2017 | 11.98 | 11.98 | ||||
| Three-month period ended June 30, 2016 | 5.99 | --- | ||||
Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end changed from March 31 to December 31, starting from the fiscal year 2016. Accordingly, the percent of change from the corresponding period of the previous year is not indicated, since the first quarter of the fiscal year ending December 31, 2017 (January 1, 2017 to March 31, 2017) and the first quarter of the previous fiscal year (April 1, 2016 to June 30, 2016) cover different periods.
| [Reference] |
| The following adjusted changes [%] are comparisons of consolidated results for the three months ended March 31, 2017 with consolidated results of the corresponding period for the fiscal year ended December 31, 2016 (January 1, 2016 to March 31, 2016). |
| Note that these consolidated results have not been subject to quarterly review procedures. (All numbers are in millions of yen) |
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Net sales |
Operating income |
Ordinary income |
Net income attributable |
(million yen) |
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to shareholders of parent company |
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| 177,646 | 25,481 | 24,520 | 19,975 | |||||||||
| +5.9% | +62.0% | +118.1% | +94.1% | |||||||||
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1.2 Consolidated financial position |
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| Total assets | Net assets | Equity ratio | |||||||
| Million yen | Million yen | % | |||||||
| March 31, 2017 | 966,822 | 432,785 | 44.5 | ||||||
| December 31, 2016 | 823,054 | 422,393 | 51.0 | ||||||
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Reference: |
Equity as of March 31, 2017: 430,540 million yen |
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Equity as of December 31, 2016: 420,162 million yen |
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2. Cash dividends
| Cash dividends per share | |||||||||||||||
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At the end of first quarter |
At the end of second quarter |
At the end of third quarter |
At the end of year |
Total | |||||||||||
| Yen | Yen | Yen | Yen | Yen | |||||||||||
| Year ended December 31, 2016 | --- | 0.00 | --- | 0.00 | 0.00 | ||||||||||
| Year ending December 31, 2017 | --- | ||||||||||||||
| Year ending December 31, 2017 (forecast) | 0.00 | --- | --- | (---) | |||||||||||
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Note: Change in forecast of cash dividends since the most recently announced forecast: Yes |
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For details, please refer to Appendix 1.4., “Forecasts of Cash Dividends” on page 5. |
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3. Forecast of consolidated results for the six months ending June 30, 2017
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(% of change from corresponding period of the previous year) |
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| Net sales | Operating income | Ordinary income |
Net income attributable to shareholders of parent company |
Net income per share |
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| Million yen | % | Million yen | % | Million yen | % | Million yen | % | yen | |||||||||||||||||||
| Six months ending June 30, 2017 | 369,700 | --- | 38,500 | --- | 37,500 | --- | 40,000 | --- | 23.99 | ||||||||||||||||||
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Note: Change in forecast of consolidated results since the most recently announced forecast: Yes |
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Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end changed from March 31 to December 31, starting from the fiscal year 2016. Accordingly, the percent of change from the corresponding period of the previous year is not indicated, since the second quarter of the fiscal year ending December 31, 2017 (January 1, 2017 to June 30, 2017) and the second quarter of the previous fiscal year (April 1, 2016 to September 30, 2016) cover different periods. In addition, the Group reports its consolidated forecast on a quarterly basis (cumulative quarters) as a substitute for a yearly forecast. For details, refer to page 5 of the Appendix.
| [Reference] |
| The following adjusted changes [%] are comparisons of forecast of consolidated results for the six months ending June 30, 2017 with consolidated results of the corresponding period of the fiscal year ended December 31, 2016 that has been adjusted to a 12-month period (January 1, 2016 to December 31, 2016). |
| Note that the consolidated results for the fiscal year ended December 31, 2016 adjusted for a 12-month period (January 1, 2016 to December 31, 2016) have not been subject to an audit procedure. (All numbers are in millions of yen) |
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Forecast of consolidated results for the six months ending June 30, 2017: |
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Net sales |
Operating income |
Ordinary income |
Net income attributable |
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to shareholders of parent company |
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| 369,700 | 38,500 | 37,500 | 40,000 | ||||||
| +15.6% | +12.3% | +36.4% | +97.3% | ||||||
4. Others
4.1 Changes in significant subsidiaries for the three-month period ended
March 31, 2017: Yes
(Note) For details, please refer to page 6.
4.2 Adoption of special accounting policies for quarterly financial
statements: Yes
(Note) For details, please refer to page 13.
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:
No
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 March 31, 2017: 1,667,124,490 shares
As of December 31, 2016:
1,667,124,490 shares
2. Number of treasury stock
As of March 31, 2017: 2,581 shares
As
of December 31, 2016: 2,581 shares
3. Average number of shares issued and outstanding
For the
three-month period ended March 31, 2017: 1,667,121,909 shares
For
the three-month period ended June 30, 2016: 1,667,121,909 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. The review procedures for the quarterly financial report
have been completed by the time of issuance of this report.
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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 May 12, 2017. 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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