Notice Concerning the Difference Between Forecasts and Actual Financial Results for the Nine Months Ended December 31, 2013

  Notice Concerning the Difference Between Forecasts and Actual Financial
  Results for the Nine Months Ended December 31, 2013

Business Wire

TOKYO -- February 6, 2014

Renesas Electronics Corporation (TSE: 6723), a premier provider of advanced
semiconductor solutions, today announced its difference between consolidated
financial forecasts, which it disclosed on October 30, 2013, and actual
results, which it disclosed today, for the nine months ended December 31, 2013
(the period from April 1, 2013 to December 31, 2013).

1. Difference between consolidated forecasts and actual results for the nine
months ended December 31, 2013

(April 1, 2013 to December 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
                  613,900    36,700     26,900    11,200      13.34
(As of October
30, 2013)
Actual results    632,508    50,667     43,244    10,171      12.11
Increase          18,608     13,967     16,344    (1,029)     (1.23)
(decrease)
Percent change    3.0%      38.1%     60.8%    (9.2%)      (9.2%)
Reference
Results for the
nine              600,398    (31,240)   (35,535)  (161,722)   (387.71)
months ended
December
31, 2012
                                                             

Background to the difference

Renesas announced the following financial results for the nine months ended
December 31, 2013: net sales were 632.5 billion yen, 18.6 billion yen up from
the previous forecast (announced on October 30, 2013); semiconductor sales
were 605.0 billion yen, 17.7 billion yen up from the previous forecast.

Operating income (loss) and ordinary income (loss) were better than the
company’s estimates, mainly owing to net sales being largely over the
company’s expectation and its efforts on promoting cost-containment measures.

Quarterly net income (loss) was below the company’s estimate, mainly owing to
recording of additional special losses, including an impairment loss on fixed
assets in accordance with the transfer of semiconductor manufacturing facility
and related equipment of the company’s consolidated subsidiary, which was
announced on February 6, 2014, in the news release “Notice Concerning the
Recording of Special Income and Losses”.

Details will be explained in Renesas’ announcement of financial results for
the third quarter ended December 31, 2013 on February 6, 2014.

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
Media Contacts
Kyoko Okamoto, +81 3-6756-5555
pr@renesas.com
Investor Contacts
Ai Kanehira, +81 3-6756-5552
ir@renesas.com
 
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