Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the nine months ended December 31, 2015.

Summary of Consolidated Financial Results

    Three months ended December 31, 2015   Nine months ended December 31, 2015 Billion Yen   % of Net Sales Billion Yen   % of Net Sales Net sales 164.8 100.0 525.5 100.0 Sales from semiconductors 160.9 512.4 Sales from others 3.9 13.1 Operating income 25.0 15.1 88.1 16.8 Ordinary income 23.7 14.4 90.9 17.3 Net income attributable to shareholders of parent company 18.6   11.3 76.0   14.5 Capital expenditures (Note 2) 18.6 49.6 Depreciation and others 16.0 46.9 R&D expenses 23.5     70.1     Yen Yen Exchange rate (USD) 121 122 Exchange rate (EUR) 134     134         As of December 31, 2015 Billion Yen Total assets 862.8 Net assets 379.3 Equity Capital 377.0 Equity ratio (%) 43.7 Interest-bearing debt 252.1 Note 1: All figures are rounded to the nearest 100 million yen. Note 2: Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment) and intangible assets. Note 3: 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 Third Quarter Ended December 31, 2015

English translation from the original Japanese-language document

 

 

February 9, 2016

  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 : Tetsuya Tsurumaru, Representative

Director, President and CEO

Contact person : Yoichi Kobayashi, Department Manager Corporate Communications Dept., Tel. +81 (0)3-6773-3002 Filing date of Shihanki Hokokusho (scheduled) : February 9, 2016   (Amounts are rounded to the nearest million yen)  

1. Consolidated financial results for the nine months ended December 31, 2015

1.1 Consolidated financial results (% of change from corresponding period of the previous year)

    Net sales  

Operatingincome

 

Ordinaryincome

 

Net incomeattributable toshareholders ofparent company

Million yen   % Million yen   % Million yen   % Million yen   % Nine months ended December 31, 2015 525,497 (13.7) 88,057 10.1 90,859 10.4 76,000 3.7 Nine months ended December 31, 2014 608,864 (3.7) 79,986 57.9 82,283 90.3 73,320 620.9 Reference: Comprehensive income for the nine months ended December 31, 2015: 67,417 million yen (-30.2%) Comprehensive income for the nine months ended December 31, 2014: 96,543 million yen (250.6%)    

Net income pershare basic

 

Net income pershare diluted

Yen Yen Nine months ended December 31, 2015 45.59 --- Nine months ended December 31, 2014 43.98 ---  

1.2 Consolidated financial position

    Total assets   Net assets   Equity ratio Million yen Million yen % December 31, 2015 862,757 379,317 43.7 March 31, 2015 840,087 311,909 36.8 Reference: Equity as of December 31, 2015: 377,041 million yen Equity as of March 31, 2015: 309,529 million yen  

2. Cash dividends

    Cash dividends per share  

At the end offirst quarter

 

At the end ofsecondquarter

 

At the end ofthird quarter

 

At the end ofyear

  Total Yen Yen Yen Yen Yen Year ended March 31, 2015 --- 0.00 --- 0.00 0.00 Year ending March 31, 2016 --- 0.00 ---     Year ending March 31, 2016

(forecast)

      0.00 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 6.  

3. Forecast of consolidated results for the year ending March 31, 2016 (% of change from corresponding period of the previous year)

    Net sales  

Operatingincome

  Ordinary income  

Net incomeattributable toshareholders ofparent company

 

Net income pershare

Million yen   % Million yen   % Million yen   % Million yen   % yen Year ending March 31, 2016

690,000

 

(12.8)

100,000

 

(4.2)

101,500

 

(3.6)

82,000

 

(0.4)

49.19

Note: Change in forecast of consolidated results since the most recently announced forecast: Yes For details, please refer to Appendix 1.3., “Consolidated Forecasts” on page 6  

4. Others

4.1 Changes in significant subsidiaries for the nine months ended December 31, 2015 (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 December 31, 2015: 1,667,124,490 shares As of March 31, 2015: 1,667,124,490 shares  

 

2. Number of treasury stock

As of December 31, 2015: 2,581 shares As of March 31, 2015: 2,548 shares   3. Average number of shares issued and outstanding For the nine months ended December 31, 2015: 1,667,121,929 shares For the nine months ended December 31, 2014: 1,667,121,942 shares

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.

 

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 February 9, 2016. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.  

(Notes on Assumption for Going Concern）

None

(Notes on Significant Changes in the Amount of Shareholders’ Equity）

In accordance with a resolution at the 13th ordinary general meeting of shareholders held on June 24, 2015, the Company has reduced 218,255 million yen of common stock and 163,789 million yen of capital legal reserve respectively, and transferred the amounts to the other capital surplus on September 30th, 2015. The Company has covered its deficiency by transferring 551,749 million yen from other capital surplus to retained earnings brought forward following the reductions of common stock and capital legal reserve on September 30th, 2015.

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), 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.

Renesas Electronics CorporationKyoko Okamoto, +81 3-6773-3001 (Media)pr@renesas.comMakie Uehara, +81 3-6773-3002 (Investors)ir@renesas.com