Renesas Electronics Revises Full-Year Forecasts

  Renesas Electronics Revises Full-Year Forecasts

Business Wire

TOKYO -- December 10, 2012

Renesas Electronics Corporation (TSE: 6723), a premier supplier of advanced
semiconductor solutions, today revised its consolidated financial forecasts
for the full year (the period from April 1, 2012 to March 31, 2013), which it
disclosed on August 2, 2012.

1. Revised forecasts for the full-year consolidated financial results

                                                             
(For the year ending March 31, 2013)               In millions of yen
                               Operating   Ordinary   Net Income   Net Income
                 Net Sales  Income     Income    (Loss)      (Loss) per
                               (loss)      (Loss)                  Share (Yen)
Previous
forecasts
                  868,000    21,000     10,000    (150,000)   (359.60)
(As of August 2,
2012)
Revised
forecasts
                  820,000    21,000     10,000    (150,000)   (359.60)
(As of December
10, 2012)
Increase          (48,000)   0          0         0           -
(decrease)
Percent change    (5.5)      -         -        -          -
Reference:

Results for the
year              883,112    (56,750)   (61,228)  (62,600)    (150.08)

ended March 31,
2012
                                                                   

Background to the revision of full-year forecasts

Renesas announced the following revisions to its forecasts for the fiscal year
ending March 31, 2013: net sales are expected to total 820.0 billion yen, 48.0
billion yen down from the previous forecast (announced on August 2, 2012);
semiconductor sales are expected to total 760.0 billion yen, 51.0 billion yen
down from the previous forecast.

As factors including prolonged debt worries in Europe, further market slowdown
in China and other emerging economies as well as increased uncertainty of
Japan-China relations might impact on demand, Renesas forecasts its sales to
be less than the original expectations and has made a downward revision to its
forecasts for both net sales and semiconductor sales. The company expects the
sales from three product areas, MCUs, analog and power (A&P) devices and
system-on-Chip (SoC) solutions; to decline from the previous forecast.

Although there might be the anticipation of the reduction of the incomes with
decline of semiconductor sales, Renesas has not changed its forecasts for
operating income, ordinary income and net income from the figure announced on
August 2, 2012, by streamlining production and further expense reduction
measures.

The consolidated financial forecasts for the second half of the fiscal year
ending March 31, 2013 are based on the rate of 81 yen per USD and 105 yen per
Euro.

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 “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), the world’s number one supplier
of microcontrollers, is a premier supplier of advanced semiconductor solutions
including microcontrollers, SoC solutions and a broad-range of analog and
power devices. Business operations began as Renesas Electronics in April 2010
through the integration of NEC Electronics Corporation (TSE:6723) and Renesas
Technology Corp., with operations spanning research, development, design and
manufacturing for a wide range of applications. Headquartered in Japan,
Renesas Electronics has subsidiaries in 20 countries worldwide. More
information can be found at www.renesas.com.

Contact:

Renesas Electronics Corporation
Japan
Ai Kanehira, + 81-3-6756-5555
ai.kanehira.xw@renesas.com
 
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