Renesas Electronics Reports Financial Results for the First Quarter Ended March 31, 2020

27 Apr 2020

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
Revenue 178.7 100.0
Operating profit 13.3 7.4
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
  Billion Yen
Total assets 1,657.8
Total equity 627.3
Equity attributable to owners of the parent 624.4
Equity ratio attributable to owners of the parent (%) 37.7
Interest-bearing debt 764.2

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

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.

Note 4: R&D expenses includes a partially capitalized R&D expenses recorded as intangible assets.

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.


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