Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results for the three months ended June 30, 2016.

Summary of Consolidated Financial Results

     
  Three months ended
June 30, 2016
Billion Yen     % of Net Sales
Net sales 152.0 100.0
Sales from semiconductors 147.5
Sales from others 4.4
Operating income 18.6 12.2
Ordinary income 16.3 10.7
Net income attributable to shareholders of parent company 10.0     6.6
Capital expenditures 19.0
Depreciation and others 14.5
R&D expenses 24.4      
Yen
Exchange rate (USD) 111
Exchange rate (Euro) 124      
 
  As of June 30, 2016
Billion Yen
Total assets 823.2
Net assets 375.5
Equity Capital 373.5
Equity ratio (%) 45.4%
Interest-bearing debt 237.9
 
Note 1:     All figures are rounded to the nearest 100 million yen.
Note 2: Consolidated financial results for the three months ended June 30, 2016 have been reviewed by the auditors.
Note 3:

At the 14th Ordinary General Shareholders’ Meeting held on June 28, 2016, a partial amendment to the Articles of Incorporation was approved and Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end will change from March 31 to December 31 starting from the fiscal year 2016. The current fiscal year (fiscal year ending December 31, 2016) in which the transition to the new accounting period is to take place, will comprise the financial results for the nine months from April 1, 2016, to December 31, 2016.

Note 4:

Capital expenditures refer to the amount of order placed for property, plant and equipment (manufacturing equipment) and intangible assets.

Note 5:

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 First Quarter Ended June 30, 2016

English translation from the original Japanese-language document
   

August 10, 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

: Bunsei Kure, 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) : August 10, 2016
 
(Amounts are rounded to the nearest million yen)
 

1. Consolidated financial results for the three months ended June 30, 2016

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

        Net sales    

Operating
income

    

Ordinary
income

    

Net income
attributable to
shareholders of
parent company

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

Three months ended June 30, 2016

151,976

(15.2)

18,555

(42.7)

16,257

(51.3)

9,978

(66.6)

 

Three months ended June 30, 2015

179,302

 

(14.3)

32,363

 

19.9

33,367

 

31.7

29,872

 

40.9

 
Reference:     Comprehensive income for the three months ended June 30, 2016: (6,236) million yen (--%)
Comprehensive income for the three months ended June 30, 2015: 32,844 million yen (54.2%)
 
       

Net income per
share basic

    

Net income per
share diluted

Yen Yen
 

Three months ended June 30, 2016

5.99

---

 

Three months ended June 30, 2015

17.92

---

 

1.2 Consolidated financial position

        Total assets     Net assets     Equity ratio
Million yen Million yen %
 

June 30, 2016

823,177

375,495

45.4

 

March 31, 2016

849,376

381,739

44.7

 
Reference:     Equity as of June 30, 2016:       373,469 million yen
Equity as of March 31, 2016: 379,479 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, 2016 --- 0.00 --- 0.00 0.00
Year ending December 31, 2016 ---        
Year ending December 31, 2016 (forecast)   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 5.
 

3. Forecast of consolidated results for the six months ending September 30, 2016 (% of change from corresponding period of the previous year)

        Net sales     Operating income     Ordinary income    

Net income
attributable to
shareholders of
parent company

    

Net
income
per share

Million yen

  % Million yen   % Million yen   % Million yen   % yen

Six months ending September 30, 2016

301.000   (16.6) 26.000   (58.8) 23.000   (65.7) 11.500   (80.0) 6.90
 
Note:     Change in forecast of consolidated results since the most recently announced forecast: Yes

At the 14th Ordinary General Shareholders’ Meeting held on June 28, 2016, a partial amendment to the Articles of Incorporation was approved and Renesas Electronics Group implemented a change of the fiscal term in which the fiscal year-end will change from March 31 to December 31 starting from the fiscal year 2016. The current fiscal year (fiscal year ending December 31, 2016) in which the transition to the new accounting period is to take place, will comprise the financial results for the nine months from April 1, 2016, to December 31, 2016.

 

4. Others

4.1   Changes in significant subsidiaries for the three months ended June 30, 2016
(Changes in specified subsidiaries resulting in changes in scope of consolidation): Yes

(Note) For details, please refer to page 6.

 
4.2 Adoption of special accounting policies for quarterly financial statements: Yes
(Note) For details, please refer to page 6
 
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 June 30, 2016:

 

1,667,124,490 shares

As of March 31, 2016:

1,667,124,490 shares

 
2. Number of treasury stock

As of June 30, 2016:

2,581 shares

As of March 31, 2016:

2,581 shares

 
3. Average number of shares issued and outstanding
For the three months ended June 30, 2016:

1,667,121,909 shares

For the three months ended June 30, 2015: 1,667,121,942 shares
 

(Note) Information regarding the implementation of quarterly review procedures

Although 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 are completed 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 (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 quarter conference for institutional investors and analysts on August 10, 2016. The Group plans to post the materials which are provided at the meeting, on the Group’s website on that day.

 

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. The number one global supplier of microcontrollers, and a leader in Analog & Power and SoC products, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics (HE), Office Automation (OA) and Information Communication Technology (ICT) applications to help shape a limitless future. Learn more at renesas.com.