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TMCNet:  Notice Concerning the Difference between Forecasts and Actual Financial Results for the Year Ended March 31, 2014

[May 09, 2014]

Notice Concerning the Difference between Forecasts and Actual Financial Results for the Year Ended March 31, 2014

TOKYO --(Business Wire)--

Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced semiconductor solutions, today announced its difference between consolidated financial forecasts, which it disclosed on February 6, 2014, and actual results, which it disclosed today, for the year ended March 31, 2014 (the period from April 1, 2013 to March 31, 2014).

1. Difference between consolidated forecasts and actual results for the year ended March 31, 2014




                   

(April 1, 2013 to March 31, 2014)

               

In millions of yen

     

Net Sales

   

Operating
Income
(loss)

   

Ordinary
Income
(Loss)

   

Net Income
(Loss)

   

Net Income
(Loss) per
Share (Yen)

Previous forecasts
(As of February 6, 2014)

    822,500     54,700     44,200     (21,800)     (20.88)
Actual results     833,011     67,635     58,625     (5,291)     (5.07)
Increase (decrease)     10,511     12,935     14,425     16,509     15.81
Percent change    

1.3%

   

23.6%

   

32.6%

    75.7%     75.7%

Reference
Results for the year
ended March 31, 2014

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

Background to the difference

Renesas announced the following financial results for the year ended March 31, 2014: net sales were 833.0 billion yen, 10.5 billion yen up from the previous forecast (announced on February 6, 2014); semiconductor sales were 796.8 billion yen, 6.8 billion yen up from the previous forecast.

Operating income (loss), ordinary income (loss) and net income (loss) were all better than the company's estimates, mainly owing to semiconductor sales being over the company's expectation and its efforts on promoting cost-containment measures.

Details will be explained in Renesas' announcement of financial results for the year ended March 31, 2014 on May 9, 2014.

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 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 (News - Alert) 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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