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Renesas Electronics Announces Consolidated Financial Forecasts and Forecasts of Cash Dividends for the Fiscal Year Ending March 31, 2014

Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the consolidated full-year financial forecasts and forecasts of cash dividends for the fiscal year ending March 31, 2014.

1. Consolidated forecasts for the fiscal year ending March 31, 2014

(April 1, 2013 to December 31, 2013)

     

In millions of yen

   

Net Sales

 

Operating
Income
(loss)

 

Ordinary
Income
(Loss)

 

Net Income
(Loss)

 

Net Income
(Loss) per
Share

Original forecasts   ---   ---   ---   ---   ---
Forecasts as of February 6, 2014   822,500   54,700   44,200   (21,800)   (20.88)
Increase (decrease)   ---   ---   ---   ---   ---
Percent change   ---   ---   ---   ---   ---
Reference:

Results for the year

ended March 31, 2013

  785,764   (23,217)   (26,862)   (167,581)   (401.76)

The forecasts for the fiscal year ending March 31, 2014 are sum of the results of the nine months ended December 31, 2013 and the forecasts for the three months ending March 31, 2014. The consolidated forecasts for the fiscal year ending March 31, 2014 are calculated at the rate of 99 yen per USD and 132 yen per Euro.

2. Forecasts for cash dividends for the fiscal year ending March 31, 2014

    Dividends per share
   

At the end
of first
quarter

 

At the end
of second
quarter

 

At the end
of third
quarter

 

At the end
of year

  Total

Previous forecasts

 

       
Forecasts as of

February 6, 2014

            0.00   0.00
Results for the three months ended December 31, 2013  

 

0.00

           
Results for the year

ended March 31, 2013

    0.00     0.00   0.00

For the forecasts of cash dividends for the fiscal year ending March 31, 2014, the Group expects to record a consolidated net loss in the fiscal year ending March 31, 2014, and expects that the Group will not be able to recover from its cumulative loss due to its heavy cumulative loss in the previous fiscal year ended March 31, 2013. Therefore the Group intends to forgo year-end dividend payments but will work toward improved results that will allow dividends to be reinstated at the earliest possible date.

Refer to Renesas Electronics’ press release “Renesas Electronics Reports Financial Results for the Third Quarter Ended December 31, 2013” issued on February 6, 2014 for more details.

Forward-Looking Statements

The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics 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 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 has subsidiaries in 20 countries worldwide. More information can be found at www.renesas.com.

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