Renesas Electronics Reports Financial Results for the Year Ended March 31, 2010

11 May 2010

Renesas Electronics Corporation (TSE: 6723) today announced former NEC Electronics' consolidated financial results for the year ended March 31, 2010.

 

Summary of Consolidated Financial Results

Years ended March 31, 2009 and 2010

  Year ended March 31, 2009 Year ended March 31, 2010 Increase (Decrease)
  Billion Yen % of Net Sales Billion Yen % of Net Sales Billion Yen % Change
Net sales 550.7 100.0 471.0 100.0 (79.6) (14.5)
   Sales from semiconductors 525.9   451.9   (74.0) (14.1)
Operating income (loss) (66.4) (12.1) (49.2) (10.5) 7.2 ---
Ordinary income (loss) (76.2) (13.8) (54.4) (11.5) 21.8 ---
Net income (loss) (85.1) (15.4) (56.4) (12.0) 28.6 ---
  Yen   Yen   Yen % Change
Net income (loss) per share (688.77)   (456.95)   231.82 ---
  Billion Yen   Billion Yen   Billion Yen % Change
Capital expenditures 56.6   31.4   (25.1) (44.4)
Depreciation and others 64.9   58.0   (6.8) (10.6)
R&D expenses 110.4   91.7   (18.7) (17.0)
  Yen   Yen      
Exchange rate (USD) 101   93      
Exchange rate (Euro) 146   132      

Three months ended March 31, 2009 and 2010

  Three months ended March 31, 2009 Three months ended March 31, 2010 Increase (Decrease)
  Billion Yen % of Net Sales Billion Yen % of Net Sales Billion Yen % Change
Net sales 85.9 100.0 131.8 100.0 45.9 53.4
   Sales from semiconductors 81.1   126.1   45.0 55.5
Operating income (loss) (53.0) (61.7) (3.0) (2.3) 50.1 ---
Ordinary income (loss) (57.8) (67.2) (5.3) (4.0) 52.5 ---
Net income (loss) (64.0) (74.5) (2.4) (12.0) 61.7 ---
  Yen   Yen   Yen % Change
Net income (loss) per share (518.41)   (19.10)   499.31 ---
  Billion Yen   Billion Yen   Billion Yen % Change
Capital expenditures 17.1   7.4   (9.8) (57.0)
Depreciation and others 16.7   15.7   (1.0) (6.1)
R&D expenses 26.9   2.8   (4.1) (15.2)
  Yen   Yen      
Exchange rate (USD) 91   90      
Exchange rate (Euro) 120   128      
  As of March 31, 2009 As of March 31, 2010 Increase (Decrease)
  Billion Yen   Billion Yen   Billion Yen % Change
Total assets 488.2   459.9   (28.3) (5.8)
Net assets 194.7   136.3   (58.4) (30.0)
Equity ratio (%) 39.0%   28.8%   (10.2) ---
Interest-bearing debt 111.3   140.9   29.5 26.5
  Persons   Persons   Persons % Change
Number of employees 22,476   22,071   (405) (1.8)

Note.

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

2. Capital expenditures refer to the cost of additions to property, plant and equipment (excluding software).

3. Depreciation and others includes depreciation and amortization, and amortization of long-term prepaid expense.



Forward-Looking Statements

The statements in this press release with respect to the plans, strategies and financial outlook of Renesas Electronics and its consolidated subsidiaries (collectively "Renesas Electronics") 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, home electronics, office automation, and information communication technology applications that help shape a limitless future. Learn more at renesas.com.


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.