February 12, 2020

Tokyo, Japan — Renesas Electronics Corporation (TSE:6723) today announced consolidated financial results in accordance with IFRS for the year ended December 31, 2019.

Summary of Consolidated Financial Results

  Year ended December 31, 2019
  Billion Yen % of Net Sales
Revenue 718.2 100.0
Operating profit 6.8 1.0
Net profit (5.9) (0.8)
Capital expenditures (Note 2) 10.8  
Depreciation and others (Note 3) 148.0  
R&D expenses (Note 4) 128.7  
Exchange rate (USD) 109  
Exchange rate (EUR) 123  
  As of December 31, 2019
  Billion Yen
Total assets 1,667.4
Total equity 623.6
Equity attributable to owners of the parent 620.7
Equity ratio attributable to owners of the parent (%) 37.2
Interest-bearing debt 785.9

Note 1: All figures are rounded to the nearest 100 million yen.

Note 2: 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 year ended December 31, 2019.

Note 3: Depreciation and others includes depreciation and amortization of intangible assets and amortization of long-term prepaid expenses in consolidated statements of cash flows.

Note 4: Part of R&D expenses have been capitalized and have been recorded as intangible assets. R&D expense which have been recorded as intangible assets are listed here.

Note 5: The allocation of the acquisition costs (PPA: Purchase Price Allocation) for the business combinations with Integrated Device Technology, Inc. (“IDT”), which Renesas acquired on March 30, 2019 (JST), has been revised at the end of the full year ended December 2019. The revised allocation of the acquisition costs are reflected in the consolidated financial figures of FY2019/12.

Forward-Looking Statements

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.

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.

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