Renesas Electronics Reports Financial Results for the Second Quarter Ended September 30, 2013

  Renesas Electronics Reports Financial Results for the Second Quarter Ended
  September 30, 2013

Business Wire

TOKYO -- October 30, 2013

Renesas Electronics Corporation (TSE:6723) today announced consolidated
financial results for the six months ended September 30, 2013.


Summary of Consolidated Financial Results
                       Three months ended          Six months ended
                      September 30, 2013          September 30, 2013
                         Billion Yen   % of Net      Billion     % of Net
                                         Sales         Yen           Sales
Net sales                217.8           100.0         416.9         100.0
Sales from               207.7                         397.3
semiconductors
Sales from others        10.1                          19.5
Operating income         10.9            5.0           20.7          5.0
(loss)
Ordinary income          5.4             2.5           13.9          3.3
(loss)
Net income (loss)      (8.8    )     (4.0   )    (12.8  )    (3.1   )
Capital expenditures     4.0                           5.7
Depreciation and         19.2                          38.4
others
R&D expenses           31.8                    64.4       
                                                       Yen
Exchange rate (USD)      98                            98
Exchange rate (Euro)   130                     128        
                      
                      As of September 30, 2013
                         Billion Yen
Total assets             796.2
Net assets               221.8
Equity Capital           208.7
Equity ratio (%)         26.2
Interest-bearing       287.4                  
debt

Note 1:  All figures are rounded to the nearest 100 million yen.
Note 2:   Capital expenditures refer to the amount of order placed for
          property, plant and equipment (manufacturing equipment).
          Depreciation and others includes depreciation and amortization of
Note 3:   intangible assets and amortization of long-term prepaid expenses in
          quarterly consolidated statements of cash flows.
          


Consolidated Financial Results for the Second Quarter Ended September 30, 2013
English translation from the original Japanese-language document

                                    October 30, 2013

Company name                      :    Renesas Electronics Corporation
Stock exchanges on which the      :    Tokyo Stock Exchange, First Section
shares are listed
Code number                       :    6723
URL                               :    http://www.renesas.com
Representative                    :    Hisao Sakuta, Representative Director,
                                       Chairman and CEO
Contact person                    :    Taizo Endo, Executive Manager
                                       Corporate Communications Dept
                                       Tel. +81 (0)3-6756-5552
Filing date of Shihanki           :    November 6, 2013
Hokokusho (scheduled)
                                       
                                       (Amounts are rounded to the nearest
                                       million yen)
                                       


1. Consolidated financial results for the six months ended September 30, 2013

1.1
Consolidated   (% of change from corresponding period of the previous year)
financial
results
              Net sales       Operating income   Ordinary income    Net income
                                   (loss)               (loss)               (loss)
               Million %       Million    %     Million    %     Million     %
                 yen               yen                  yen                  yen
                                                                                           
Six months
ended            416,866 1.8       20,688       ---     13,910       ---     (12,810)      ---
September
30, 2013
                                                                                           
Six months
ended          409,384 (9.1)   (23,310)   ---   (24,443)   ---   (115,081)   ---
September
30, 2012

Reference:  Comprehensive income for the six months :  (6,137) million yen
             ended September 30, 2013
             Comprehensive income for the six months :   (119,647) million yen
             ended September 30, 2012

                                                       
                                    Net income (loss)   Net income (loss)
                                       per share basic       per share diluted
                                     Yen                 Yen
                                                             
Six months ended September 30,         (30.22)               ---
2013
                                                             
Six months ended September 30,       (275.89)            ---
2012
                                                             

1.2 Consolidated financial position
                    Total assets   Net assets    Equity ratio
                     Million yen    Million yen   %
                                                        
September 30, 2013     796,221          221,778         26.2
                                                        
March 31, 2013       669,104        77,924        10.0

Reference:  Equity as of September 30, 2013 :  208,666 million yen
             Equity as of March 31, 2013     :   66,744 million yen


2. Cash dividends
                       Cash dividends per share
                          At the      At the      At the      At the
                       end of    end of    end of    end of   Total
                          first       second      third       year
                          quarter     quarter     quarter
                        Yen       Yen       Yen       Yen      Yen
Year ended March 31,      ---         0.00        ---         0.00       0.00
2013
Year ending March 31,   ---       0.00                       
2014
Year ending March 31,                     ---       ---      ---
2014 (forecast)

Note: Change in forecast of cash dividends since the most recently announced
forecast: No


3. Forecast of consolidated results for the nine months ending December 31, 2013
          (% of change from corresponding period of the previous year)
                                                                                          Net
                                 Operating          Ordinary           Net income         income
          Net sales         income (loss)    income (loss)    (loss)           (loss)
                                                                                          per
                                                                                          share
           Million   %     Million   %    Million   %    Million   %    yen
             yen                 yen                yen                yen
Nine
months
ending     613,900   2.2   36,700    --   26,900    --   11,200    --   13.34
December
31, 2013

Note:  Change in forecast of consolidated results since the most recently
        announced forecast: Yes
        Please refer to Appendix 1.3., “Consolidated Forecasts” on page 7.

    
4.    Others
4.1   Changes in significant subsidiaries for the six months ended September
      30, 2013
      (Changes in specified subsidiaries resulting in changes in scope of
      consolidation): No
      
4.2   Adoption of special accounting policies for quarterly financial
      statements: Yes
      (Note) For details, please refer to page 9.
      
4.3   Changes in Accounting Policies, Changes in Accounting Estimates and
      Corrections of Prior Period Errors
      1. Changes in accounting policies with revision of accounting standard:
      No
      2. Changes in accounting policies except for 4.3.1: No
      3. Changes in accounting estimates: No
      4. Corrections of prior period errors: No
      
4.4   Number of shares issued and outstanding (common stock)
      1. Number of shares issued and outstanding (including treasury stock)
      As of September 30, 2013: 1,667,124,490 shares
      As of March 31, 2013: 417,124,490 shares
      2. Number of treasury stock
      As of September 30, 2013: 2,548 shares
      As of March 31, 2013: 2,548 shares
      3. Average number of shares issued and outstanding
      For the six months ended September 30, 2013: 423,952,543 shares
      For the six months ended September 30, 2012: 417,121,942 shares
      

(Note) Information regarding the implementation of quarterly review procedures
These quarterly financial results are not subject to quarterly review
procedures based upon the Financial Instruments and Exchange Act. The review
procedures for the quarterly financial report have been completed by the time
of issuance of this report.

Cautionary Statement

The statements with respect to the financial outlook of Renesas Electronics
Corporation (hereinafter “the Company”) and its consolidated subsidiaries 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 changes in several important factors.

The Renesas Electronics Corporation and its financially consolidated companies
(hereinafter “the Group”) holds a quarterly financial meeting for
institutional investors and analysts on October 30, 2013. The group plans to
post the materials which are provided at the meeting, on the Group’s homepage
on that day.

Contact:

Renesas Electronics Corporation
Media Contact:
Kyoko Okamoto, +81 3-6756-5555
pr@renesas.com
Investor Contact:
Ai Kanehira, +81 3-6756-5573
ir@renesas.com
 
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