02 Nov 2016
TOKYO, Japan, November 2, 2016― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the consolidated financial forecasts and forecasts of cash dividends for the fiscal year ending December 31, 2016.
1. Consolidated forecasts for the fiscal year ending December 31, 2016
(April 1, 2016 to December 31, 2016)
In millions of yen
|Net Sales||Operating Income||Ordinary Income||Net Income Attributable to
Shareholders of Parent Company
per Share (Yen)
|Forecasts as of November 2, 2016||466,000||54,000||49,000||37,000||22.19|
Results for the nine months ended December 31, 2015
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 April1, 2016 to December 31, 2016.
Therefore, the forecasts for the year ending December 31, 2016 are sum of the results of the six months ended September 30, 2016 and the forecasts of the three months ending December 31, 2016. The consolidated forecasts for the year ending December 31, 2016 are calculated at the rate of 106 yen per USD and 118 yen per Euro.
2. Forecasts of cash dividends for the fiscal year ending December 31, 2016
|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|
|Forecasts as of November 2, 2016||0.00||－||0.00||0.00|
|Results for the fiscal year ending December 31, 2016||－||0.00|
|Results for fiscal year ended December 31, 2016||－||0.00||－||0.00||0.00|
For the year ending December 31, 2016, while the Group expects to post net income (net income attributable to shareholders of parent company) for the year ending December 31, 2016, the Group regrettably suspended interim dividend payment for this period in order to build a solid profitable financial base that can stably record net income moving forward.
Refer to Renesas Electronics' press release “Renesas Electronics Reports Financial Results for the Second Quarter Ended September 30, 2016” issued on November 2, 2016 for more details.
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. Amongst 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. A global leader in microcontrollers, analog, power, and SoC products, Renesas provides comprehensive solutions for a broad range of automotive, industrial, infrastructure, and IoT applications that help shape a limitless future. Learn more at renesas.com. Follow us on LinkedIn, Facebook, Twitter, and YouTube.
The content in the press release, including, but not limited to, product prices and specifications, is based on the information as of the date indicated on the document, but may be subject to change without prior notice.