Notice Concerning the Difference between Forecasts and Actual Financial Results for the Year Ended March 31, 2014

  Notice Concerning the Difference between Forecasts and Actual Financial   Results for the Year Ended March 31, 2014  Business Wire  TOKYO -- May 9, 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 February 6, 2014, and actual results, which it disclosed today, for the year ended March 31, 2014 (the period from April 1, 2013 to March 31, 2014).  1. Difference between consolidated forecasts and actual results for the year ended March 31, 2014                                                              (April 1, 2013 to March                         In millions of yen 31, 2014)                                                                       Net                              Operating     Ordinary     Net           Income              Net        Income      Income     Income      (Loss)                 Sales        (loss)        (Loss)       (Loss)        per                                                                       Share                                                                       (Yen) Previous forecasts (As of        822,500    54,700      44,200     (21,800)    (20.88) February 6, 2014) Actual        833,011    67,635      58,625     (5,291)     (5.07) results Increase      10,511     12,935      14,425     16,509      15.81 (decrease) Percent       1.3%       23.6%       32.6%      75.7%       75.7% change Reference Results for the year      785,764    (23,217)    (26,862)   (167,581)   (401.76) ended March 31, 2014                                                                         Background to the difference  Renesas announced the following financial results for the year ended March 31, 2014: net sales were 833.0 billion yen, 10.5 billion yen up from the previous forecast (announced on February 6, 2014); semiconductor sales were 796.8 billion yen, 6.8 billion yen up from the previous forecast.  Operating income (loss), ordinary income (loss) and net income (loss) were all better than the company’s estimates, mainly owing to semiconductor sales being over the company’s expectation and its efforts on promoting cost-containment measures.  Details will be explained in Renesas’ announcement of financial results for the year ended March 31, 2014 on May 9, 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: Kyoko Okamoto, +81 3-6756-5555 pr@renesas.com or Investors: Makie Uehara, +81 3-6756-5552 ir@renesas.com  
Press spacebar to pause and continue. Press esc to stop.