Notice Concerning the Difference between Forecasts and Actual Financial Results for the Three Months Ended March 31, 2018
TOKYO, Japan, May 11, 2018― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the difference between its consolidated financial forecasts, which it disclosed on February 9, 2018, and the actual results, which it disclosed today, for the three months ended March 31, 2018 (the period from January 1, 2018 to March 31, 2018).
1. Difference between consolidated forecasts and actual results for the three months ended March 31, 2018
|(January 1, 2018 to March 31, 2018)||In millions of yen|
|Net Sales||Operating Income||Ordinary Income||Net Income Attributable to Shareholders of Parent Company||Net Income per Share (Yen)|
|Previous forecasts (As of February 9, 2018)||182,000||10,000||9,000||16,000||9.60|
Results for the three months ended March 31, 2017
2. Background to the difference
Renesas announced the following financial results for the three months ended March 31, 2018: net sales were 185.9 billion yen, 3.9 billion yen up from the previous forecast (announced on February 9, 2018); semiconductor sales were 182 billion yen, 3.3 billion yen up from the previous forecast; operating income, ordinary income and net income attributable to shareholders of parent company were all better than the company's estimates, mainly owing to production increase and cost-containment efforts, in addition to the better-than-expected sales.
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. A global leader in microcontrollers, analog, power and SoC products and integrated platforms, Renesas provides the expertise, quality, and comprehensive solutions for a broad range of Automotive, Industrial, Home Electronics, Office Automation and Information Communication Technology applications to help shape a limitless future. Learn more at renesas.com.
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas and its consolidated subsidiaries (collectively “we”) are forward-looking statements involving risks and uncertainties. Such forward-looking statements do not represent any guarantee by management of future performance. In many cases, but not all, we use such words as “aim,” “anticipate,” “believe,” “continue,” “endeavor,” “estimate,” “expect,” “initiative,” “intend,” “may,” “plan,” “potential,” “probability,” “project,” “risk,” “seek,” “should,” “strive,” “target,” “will” and similar expressions to identify forward-looking statements. You can also identify forward-looking statements by discussions of strategy, plans or intentions. These statements discuss future expectations, identify strategies, contain projections of our results of operations or financial condition, or state other forward-looking information based on our current expectations, assumptions, estimates and projections about our business and industry, our future business strategies and the environment in which we will operate in the future. Known and unknown risks, uncertainties and other factors could cause our actual results, performance or achievements to differ materially from those contained or implied in any forward-looking statement, 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.
This press release is based on the economic, regulatory, market and other conditions as in effect on the date hereof. It should be understood that subsequent developments may affect the information contained in this presentation, which neither we nor our advisors or representatives are under an obligation to update, revise or affirm.