Tokyo, Japan — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the three months ended March 31, 2020.
Summary of Consolidated Financial Results
|Three months ended March 31, 2020|
|Billion Yen||% of Net Sales|
|Profit attributable to the owners of the parent||11.3||6.3|
|Capital expenditures (Note 3)||6.3|
|Depreciation and others||38.8|
|R&D expenses (Note 4)||33.7|
|Exchange rate (USD)||110|
|Exchange rate (EUR)||121|
|As of March 31, 2020|
|Equity attributable to owners of the parent||624.4|
|Equity ratio attributable to owners of the parent (%)||37.7|
Note 2: Following the acquisition of Integrated Device Technology, Inc. (hereinafter “IDT”) and the absorption type merger of IDT with Renesas Electronics America Inc., since January 1, 2020, the Group has begun the integration of business processes and IT systems, etc. as part of the “One Renesas” promotion. With these processes as a momentum, expense classifications have been revised in order to appropriately display the Group’s financial status and business performance.
Note 3: Capital expenditures refer to the amount of capital for property, plant and equipment (manufacturing equipment) and intangible assets based on the amount of investment decisions made during the quarter ended March 31, 2020. From the quarter ended March 31, 2020, capital expenditures include IDT‘s investments as well as investments including fixed costs of masks and tools.
The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics Corporation 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.
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