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Renesas Electronics Reports Financial Results for the Year Ended March 31, 2014

Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the year ended March 31, 2014.

 

Summary of Consolidated Financial Results

    Year ended
      March 31, 2014
Billion Yen   % of Net Sales
Net sales 833.0 100.0
Sales from semiconductors 796.8
Sales from others 36.2
Operating income (loss) 67.6 8.1
Ordinary income (loss) 58.6 7.0
Net income (loss)     (5.3)   (0.6)
Capital expenditures 29.3
Depreciation and others 76.7
R&D expenses     115.3    
Yen
Exchange rate (USD) 100
Exchange rate (Euro)     133    
       
      As of March 31, 2014
Billion Yen
Total assets 786.0
Net assets 227.3
Equity 214.6
Equity ratio (%) 27.3
Interest-bearing debt     270.9    
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 expenses and amortization of long-term prepaid expenses in quarterly consolidated statements of cash flows.
 

Consolidated Financial Results for the Year Ended March 31, 2014

English translation from the original Japanese-language document
   

May 9, 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

Date of the ordinary general shareholders’ meeting (scheduled)

:

June 25, 2014

Filing date of Yukashoken Hokokusho (scheduled)

:

June 25, 2014

 

 

(Amounts are rounded to the nearest million yen)

 

1. Consolidated financial results for year ended March 31, 2014

1.1 Consolidated financial 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   %

 

Year ended March 31, 2014

833,011 6.0 67,635 --- 58,625 --- (5,291) ---

 

Year ended March 31, 2013

  785,764   (11.0)   (23,217)   ---   (26,862)   ---   (167,581)   ---
Reference:   Comprehensive income for the year ended March 31, 2014:   8,783 million yen
Comprehensive income for the year ended March 31, 2013: (148,542) million yen
 
                     
   

Net income (loss) per share basic

  Net income (loss) per share diluted   Net income (loss) ratio per equity   Ordinary income (loss) ratio per total assets   Operating income (loss) ratio per sales
  Yen   Yen   %   %   %

 

Year ended March 31, 2014

(5.07) --- (3.8) 7.5 8.1

 

Year ended March 31, 2013

  (401.76)   ---   (117.7)   (3.5)   (3.0)
Reference:   Equity in net income of affiliates of the year ended March 31, 2014:   168 million yen
Equity in net income of affiliates of the year ended March 31, 2013: 40 million yen
 

1.2 Consolidated financial position

    Total assets   Net assets   Equity ratio   Net assets per share
  Million yen   Million yen   %   Yen
 
March 31, 2014 786,002 227,314 27.3 128.73
 
March 31, 2013   669,104   77,924   10.0   160.01
Reference:   Equity as of March 31, 2014:   214,601 million yen
Equity as of March 31, 2013: 66,744 million yen
 
Note: Equity is equal to “Net assets” excluding “Share subscription rights” and “Minority interests”
 

1.3 Consolidated cash flows

    Cash flows from

operating activities

  Cash flows from

investing activities

  Cash flows from

financing activities

 

Cash and cash

equivalents at the end of the year

  Million yen   Million yen   Million yen   Million yen

 

Year ended March 31, 2014

93,722 (19.241) 107,007 265,897
 

Year ended March 31, 2013

  (54,101)   (43,160)   36,849   77,731
 

2. Cash dividends

    Cash dividends per share   Total dividends during the year   Dividends payout ratio
(consolidated)
  Dividends ratio per net assets
(consolidated)
    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, 2014

--- 0.00 --- 0.00 0.00 --- --- ---

Year ended
March 31, 2013

  ---   0.00   ---   0.00   0.00   ---   ---   ---

Year ending
March 31, 2015
(forecast)

 

  ---   ---   ---   ---   ---       ---    
 

3. Forecast of consolidated results for the three months ending June 30, 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

Three months ending
June 30, 2014

  202,000   0.7   200,00   17.9   175,00   13.8   140,00   --   8.40
Note:   Change in forecast of consolidated results since the most recently announced forecast: No
Please refer to Appendix 1.3., “Consolidated Forecasts” on page 7.
 
4. Others
 

4.1 Changes in significant subsidiaries for the year ended March 31, 2014

(Changes in specified subsidiaries resulting in changes in scope of consolidation): No
 

4.2 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

2. Changes in accounting policies except for "Changes in Accounting Policies": No

3. Changes in accounting estimates: No
4. Corrections of prior period errors: No
       

4.3 Number of shares issued and outstanding (common stock)

1. Number of shares issued and outstanding (including treasury stock)

As of March 31, 2014: 1,667,124,490 shares

As of March 31, 2013: 417,124,490 shares

 

2. Number of treasury stock

As of March 31, 2014: 2,548 shares

As of March 31, 2013: 2,548 shares

 

3. Average number of shares issued and outstanding

For the year ended March 31, 2014: 1,043,834,271 shares

For the year ended March 31, 2013: 417,121,942 shares

 

(Reference) Non-consolidated results for the year ended March 31, 2014

Non-consolidated financial 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   %
 

Year ended March 31, 2014

738,088 9.1 22,386 -- 15,554 -- (12,527) --
 

Year ended March 31, 2013

  676,275   (7.9)   (61,050)   --   (30,781)   --   (189,002)   --
   

Net income
(loss) per share:
basic

 

Net income
(loss) per share:
diluted

  Yen   Yen
 
Year ended March 31, 2014 (12.00) --
 
Year ended March 31, 2013   (453.11)   --
 

Non-consolidated financial position

                 
    Total assets   Net assets   Equity ratio   Net assets per share
  Million yen   Million yen   %   Yen
 
March 31, 2014 731,800 157,455 21.5 94.45
 
March 31, 2013   667,145   19,880   3.0   47.66
Reference:   Equity at the end of the year ended March 31, 2014:   157,455 million yen
Equity at the end of the year ended March 31, 2013: 19,880 million yen
 

(Note) Information regarding the implementation of audit procedures
These financial statements are under the audit procedures based upon the Financial Instruments and Exchange Act at 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. The Company cautions 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 an earnings conference for institutional investors and analysts on May 9, 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 premier 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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