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Renesas Electronics Reports Financial Results for the Third Quarter Ended December 31, 2013



  Renesas Electronics Reports Financial Results for the Third Quarter Ended
  December 31, 2013

Business Wire

TOKYO -- February 6, 2014

Renesas Electronics Corporation (TSE:6723) today announced consolidated
financial results for the three months and nine months ended December 31,
2013.

Summary of Consolidated Financial Results

                           Three months ended         Nine months ended
                           December 31, 2013          December 31, 2013
                           Billion Yen   % of Net     Billion Yen   % of Net
                                         Sales                      Sales
Net sales                  215.6         100.0        632.5         100.0
Sales from                 207.6                      605.0
semiconductors
Sales from others          8.0                        27.5
Operating income (loss)    30.0          13.9         50.7          8.0
Ordinary income (loss)     29.3          13.6         43.2          6.8
Net income (loss)          23.0          10.7         10.2          1.6
Capital expenditures       6.7                        26.0
Depreciation and others    18.5                       56.9
R&D expenses               24.8                       89.2           
                           Yen                        Yen
Exchange rate (USD)        99                         98
Exchange rate (Euro)       134                        130            
                            
                           As of December 31, 2013
                           Billion Yen
Total assets               795.8
Net assets                 252.2
Equity Capital             240.4
Equity ratio (%)           30.2
Interest-bearing debt      280.9
                                                       

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 Third Quarter Ended December 31, 2013

       English translation from the original Japanese-language document

                                                              February 6, 2014

  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                : February 6, 2014
  Hokokusho (scheduled)
                                          
                                         (Amounts are rounded to the nearest
                                         million yen)

1. Consolidated financial results for the nine months ended December 31, 2013

1.1 Consolidated operating    (% of change from corresponding period of the
results                       previous year)
           Net sales          Operating        Ordinary         Net
                              income (loss)    income (loss)    income (loss)
           Million   %        Million    %     Million    %     Million     %
           yen                yen              yen              yen
Nine
months
ended      632,508   5.3      50,667     ---   43,244     ---   10,171      ---
December
31, 2013
                                                                 
Nine
months
ended      600,398   (10.8)   (31,240)   ---   (35,535)   ---   (161,722)   ---
December
31, 2012

Reference:   Comprehensive income for the nine           27,539 million yen
             months ended December 31, 2013:
             Comprehensive income for the nine           (153,083) million yen
             months ended December 31, 2012:
                                                          

                                      Net income (loss)   Net income (loss)
                                      per share basic     per share diluted
                                      Yen                 Yen
Nine months ended December 31, 2013   12.11               ---
                                                           
Nine months ended December 31, 2012   (387.71)            ---
                                                           

1.2 Consolidated financial condition
                    Total assets   Net assets    Equity ratio
                    Million yen    Million yen   %
December 31, 2013   795,802        252,245       30.2
                                                  
March 31, 2013      669,104        77,924        10.0

Reference:   Equity as of December 31, 2013:   240,365 million yen
             Equity as of March 31, 2013:      66,744 million yen
                                                

2. Cash dividends

                         Cash dividends per share
                         At the end   At the end   At the end   At the
                         of           of           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)                                                      0.00     0.00

 

Note:   Change in forecast of cash dividends since the most recently       Yes
        announced forecast:
        For details, please refer to page 7.
                                                                            

3. Forecast of consolidated results for the year ending March 31, 2014

(% of change from corresponding period of the previous year)
                         Operating      Ordinary       Net income      Net income
         Net sales       income         income         (loss)          (loss) per
                         (loss)         (loss)                         share
         Million   %     Million   %    Million   %    Million    %    Yen       %
         yen             yen            yen            yen
Year
ending
March    822,500   4.7   54,700    --   44,200    --   (21,800)   --   (20.88)   --
31,
2014

Note:   Change in forecast of consolidated financial results since the     Yes
        most recently announced forecast:
        For details, please refer to page 7.

4. Others

4.1   Changes in significant subsidiaries for the nine months ended       
      December 31, 2013
      (Changes in specified subsidiaries resulting in changes in scope     Yes
      of consolidation):
      (Note) For details, please refer to page 7.
                                                                            

4.2   Adoption of special accounting policies for quarterly financial      Yes
      statements:
      (Note) For details, please refer to page 7.
                                                                            

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 December 31, 2013:          1,667,124,490 shares
                  As of March 31, 2013:             417,124,490 shares
                                                     

2.   Number of treasury stock
         As of December 31, 2013:   2,548 shares
         As of March 31, 2013:      2,548 shares
                                     

3.   Average number of shares issued and outstanding
         For the nine months ended December 31, 2013:   839,849,215 shares
         For the nine months ended December 31, 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 (hereafter “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 consolidated subsidiaries
(hereafter “the Group”) will hold a quarterly earnings conference for
institutional investors and analysts on February 6, 2014. The Group plans to
post the materials which are provided at the meeting, on the Group’s homepage
on that day.

About Renesas Electronics Corporation

Renesas Electronics Corporation (TSE:6723), the world’s number one supplier of
microcontrollers, is a premiere supplier of advanced semiconductor solutions
including microcontrollers, SoC solutions and a broad-range of analog and
power devices. Business operations began as Renesas Electronics Corporation 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 Corporation has subsidiaries in approximately 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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