30 Jul 2020
TOKYO, Japan ― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the consolidated financial forecasts for the nine months ending September 30, 2020.
The Group reports its consolidated forecasts for the next quarter (cumulative quarters) as a range because of the difficulty of forecasting full-year results with high accuracy due to the short-term volatility of the semiconductor market. Additionally, in order to provide useful information to better understand the Group’s constant business results, figures such as revenue, gross margin and operating margin are presented in the non-GAAP format, which excludes or adjusts the non-recurring items related to acquisitions and other adjustments including non-recurring expenses or income from the financial figures (GAAP, IFRS basis) following a certain set of rules. The gross margin and operating margin forecasts are given assuming the midpoint in the net sales forecast.
1. Consolidated forecasts for the nine months ending September 30, 2020
(January 1, 2020 to September 30, 2020)
In millions of yen
|Non-GAAP Revenue||Non-GAAP Gross Margin||Non-GAAP Operating Margin|
|Forecasts as of July 30, 2020||508,415
Corresponding period of the previous year (January 1, 2019 to March 31, 2019)
Note: Non-GAAP figures are calculated by removing or adjusting non-recurring items and other adjustments from GAAP (IFRS based) figures following a certain set of rules. The Group believes non-GAAP measures provide useful information in understanding and evaluating the Group’s constant business results, and therefore results are provided in non-GAAP base. This adjustment and exclusion include the amortization of intangible assets recognized from acquisitions, other PPA (purchase price allocation) adjustments and costs relating to acquisitions, stock-based compensation, as well as other non-recurring expenses and income the Group believes to be applicable. In addition, as of the first quarter ended March 31, 2019, there has been a change in the Group’s auditor, and therefore, quarterly figures of the year ended December 31, 2018, provided under IFRS are not reviewed by the previous auditors. However, for each of the quarterly figures of the year ended December 31, 2018 provided under the generally accepted accounting principal in Japan (J-GAAP) have been reviewed by the Group’s previous auditor.
The consolidated forecasts for the nine months ending September 30, 2020 are calculated by combining the forecasts for the three months ending September 30, 2020, to the financial results of the six months ended June 30, 2020. The consolidated forecasts for the nine months ending September 30, 2020 are calculated at the rate of 108 yen per USD and 119 yen per Euro.
Refer to Renesas Electronics' earnings report “ Renesas Electronics Reports Financial Results for the Second Quarter Ended June 30, 2020 (PDF: 559KB)” issued on July 30, 2020 for more details.
The statements with respect to the financial outlook of the Group are forward-looking statements involving risks and uncertainties. The Company cautions you in advance that actual results may vary materially from such forward-looking statements due to several important factors.
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.
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