12 Feb 2020
TOKYO, Japan ― Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced semiconductor solutions, today announced the consolidated financial forecasts for the three months ending March 31, 2020.
The Group reports its consolidated forecasts 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 that will help to better understand the Group’s constant business results, figures such as revenue, gross margin and operating 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 expenses or income from the figures based on GAAP (IFRS based) following a certain set of rules. The gross margin and operating margin forecasts are given assuming the midpoint in the net sales forecast.
1. Consolidated forecasts for the three months ending March 31, 2020
(January 1, 2020 to March 31, 2020)
In millions of yen
|Non-GAAP Revenue||Non-GAAP Gross Margin||Non-GAAP Operating Margin|
|Forecasts as of February 12, 2020||175,000
Corresponding period of the previous year (January 1, 2019 to March 31, 2019)
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. In addition, as of the first quarter ended March 31, 2019, there has been a change in the Group’s auditor, and therefore, quarterly figures of the year ended December 31, 2018, provided under IFRS are not reviewed by the previous auditors. However, for each of the quarterly figures of the year ended December 31, 2018 provided under the generally accepted accounting principal in Japan (J-GAAP) have been reviewed by the Group’s previous auditor.
The consolidated forecasts for the three months ending March 31, 2020 are calculated at the rate of 109 yen per USD and 121 yen per Euro.
Refer to Renesas Electronics' earnings report “ Renesas Electronics Reports Financial Results for the Fiscal Year Ended December 31, 2019 (PDF: 1.44MB)” issued on February 12, 2020 for more details.
The statements with respect to the financial outlook of the Group are forward-looking statements involving risks and uncertainties. The Company cautions you in advance that actual results may vary materially from such forward-looking statements due to several important factors.
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.
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