TOKYO — (BUSINESS WIRE) — October 28, 2020 — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the nine months ended September 30, 2020.
Summary of Consolidated Financial Results (Note 1)
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Three months ended
|
Nine months ended
|
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|
Billion Yen |
% of Revenue |
Billion Yen |
% of Revenue |
Revenue |
178.7 |
100.0 |
524.1 |
100.0 |
Operating profit |
17.2 |
9.7 |
47.8 |
9.1 |
Profit attributable to owners of parent |
15.3 |
8.5 |
38.5 |
7.3 |
Capital expenditures (Note 2) |
4.6 |
|
14.8 |
|
Depreciation and others (Note 3) |
34.5 |
|
107.7 |
|
R&D expenses (Note 4) |
33.4 |
|
98.5 |
|
|
Yen |
|
Yen |
|
Exchange rate (USD) |
107 |
|
108 |
|
Exchange rate (EUR) |
123 |
|
121 |
|
|
|
|
As of September 30, 2020 |
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Billion Yen |
Total assets |
1,620.4 |
Total equity |
632.2 |
Equity attributable to owners of parent |
629.3 |
Equity ratio attributable to owners of parent (%) |
38.8 |
Interest-bearing liabilities |
717.1 |
Note 1: |
All figures are rounded to the nearest 100 million yen. |
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Note 2: |
Capital expenditures refer to the amount of capital for property, plant and equipment (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the quarter ended September 30, 2020. From the quarter ended March 31, 2020, capital expenditures include Integrated Device Technology, Inc. (hereinafter “IDT”)’s investments as well as investments including fixed costs of masks and tools. |
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Note 3: |
Depreciation and others includes depreciation of property, plant and equipment, amortization of intangible assets and amortization of long-term prepaid expenses in consolidated statements of cash flows. |
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Note 4: |
R&D expenses includes a partially capitalized R&D expenses recorded as intangible assets. |
RENESAS ELECTRONICS CORPORATION Consolidated Financial Results for the Third Quarter Ended September 30, 2020 English translation from the original Japanese-language document |
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October 29, 2020 |
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Company name |
:Renesas Electronics Corporation |
Stock exchanges on which the shares are listed |
:Tokyo Stock Exchange, First Section |
Code number |
:6723 |
URL |
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Representative |
:Hidetoshi Shibata, Representative Director, President and CEO |
Contact person |
:Yoichi Kobayashi, Senior Director Corporate Communications Dept. Tel. +81 (0)3-6773-3002 |
Filing date of Shihanki Hokokusho (scheduled) |
:November 5, 2020 |
(Amounts are rounded to the nearest million yen)
1. Consolidated financial results for the nine months ended September 30, 2020
1.1 Consolidated financial results |
(% of change from corresponding period of the previous year) |
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|
Revenue |
Operating profit (loss) |
Profit before tax from continuing operations (loss) |
Profit (loss) |
Profit attributable to owners of parent (loss) |
Total comprehensive income (loss) |
||||||||||||
|
Million yen |
% |
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
%
|
Million yen |
% |
||||||
Nine months ended September 30, 2020 |
524,093 |
(0.4) |
47,818 |
--- |
46,592 |
--- |
38,488 |
--- |
38,471 |
--- |
(3,930) |
--- |
||||||
Nine months ended September 30, 2019 |
526,241 |
(7.5) |
(4,174) |
--- |
(6,608) |
--- |
(6,965) |
--- |
(6,967) |
--- |
(44,305) |
--- |
||||||
|
Basic
|
Diluted
|
|
Yen |
Yen |
Nine months ended September 30, 2020 |
22.42 |
21.98 |
Nine months ended September 30, 2019 |
(4.12) |
(4.12) |
1.2 Consolidated financial position |
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Total assets |
Total equity |
Equity attributable to owners of parent |
Equity ratio attributable to owners of parent |
|
Million yen |
Million yen |
Million yen |
% |
September 30, 2020 |
1,620,426 |
632,171 |
629,311 |
38.8 |
December 31, 2019 |
1,668,148 |
624,404 |
621,455 |
37.3 |
2. Cash dividends |
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|
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
|
--- |
0.00 |
--- |
0.00 |
0.00 |
Year ending
|
--- |
0.00 |
--- |
|
|
Year ending December 31, 2020 (forecast) |
|
|
|
0.00 |
0.00 |
Note: Change in forecast of cash dividends since the most recently announced forecast: Yes |
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3. Forecast of consolidated results for the full year ending December 31, 2020 |
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|
Non-GAAP Revenue |
Non-GAAP Gross Margin |
Non-GAAP Operating Margin |
|||
|
Million yen |
% |
% |
%pts |
% |
%pts |
|
707,093 |
(1.6) |
47.3 |
4.4 |
19.0 |
6.1 |
Full year ending December 31, 2020 |
to 715,093 |
to (0.4) |
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Note 1: |
The Group reports its consolidated forecast on a quarterly basis (cumulative quarters) as substitute for a yearly forecast in a range format. For details, please refer to Appendix 1.3. “Consolidated Forecasts” page 6. |
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Note 2: |
Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP figures following a certain set of rules. The Group believes non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results, and therefore forecasts are provided as a non-GAAP basis. |
4. Others
4.1 Changes in significant subsidiaries for the nine months ended September 30, 2020: Yes |
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(Changes in specified subsidiaries resulting in changes in scope of consolidation) |
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(Note) For details, please refer to page 16. |
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4.2 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 4.2.1: Yes |
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3. Changes in accounting estimates: No |
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|
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4.3 Number of shares issued and outstanding (common stock) |
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1. Number of shares issued and outstanding (including treasury stock) |
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As of September 30, 2020: |
1,723,201,290 shares |
As of December 31, 2019: |
1,710,276,790 shares |
|
|
2. Number of treasury stock |
|
As of September 30, 2020: |
2,581 shares |
As of December 31, 2019: |
2,581 shares |
|
|
3. Average number of shares issued and outstanding |
|
Nine months ended September 30, 2020: |
1,716,107,309 shares |
Nine months ended September 30, 2019: |
1,689,257,809 shares |
(Note) Information regarding the implementation of audit procedures. |
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These financial results are not subject to quarterly review procedures by the independent auditor. |
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Cautionary Statement |
The Group will hold a quarterly earnings conference for institutional investors and analysts on October 29, 2020. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day. |
The statements with respect to the financial outlook of Renesas Electronics Corporation (hereinafter “the Company”) and its consolidated subsidiaries (hereinafter “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. |
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. A global leader in microcontrollers, analog, power, and SoC products and integrated platforms, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics, Office Automation and Information Communication Technology applications to help shape a limitless future. Learn more at renesas.com.
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Contact:
Media Contacts
Kyoko Okamoto
Renesas Electronics Corporation
+81 3-6773-3001
pr@renesas.com
Investor Contacts
Shigeo Muto
Renesas Electronics Corporation
+81 3-6773-3002
ir@renesas.com