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Renesas Electronics Reports Financial Results for the Third Quarter Ended December 31, 2013

Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the three months and nine months ended December 31, 2013.

Summary of Consolidated Financial Results

 

Three months ended

 

Nine months ended

 

December 31, 2013

December 31, 2013

Billion Yen   % of Net Sales Billion Yen   % of Net Sales
Net sales 215.6 100.0 632.5 100.0
Sales from semiconductors 207.6 605.0
Sales from others 8.0 27.5
Operating income (loss) 30.0 13.9 50.7 8.0
Ordinary income (loss) 29.3 13.6 43.2 6.8
Net income (loss) 23.0 10.7 10.2 1.6
Capital expenditures 6.7 26.0
Depreciation and others 18.5 56.9
R&D expenses 24.8   89.2  
Yen Yen
Exchange rate (USD) 99 98
Exchange rate (Euro) 134   130  
   
  As of December 31, 2013
Billion Yen
Total assets 795.8
Net assets 252.2
Equity Capital 240.4
Equity ratio (%) 30.2
Interest-bearing debt 280.9
 
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).
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, 2013

English translation from the original Japanese-language document

February 6, 2014

 

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

: Hisao Sakuta, Representative Director,

Chairman and CEO

Contact person

: Taizo Endo, Executive Manager

Corporate Communications Dept

Tel. +81 (0)3-6756-5552

Filing date of Shihanki Hokokusho (scheduled)

: February 6, 2014

 
(Amounts are rounded to the nearest million yen)

1. Consolidated financial results for the nine months ended December 31, 2013

1.1 Consolidated operating results

 

(% of change from corresponding period of the previous year)

    Net sales

Operating
income (loss)

 

Ordinary
income (loss)

 

Net
income (loss)

Million yen   % Million yen   % Million yen   % Million yen   %

Nine months ended December 31, 2013

632,508

5.3

50,667

---

43,244

---

10,171

---

 

     

Nine months ended December 31, 2012

600,398

 

(10.8)

 

(31,240)

  ---

(35,535)

  ---

(161,722)

  ---
Reference:   Comprehensive income for the nine months ended December 31, 2013:     27,539 million yen
Comprehensive income for the nine months ended December 31, 2012: (153,083) million yen
 
  Net income (loss)   Net income (loss)
  per share basic per share diluted
Yen Yen

Nine months ended December 31, 2013

12.11

---

 

Nine months ended December 31, 2012

(387.71)

---

 

1.2 Consolidated financial condition

    Total assets   Net assets   Equity ratio
Million yen Million yen %
December 31, 2013 795,802 252,245 30.2
 
March 31, 2013 669,104 77,924 10.0
Reference:   Equity as of December 31, 2013:   240,365 million yen
Equity as of March 31, 2013: 66,744 million yen
 

2. Cash dividends

    Cash 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
Yen Yen Yen Yen Yen
Year ended March 31, 2013 --- 0.00 --- 0.00 0.00
Year ending March 31, 2014 --- 0.00 ---    

Year ending March 31, 2014
(forecast)

 

      0.00 0.00
Note:   Change in forecast of cash dividends since the most recently announced forecast:   Yes
For details, please refer to page 7.
 

3. Forecast of consolidated results for the year ending March 31, 2014

(% of change from corresponding period of the previous year)

    Net sales  

Operating
income (loss)

 

Ordinary
income (loss)

 

Net income
(loss)

 

Net income
(loss) per
share

Million yen   % Million yen   % Million yen   % Million yen   % Yen   %

Year ending March 31, 2014

822,500 4.7 54,700 -- 44,200 -- (21,800) -- (20.88) --
Note:   Change in forecast of consolidated financial results since the most recently announced forecast:   Yes
For details, please refer to page 7.

4. Others

4.1   Changes in significant subsidiaries for the nine months ended December 31, 2013  
(Changes in specified subsidiaries resulting in changes in scope of consolidation): Yes
(Note) For details, please refer to page 7.
 
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: 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 December 31, 2013:   1,667,124,490 shares
As of March 31, 2013: 417,124,490 shares
 
2.  

Number of treasury stock

    As of December 31, 2013:   2,548 shares
As of March 31, 2013: 2,548 shares
 
3.  

Average number of shares issued and outstanding

    For the nine months ended December 31, 2013:   839,849,215 shares
For the nine months ended December 31, 2012: 417,121,942 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.

Cautionary Statement

The statements with respect to the financial outlook of Renesas Electronics Corporation (hereafter “the Company”) and its consolidated subsidiaries 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 Renesas Electronics Corporation and its consolidated subsidiaries (hereafter “the Group”) will hold a quarterly earnings conference for institutional investors and analysts on February 6, 2014. The Group plans to post the materials which are provided at the meeting, on the Group’s homepage on that day.

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.

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