TOKYO, Japan ― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the consolidated financial forecasts for the six months ending June 30, 2021 and forecasts of cash dividends.
The Group reports its consolidated forecasts on a quarterly basis 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 and gross 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 income or loss from the figures based on GAAP (IFRS based) following a certain set of rules. The gross margin and operating margin forecasts are provided assuming the midpoint in the revenue forecast and the range of the forecast are listed in brackets.
1.Consolidated forecasts for the six months ending June 30, 2021
(January 1, 2021 to June 30, 2021)
In millions of yen
|Forecasts as of April 28, 2021|| 407,678
|Reference: Corresponding period of the previous year (January 1, 2020 to June 30, 2020)||345,415||47.4%||18.5%|
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.
The consolidated forecasts for the six months ending June 30, 2021 are calculated by combining the forecasts for the three months ending June 30, 2021, to the financial results of the three months ended March 31, 2021. The consolidated forecasts for the six months ending June 30, 2021 are calculated at the rate of 106 yen per USD and 127 yen per Euro.
2.Forecasts of cash dividends for the fiscal year ending December 31, 2021
|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 April 28, 2021||0.00||－||－||－|
|Results for the year ending December 31, 2021||－|
|Results for the year ended December 31, 2020||－||0.00||－||0.00||0.00|
For the year ending December 31, 2021 the plan for year-end dividend payments remain undecided. The Group will make an announcement once the decisions are finalized.
Refer to Renesas Electronics' press release “Renesas Electronics Reports Financial Results for the First Quarter Ended March 31, 2021” issued on April 28, 2021 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. 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. 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.